Skipton reports strong progress from the latest addition to its group, Baseline Capital.
Based in Skipton, Baseline has turned a new set of EU regulations on capital adequacy into a business opportunity, by offering a comprehensive technology solutionincorporating a pooled data warehouse service.
Baseline offers clients a way to pool mortgage data, giving them wider access to comparable loan data, and allows them to comply with regulations.
Its target clientele are UK lenders, principally banks and building societies. Skipton and its specialist-lending subsidiary, Amber Homeloans, together with a number of other societies have already signed up for the Baseline service.
Richard Coates, managing director of Baseline, says: “The new regulations will bring increased competitive pressure on UK lenders.
“By using the technology available from Skipton's other subsidiaries, Baseline is able to offer retail banks and building societies the solution to be able to compute their IRB credit risk capital calculation.
“With full data capture across their mortgage books, Baseline will be able to offer its customers detailed analyses and reports to predict the risk of default, and any likelylosses in their mortgage asset portfolios.”