Financial Objects has announced that Energie Baden-Wuerttemberg AG (EnBW) has selected energycredit as its credit risk management platform for energy trading to support the company’s business growth. The implementation of the scoring module is already underway and is due to go live by the end of the summer. EnBW has experienced significant growth over the last few years and has seen the number of its energy trading counterparties increase from 100 to 400, with increasing numbers in eastern Europe. At the same time, the credit risk department took on the role of a central rating agency within EnBW to provide scoring and credit assessments for all of the organisation’s counterparties, not just trading. It also has a mandate to provide credit ratings for the customers of its grid operations. energycredit Scoring is available as a module of Financial Objects’ web-based energycredit solution, which is already being used by StatoilHydro and RWE, among others. The solution comprises a counterparty database for credit scoring and automates all related workflow and reporting processes, such as the credit approval procedure.
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