As a start-up in the financial services industry looking to make waves with what we see as a game changing innovation, WAIN Street is perpetually trying to explain to anyone who’ll listen the value proposition of our Business Credit Health Index (BCH Index) and its application to understanding business credit portfolios. And nothing could be more exciting than a high profile, industry opinion leader independently advocating the same fundamental concepts.
Citigroup CEO Vikram Pandit has done just that in his Financial Times piece “Apples v apples – a new way to measure risk”. The article is a must read; the candidness and clarity coming from a Fortune 100 CEO is refreshing. It’s also highly heartening for WAIN Street as we’ve been calling for better data and benchmarks around business credit health for some time now. While Mr. Pandit might not realize his inadvertent spokesmanship, we appreciate that he recognizes this basic need of financial institutions.