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Zoot Enterprises Presents Live Webinar on '5 Things You Need to Know About Credit Risk in a New Environment'

Overwhelming demand necessitates encore session of an educational panel on strategies for managing changing consumer behavior

Zoot Enterprises, a leading provider of advanced instant credit decisioning and loan origination solutions, will host an encore presentation of its recent one-hour Webinar, 5 Things You Need to Know About Credit Risk in a New Environment, on Wednesday, Aug. 20 at 11 a.m. PST/ 2 p.m. EST.

According to Dennis Dixon, president of Zoot, the original session received a tremendous response, and we are providing a second opportunity for people in the financial industry.

The downturn in the current economy has drastically altered consumer financial behavior, making it more difficult for institutions to predict that behavior and mitigate risk, Dixon said. Financial institutions are desperately seeking strategies to adjust to the changing market while insulating themselves from risk.

Presenters for the Webinar are Zoot Enterprises Vice President of Product Development Tom Johnson, CG2 Executive Vice President Andy Callen and Tim Bates, a senior credit risk management executive at a top-10 U.S. bank.

According to Bates, Managing credit risk today is like flying a plane on instruments, but the instruments dont work.

This panel will give current insight on the changing landscape and what to do about it. Items addressed in the Webinar include:

  • Do established scoring models, such as the FICO score, still work to predict the probability of default?
  • How well do we understand what the changes in consumer behavior mean to risk management?
  • How are financial institutions changing decisioning rules and credit policies?
  • Are out of date risk models subjecting lenders to unanticipated risks?
  • What modeling and technology solutions enable real-time changes so institutions can stay current during market fluctuations?

To be successful in the current market, institutions need real time tools that allow for greater complexity in decisioning logic and the ability to adjust to an ever-changing market, Johnson said. By better utilizing available data and more complex logic and by continuously testing that logic, institutions are able to predict and understand consumer behavior better, respond rapidly to market change, make better credit decisions and focus on their most profitable customers.

You need to be able to change with the market monthly if not quarterly. Simplistic scoring models just arent enough anymore, Callen added. Custom scoring helps to better manage risk while allowing you to enter new markets effectively and in a much shorter time frame.

To register for this event or to find more information on the presenters, visit https://zootweb.webex.com/zootweb/onstage/g.php?t=a&d=556922748.

About Zoot

Bozeman, Mont.-based Zoot Enterprises provides credit decisioning and loan origination solutions through a configurable, scalable and reliable platform to large and innovative U.S. financial services institutions. Visit http://www.zootweb.com or call 406.556.7555 for more information.

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