ValidMind Wins Risk Technology Award: Model Validation Service of the Year

The best kept secret in model risk management is a secret no longer. ValidMind has been named the Model Validation Service of the Year in the Risk Technology Awards. 

This accolade, awarded by a Risk.net panel of industry experts, highlights the ValidMind commitment to innovation, excellence, and leadership in providing AI-driven model testing, documentation, governance, and validation for financial services. The award recognizes tech vendors in the fields of credit, operational and enterprise-wide risk management. 

According to the website, the Risk Technology Awards highlight “vendors that are doing the most to help the industry meet its various challenges in ALM, credit, operational risk, and wider enterprise risk management.” The judging panel consists of technology users, analysts and Risk.net editorial staff, and its winners are decided on the strength of entries alone. 

Helping businesses innovate with confidence

“Our goal at ValidMind has always been to empower businesses to innovate with confidence,” said Jonas Jacobi, CEO and co-founder of ValidMind. “Winning this award is a testament to the strength of our platform and the dedication of our team. Ours is a platform built for MRM professionals, by MRM professionals, and this award shows that we are not just meeting but exceeding the needs of our growing customer base in a rapidly evolving regulatory landscape.”

ValidMind’s platform offers a comprehensive solution for AI risk management, enabling financial institutions to test, document, validate, govern, and monitor their models within a compliant framework. The platform’s robust features, including automated workflows, advanced analytics, and real-time monitoring, allow organizations to maintain transparency and mitigate risks effectively.

A platform designed to simplify and model validation

Mehdi Esmail, co-founder and Chief Product Officer, emphasized the benefits that ValidMind provides to its users: “Our platform is designed to simplify and accelerate the model validation process while helping banks evaluate the risks of new use cases, such as Large Language Models (LLMs) and Generative AI-based applications… This award recognizes the value we bring to financial institutions by offering a flexible, scalable, and user-friendly solution that addresses their most pressing challenges.”

The Model Validation Service of the Year award is a significant achievement for ValidMind, which was founded in 2022, and underscores the company’s innovative approach in an increasingly complex financial landscape. As regulators and stakeholders demand more rigorous oversight of AI and machine learning models, ValidMind’s solution stands out by providing not just the tools, but also the guidance and support necessary for seamless integration.

Only the beginning …

Jacobi added, “This recognition motivates us to continue enhancing our platform, expanding our capabilities, and building stronger customer relationships with financial institutions and regulated businesses around the world. We’re dedicated to pushing the boundaries of what’s possible in model risk management and ensuring that our clients are able to push models into production faster and with full compliance.”

Want to experience the ValidMind difference? Request a demo today to speak with one of our experts and learn why ValidMind is the 2024 Model Validation Service of the Year.