ON Credit Intelligence Suite brings an updated version of its ON Climate application for banks to view their commercial loan portfolios.
The software allows banks to include a scenario analysis covering climate scenarios in the monitoring and annual review. Through this, they can create a dynamic credit culture by reducing the managing costs of commercial portfolios.
The updated app also has a transition risk analysis feature under climate-related developments in policy and regulation. The latest ON Climate product release from ONci will allow customers to examine bank transition risks and impacts until 2050 under the guidance of the US Federal Reserve climate scenario analysis.
With the help of the product, banks can mitigate, manage and track climate risks from 2023 to 2050. Also, they can identify sectors and borrowers faster that pose climate risk and create effective transition strategies.