BURLINGTON, ON., Sept. 26--Cyence announced today that its loan origination software, ExpressOS, has been enhanced with a new comprehensive, dual-risk rating component.

Dual-risk rating enables financial institutions to accurately measure the probability of default (PD) risk, loss given default (LGD) risk and exposure at default (EAD). The extended credit risk scoring or “scorecard” capabilities reflect Cyence’s ongoing collaboration with its banking customer partners and their interest in meeting Basel compliance regulations.

The new ExpressOS features are in their final stages of development and are scheduled to go live in November. Cyence’s first customer to employ these enhancements will use it throughout an enterprise of 3,000 users.

“Compliance has been and will continue to be top-of-mind for North American banks,” said Cyence’s chief technology officer, Hollinsworth Auguste. “ExpressOS’s underwriting and rating module works in tandem with the rules engine and workflow management system to address challenging compliance requirements,” he said.

In addition to addressing current requirements, the added component is designed to generically accommodate future compliance requirements.

Added Auguste: “This is an extension of a highly-configurable, extremely powerful underwriting capability; our customers are particularly excited about its ability to evolve and meet even their future requirements."

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About Cyence International Inc.:

Cyence International, based in Burlington, Ontario CA (Cyence.com) provides front-office software and solutions for commercial finance operations. Its ExpressOS™ software facilitates and integrates origination, credit underwriting, auditing, and compliance functions resulting in standardized data processes, and consistent enterprise-wide business rules.