Experian today announced that its recently launched, AI‑powered Experian Assistant for Model Risk Management has been awarded the 2026 BIG Innovation Award in the Innovative Products category. Recognizing trailblazers across industries since 2014, this global award celebrates exceptional innovation and the value it brings to a recipient’s clients, stakeholders and community.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260205042051/en/
Fully integrated into the Experian Ascend Platform™ and powered by ValidMind technology, Experian Assistant for Model Risk Management helps accelerate model validation, improve auditability and reduce regulatory risk. By offering standardized templates, centralized documentation and streamlined workflow approvals, the solution empowers financial institutions to meet regulatory guidelines in today’s AI-driven model development.
“The AI-enabled speed of data analytics and model development is driving unprecedented business opportunities for financial institutions, but it comes with a significant challenge: global regulations that require time-consuming documentation,” said Vijay Mehta, EVP, Global Solutions and Analytics, Experian Software Solutions. “Experian Assistant for Model Risk Management helps solve this labor- and resource-intensive requirement with end-to-end model documentation automation, and this award recognizes this value to our customers.”
According to a 2025 study by Experian of more than 500 global financial institutions, two thirds of them (67%) currently find it challenging to meet their respective country’s regulatory requirements, and 79% report that regulators communicate supervisory concerns and issues more frequently now than a year ago. Presenting an even tougher challenge, 60% of financial institutions still rely entirely on manual processes for compliance. More than 70% of larger companies say that model documentation compliance currently involves more than 50 people.
“Experian Assistant for Model Risk Management solves a very real pain point for financial institutions by offering scalable and explainable AI across the credit and risk lifecycle,” said Mehta. “With it, they can modernize their model documentation and risk practices and keep pace with fast-evolving AI technologies and regulatory requirements.”
The 2026 BIG Innovation Awards are evaluated by a panel of seasoned business leaders and executives who assess submissions based on measurable performance, responsible implementation and the capability to shape the future of work and culture. For more information, visit https://www.bintelligence.com/awards/big-innovation-awards.
* Article first published on: itweb.africa
Share