As the pace of business quickens, is your organization keeping up?
Spinnaker Consulting Group helps Fortune 500s get to where they’re going, faster.
Market conditions are constantly changing, which means businesses must have the flexibility to adapt to operate successfully. But all the flexibility in the world could not have prepared businesses for the impact of the novel coronavirus. Almost immediately after COVID-19 began spreading across the United States, the economy took a huge hit that included major job losses.
In the 10 years following the Great Recession, significant numbers of home equity lines of credit (HELOCs) were booked. Now, as we navigate another recession, the balances on those accounts are catching up with customers – and the banking industry – in a big way.
As the world braces itself for the economic impact of COVID-19, banks are looking to credit risk models in an attempt to quickly understand and forecast the effects of such rapid change. But putting these models to work is no easy task.
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