Credit Risk Scoring

Determining credit worthiness and make better decisions

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Perspective

Managing credit risk is always a complex problem to solve with ever changing market volatility and customer demographics. Here at iSteer, we help our client realize the potential of AI & ML in risk evaluation of their customer credit worthiness and lending personalization using the credit risk models, not only limited to user behavior but by adding geo-political and economic status of the terrain of consumers.

Business Challenges in Consumer Loans

Archaic form of risk evaluation

Perhaps paper based, or traditional risk modelling techniques are resource intensive and resulting to many denials

No utilization of “Alternate Data”

Organizations not realizing the value borrower’s current situation or other extenuating factors, such as demographics, Utilities, Insurance details resulting to loosing borrowers to competition business

Individualized Approach

Lack of more granular and individualized approach limiting the business not to offer the differential pricing of interest rates

Omni-Channel experience

Lack of cohesion in the organization to treat the omni-channel borrowers and lack of providing the customer 360, leading to customer attrition

Business Challenges in Consumer Loans

Archaic form of risk evaluation

Perhaps paper based, or traditional risk modelling techniques are resource intensive and resulting to many denials

No utilization of “Alternate Data”

Organizations not realizing the value borrower’s current situation or other extenuating factors, such as demographics, Utilities, Insurance details resulting to loosing borrowers to competition business

Individualized Approach

Lack of more granular and individualized approach limiting the business not to offer the differential pricing of interest rates

Omni-Channel experience

Lack of cohesion in the organization to treat the omni-channel borrowers and lack of providing the customer 360, leading to customer attrition

The Proposed Solution

A data foundational layer such as data lake powered by TIBCO can be a solution for managing the disparate data coming from various channels for its correctness, completeness, accuracy and provision of real time data services.

Virtual Data Layer

Credit firms establishing centralized virtual data store combines omni-channel data leveraging SOA principles such as decoupling, reuse, and agility with key information governance principles, such as abstraction, shared semantic models and data standards, to enable IT to build and deploy a layered, enterprise-wide data architecture, this serves as a unified, enterprise-wide view of customer, demographics, Bureau, loans, marketing, utilities and other “Alternate data”

Enterprise Data Lake

An enterprise data lake combines streaming and interactive analytics and operates on based huge volumes of the structured, semi-structed and unstructured data pertaining to this solution , in a single easy-to-manage distributed cluster. Helps to persist the data and run heavy machine learning risk models to , This can be an optional data layer and iSteer recommends when there are heavy analytical work loads should be considered on vide varieties of data

Data science platform

This layer anchors as advanced analytical engine for the model selection, model training , configuration and create necessary workflows. The probability of the default score, customer credit risk profiling , customer segmentation and many more outcomes will be produced using state-of-the-art-data science platform allows organizations to expand the data science deployments across the organizations with flexible authoring and deployment capabilities

Benefits

Credit Risk scoring solution can enable:

Customer Segmentation

  • Decrease Likelihood of losing customer to a competitor
  • Differential Pricing
  • Increase the revolving credit line
  • High Exposure to sensitive sectors

Risk Based Pricing

  • Based customer creditworthiness
  • Offer lower interest rates

Customer Lifetime Value

  • Customer Retention
  • New Customer Acquisition cost
  • Maximize / Minimize marketing resources investment

Why iSteer?

iSteer: Your Trusted Global Technology Services Partner
iSteer is a renowned IT services and digital transformation solutions company with delivery centers across North America and Asia. Our team includes seasoned product engineers, architects, and designers who collaborate to provide specialized services, including product development, data management, application maintenance and management, integration, and automation. We prioritize delivering exceptional customer experiences and significant business impact through our approach.

Expertise in Digital Transformation

iSteer’s technology team has extensive expertise in defining, building, and delivering data-driven, digitally-enabled solutions that drive transformative human interactions, ensuring adherence to quality, budget, and schedule. We are committed to delivering best-of-the-breed digital transformation solutions that empower our customers to transform their businesses and better serve their customers.

Unmatched Subject Matter Expertise and Scale

iSteer brings unparalleled subject matter expertise, scale, and efficiencies that increase speed to market. Our shared culture and pedigree of delivering demonstrable change enable connected digital enterprises, and we pride ourselves on providing customized digital transformation solutions for each client's unique business needs.
Choose iSteer as your trusted global technology services partner for transforming your business. Our experienced team, technical expertise, and customer-centric approach helps you unleash your full potential, meet your business goals, and achieve success.