KeyBank joins Credit Risk Navigator, the next-generation AFS/RMA commercial credit risk benchmarking service
EXTON, Pa.–(BUSINESS WIRE)–Automated Financial Systems, Inc. (AFS®), a leading provider of software solutions and services to financial institutions, and The Risk Management Association (RMA), which advances risk management at scale of the company through education, products and community announced today, KeyBank (NYSE: KEY) has become the latest institution to join the RMA Credit Risk Navigator, powered by AFS.
“We look forward to leveraging the rich data available through the Credit Risk Navigator (CRN) database,” said John Dravenstott, Portfolio Executive at KeyBank. “Portfolio benchmarking and peer analysis is a central part of our risk management framework, and we have found that the CRN database provides unique depth and granularity of data in the trading space. .”
Leveraging nearly two decades of reporting covering all major industry and product types, the CRN database provides many key risk indicators and metrics and encompasses nearly 850,000 individual loans. KeyBank will now be able to rely on the robust and unique strength of the CRN database to monitor its credit risk profile and make more informed and targeted portfolio strategy decisions.
“We are delighted to welcome KeyBank to the CRN Consortium,” said Doug Skinner, Director of Business Intelligence Services at AFS. “External benchmarking is a central tenet of a strong risk management framework. The CRN database will enhance KeyBank’s ability to benchmark the composition, risk and performance of its commercial portfolio against peer banks and the industry as a whole.
“As an association focused on delivering exceptional value to our members, we are thrilled to partner with AFS to deliver the Credit Risk Navigator,” said Carly Edmondson, RMA Senior Product Manager. “With features such as a unique monthly reporting cadence, extensive data granularity, customizable reports, and intuitive dashboards, Credit Risk Navigator delivers important trade credit metrics for banking leadership.”
KeyCorp’s roots go back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest banking financial services companies, with assets of approximately $186.3 billion as of December 31, 2021. Key provides deposit, lending, cash and investment management to individuals and businesses in 15 states as KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also offers a wide range of sophisticated corporate and investment banking products, such as advice on mergers and acquisitions, public and private debt and capital, syndications and derivatives to middle market companies. in selected industries across the United States under the trade name KeyBanc Capital Markets. . For more information, visit https://www.key.com/. KeyBank is an FDIC member.
AFS is the global leader in providing real-time, end-to-end lending solutions to the world’s premier institutions as well as regional and de novo institutions. Solely dedicated to the financial industry, AFS is uniquely positioned to support the business and technology transformation of our clients, as evidenced by our solutions processing over $3 trillion in small business, commercial, CRE, wealth management and unionized. AFS customers have achieved measurable results in customer expansion, revenue growth and efficiencies that outpace their competitors. AFS is headquartered in Exton, Pennsylvania, with an office in Brussels, Belgium. For more information, visit www.afsvision.com.
Founded in 1914, the Risk Management Association is a member-driven, not-for-profit trade association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk and operational risk. Based in Philadelphia, Pennsylvania, RMA has 1,900 institutional members, including banks of all sizes as well as non-bank financial institutions. They are represented within the Association by 18,500 people spread across North America, Europe, Australia and Asia/Pacific.