SYDNEY – October 22, 2018 – 10 years on from the GFC, a cloud-based data analytics platform that can act as an early warning signal for mortgage market hotspots has been released by Perpetual Corporate Trust.
Perpetual’s Mortgage Market Insights module, developed using Microsoft Azure cloud services and Power BI, allows banks and financial service providers to analyse the performance of their own portfolio and benchmark against the greater than $200 billion Australian mortgage market.
Richard McCarthy, Acting Group Executive for Perpetual Corporate Trust, said, “The new data and analytics platform affords a level of transparency never before available to the sector.
“It offers greater control through early warning signs about potential issues, and uses modelling to predict the future performance of the mortgage market.
“We’ve designed a platform which leverages the latest technology to process millions of lines of data at the click of a button.” He added, “The insights available are incredible.
“The platform creates efficiency and scale, moving organisations well beyond spreadsheets and enabling greater comparability in the market.
“Partnering with Microsoft has allowed us to utilise machine learning so the predictive capability of the platform will continue to improve over time.”
Lee Hickin, chief technology officer, Microsoft Australia said, “This really is a game changer. It’s a prime example of how a business can extract more value from its data when it makes it accessible and searchable via the cloud.
“Critically, the Perpetual platform informs decision making, directs strategy, and offers an additional line of defence for the banking and financial services industry through data driven insights. It can detect potential problems and highlight warning signs that previously weren’t visible until it was too late to act.”
The Mortgage Market Insights module is the latest from the proprietary Perpetual Business Intelligence platform, offering Software as-a-service (SAAS) integration, automation and data insights.
Mr McCarthy commented, “We also have a Credit Stress Testing module which streamlines APRA reporting for financial service providers. It supports the management of liquidity requirements by allowing for easy stress testing of portfolios.
“Separately, our IFRS 9 module automates compliance reporting for the new global accounting standard which came into effect earlier this year.”
Perpetual Business Intelligence offers a cloud-based series of data analytics services and tools to support strategic business decisions, risk management, regulatory reporting and portfolio management through predictive algorithms and dynamic analytics.
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Notes to Editors:
- The Perpetual Business Intelligence Platform combines Perpetual data with external data collections and analyses them for patterns that may help reduce the risk of mortgage default and financial loss
- It offers a number of modules to help financial services providers meet their regulatory and compliance reporting requirements. The new modules available are Perpetual’s Mortgage Market Insights, Credit Stress Testing, and IFRS 9
- One of the big 4 banks, two mutuals, and an Australian neo-bank are already some of the early adopters of Perpetual Business Intelligence.
For media enquiries please contact:
Microsoft Australia Perpetual
Rudolf Wagenaar, Communications Lead Kristen Allen, GM Corporate Communications
Mobile: 043 908 2550 0412 759 753