Accelerate Lending: Targeted Leads, Faster Approval & Streamline Risk Evaluation.
Overview
Our client, a microfinance lending company based out of North America, currently faces challenges with their traditional loan approval process, leading to delays and potential errors The client currently relies on a traditional, manual review, and risk evaluation process to approve loans. However, this manual process not only causes significant delays but also leaves room for errors. A notable pain-point is the lack of precise and personalized explanations provided to applicants when their loan applications are rejected.
The statistics underscore the urgent need for an advanced system that can identify default patterns and reduce the need for manual intervention in the loan approval process. Additionally, the client seeks to gain a deeper understanding of borrower personas and behavioral patterns, allowing for better insights into their custome
Solution Capabilities
AutoML
- Low/no-code solution for seamless data integration, simplifying the process of connecting to different data sources and preparing aggregated data with just a few clicks.
- Built-in intelligent data cleaning and preparation processes streamline data analysis by enabling the quick application of diverse advanced algorithms, accelerating experimentation.
- Empowers technical users to optimize business KPIs through multiple experiments, allowing fine-tuning of data treatments, feature selection, mathematical transformations, and strategic selection of advanced algorithms.
Explain My Model
- An advanced inbuilt algorithm deciphers patterns utilized by machine learning algorithms, transforming them into easily understandable insights for business stakeholders.
- The explainability module enables the risk assessment team to gain insights into confidence predictions by delving deep into underlying factors and patterns that drive these predictions.
- Marketing teams can leverage these cohorts of “look-alike” personas to enhance targeted outreach, increasing sales and improving overall business performance.
Adoption
- User specific features for loan officers and underwriters to manage loan application backlogs, including an intuitive chart to visualize applications requiring review and the contribution of each feature to the model’s decision-making process.
- The “What-IF” simulator allows end users to explore different scenarios and observe the impact of changes on decision-making, enhancing their understanding of potential variations and outcomes based on different inputs.
Benefits
- Efficient Experimentation & Automation
- Collaborative Model Improvement: AutoML and explainability features facilitate feedback exchange between technical and business teams.
- Enhanced Risk Assessment: The explainability module empowers risk assessment teams to validate patterns and focus on critical areas.
- Targeted Marketing: Identifies look-alike personas for precise marketing targeting, increasing sales.
94%
Accuracy
60%
Faster loan
