At the start, Scorable employs 30 people and is financed by Talanx through its asset management subsidiary Ampega Asset Management. Initially, the Berlin-based start-up will target clients throughout Europe with a focus on Germany, the UK, Austria, Switzerland and France. Asset management has been on a constant growth course worldwide for years, but according to Ampega CEO Harry Ploemacher, it is only at the beginning of a profound digital development. "Scorable, with its Artificial Intelligence, is at the forefront of this technological development and offers real added value for asset managers: credit risk management under efficient production conditions," says Ploemacher. Ampega is one of the first clients to use Scorable to manage its investments.
Since the last financial crisis in 2008, the financial industry has sought to anticipate emerging crises through increased transparency requirements and improved data analysis methods. Scorable intends to contribute to this with its innovative business model. "We have developed a unique AI that is able to anticipate risks and warn investors," said Philippe Padrock, Chief Operating Officer of Scorable.
This is how the web application works: The analyzed data and the information obtained from it are converted into a score that supports active asset managers in the risk assessment of bond investments. The special feature of Scorable: Quantitative and qualitative data are combined in an AI-controlled analysis. "Previously, credit risk analysis focused primarily on quantitative data and contained a high degree of personal intuition," says Oliver Kroll, Chief Product Officer of Scorable. "The AI is capable of processing text-based information and thus sharpening the analysis.”
The investment in Scorable is another building block in the Talanx Group's digitization strategy. In doing so, it or HDI partnerships with start-up platforms and with companybuilders such as Finleap and NBT as well as on selected individual investments. These include, for example, the asset management digitizer Elinvar, whose customers include DKB, MM Warburg and Castell-Bank.