Since 2001, Nykredit has developed BayesCredit, for predicting default events for large corporates. BayesCredit is a Bayesian network, which predicts the risk that a corporate will default within the next year.
The danish mortgage credit institution Nykredit has developed a tool for risk prediction, known as “BayesCredit”. Bayes Credit is developed using the Hugin advanced BN-based software.
From January 2007 the Basel II Accord is not only a requirement but also an evolutionary program of risk improvement for more than 30,000 banks and financial institutions in more than 100 countries. Because of Basel II and a great demand for standardisation during the credit process, the development of statistical models has been a major focus area in Nykredit.
Read the complete case story at: http://www.hugin.com/cases/