Experian has introduced Experian Assistant for Model Risk Management, an AI-enabled solution integrated with the Experian Ascend Platform and ValidMind technology, designed to enhance the governance and management of financial models throughout their lifecycle.The new offering aims to accelerate model validation, improve auditability and transparency, and support financial institutions in reducing regulatory and reputational risk. This launch builds upon the prior introduction of Experian Assistant and its AI-enabled model-lifecycle features last October.Vijay Mehta, Executive Vice President, Global Solutions and Analytics at Experian Software Solutions, stated that “Manual documentation, siloed validations, and limited performance model monitoring can increase risk and slow down model deployment.” He added, “Adhering to model-risk-management guidelines can be a tremendous strategic advantage for financial institutions when they can create, review and validate documentation quickly and at scale, and this new solution offers these capabilities.”As financial institutions increasingly adopt GenAI capabilities, they must adhere to global model-risk-management guidelines such as SR 11-7 in the US and SS1/23 in the UK. Experian Assistant for Model Risk Management provides customizable, pre-defined templates, centralized model governance repositories, and transparent internal workflow approvals to help institutions meet these regulatory requirements efficiently.Jonas Jacobi, CEO of ValidMind, commented on the collaboration: “Our partnership with Experian represents a major step forward in operationalizing AI for governance and model risk management.” He further noted, “By embedding ValidMind’s automation and governance capabilities into the Experian Assistant for Model Risk Management, we’re helping financial institutions move faster and satisfy regulator expectations.”Sid Dash, Chief Researcher at Chartis, observed, “The combination of Experian’s commercial expertise and presence with ValidMind’s technology provides the foundation for scalable and explainable AI across the credit and risk lifecycle.” He concluded, “This partnership addresses a growing industry imperative – the need to establish proper AI governance that aligns with an evolving technology and regulatory environment and provides a framework for institutions to modernize their model risk practices.”The solution aims to accelerate time-to-market by streamlining model documentation and approvals, potentially reducing internal approval time by up to 70% and enabling quicker model deployment. By automating processes, it facilitates the creation, maintenance, and validation of complex documents for data collection and model development. It also streamlines the efforts of validation teams by providing quick access to and creation of consistent reports, and offers capabilities for monitoring models with reporting insights to ensure confidence in their performance and value.Experian Assistant for Model Risk Management is designed to simplify model documentation through automation, guided workflows, and seamless tool integration. It seeks to enhance consistency, aligning with evolving regulatory guidelines to mitigate compliance failures. The solution also provides connectivity to Experian analytics experts and Ascend Ops for model registration, deployment, monitoring, and scenario planning, aiming for robust oversight and operational efficiency.Experian, a global data and technology company, provides data, analytics, and software solutions across various markets including financial services. Its corporate headquarters are in Dublin, Ireland. ValidMind specializes in AI governance and automation, while Chartis is a research and advisory firm in the risk technology sector.