CAARS is a suite of software products to meet a range of business needs within financial services, all with the same fundamental challenge: complex business data. We specialise in understanding the data of financial services organisations, and then in leveraging this knowledge to deliver multiple business solutions from a single common data source. CAARS solutions currently include:


CABS Test Harness


Complete Asset Backed Securitisation (ABS) Test Harness: Providing independent verification for all data used within an ABS solution (including Excess Spread and/or DCF calculations). Enabling the comparison on a loan level data (LLD) basis per data attribute across the full portfolio, with drill down access from a dashboard to specific calculation variances and data attribute differences.



Rating Agency Due Diligence Data and Reporting: Historical portfolio performance reporting presented in summary in the format expected by Rating Agencies and Investors, together with the provision of supporting loan level data (LLD).



Reclaim VAT System: Calculating VAT bad debt reclaims and refunds including Regulation 38 reclaims.



IFRS9: Calculating the Probability of Default (PD, 12 month and lifetime), Loss Given Default (LGD) and Expected Credit Losses (ECL) based on a historical ‘back test’ for varying user selected observation periods.   Enabling the interactive / real-time modelling of future macro-economic, market or organisational events and their potential impact on PD, LGD and ECL. Delivering the supporting information required for the Financial Statement e.g. Stage movement summaries.


We combine both the technical and business expertise to analyse your data and develop the required ‘ETL’ processes (Extract, Transform and Load) to create the CAARS data source effectively and efficiently. Naturally, CAARS can also work with existing data (extracts) wherever appropriate. CAARS can either be deployed locally on your own IT network, or delivered as a fully secure hosted solution. CAARS is already proven in high volume businesses with several hundred thousand contracts and many millions of transactions. References are available on request.