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AI-Powered Credit Scoring Solution

Credit scoring using Machine Learning technologies simplifies complex credit risk decisions,
generates real-time predictions and reduces credit risks

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Credit scoring using Machine Learning techniques

The world is reaping the rewards of machine learning, big data, and artificial intelligence. AI-based credit scoring is perhaps the most promising sector for Machine Learning techniques implementation in the finance industry.

Credit scoring is a statistical analysis to determine a person’s or a small, owner-operated business’ creditworthiness. The traditional credit scoring model uses a scorecard method that weights various factors including payment history, debt burden, length of credit history, types of credit used, and recent credit inquiries. credit scoring algorithm is based on artificial intelligence (AI) and machine learning (ML) technologies. AI scoring is a great solution for credit scoring using more data to an individualized credit score based on factors including current income, employment opportunity, recent credit history, and ability to earn in addition to older credit history. As a result, credit scoring using AI provides more sensitive, personalized credit score assessments based on an array of additional real-time factors. credit scoring solution allows banks, financial institutions and credit unions to use credit scoring in risk-based pricing in which the terms of a loan, including the interest rate, offered to borrowers are based on the probability of repayment.

AI credit scoring key benefits

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Higher Speed

AI credit scoring software cuts the time to minutes to verify application and shortens the decision-making process

Automated process

AI can reduce staff expenses by automating the whole credit risk management process

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Decline in credit losses

Prediction of delinquencies before they actually occur is one of the main goals of AI credit risk management software

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Using real-time data

AI-based credit scoring system continuously monitors the data of the customers. It can provide precise results of creditworthiness of a customer at any given point of time

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Higher accuracy

AI can process a huge amount of information and detect patterns as much error-free as possible.

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Improve customer experience

Intelligent analysis of transactional data help focus on the most pertinent customer information to offer a pre-selection of suitable credit products

Check out Data Science solutions for finance

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Fraud Prevention

Find and fix key high-risk incidents as they are happening

Powered by AI, ML. Self-Learning Algorithms. Automated, Real-Time

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Automated Reconciliation

Automate the matching and reconciliation of transactions

Save hundreds of working hours on the reconciliation process for developers, managers, and accountants

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Real-time anomaly detection

Identify anomalies

Detect unexpected transaction amounts, frequency, and take actions in real-time

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