4most wins ‘Technology of the Year’ for LUMOS, our interactive monitoring tool

4most is thrilled to announce that we won the prestigious Credit Technology of the Year award at the National Credit Awards held on 20 October, for our innovative interactive monitoring tool, LUMOS.

The National Credit Awards honour outstanding achievements in the UK credit space, and LUMOS was recognised for its technical innovation.

We won the award for expanding the functionality of LUMOS with a raft of substantial new benefits to the three key areas of an established IFRS 9 framework: Model Monitoring of the full ECL model suite, Management Information, Forecasting and Stress Testing.

LUMOS was originally developed for the purpose of monitoring advanced Machine Learning (ML) operational models and excels in removing ‘black box’ elements from advanced automated decisioning, helping banking and insurance clients produce clear standardised monitoring with interactive model and data exploration functionality.

In its most recent incarnation, LUMOS has expanded to include additional modules and functionality which provide comprehensive monitoring, forecasting, and stress testing for regulatory models with a focus on IFRS 9. The MI and monitoring cover both standardised executive summary reporting which presents an instant view of how results are tracked against KPIs, as well as ad-hoc interactive analysis of individual model components. To complement this, the new forecasting and stress testing module allow the user to explore different macroeconomic forecasts and flex multiple parameters/business assumptions to understand the impact of the expected credit losses for various ‘what if?’ stressed scenarios.

We are absolutely delighted to have won the award – if you would like more information on LUMOS, please check our dedicated page or contact us.