E-Commerce startup scales from 1,000 loans to over 40,000 loans within 6 months
Country
Company Size
Products
Type
The Challenge
The entire credit application process was manual and hampered by a lack of reliable Credit Bureau data, bank statements and financial statements, especially for women-owned MSMEs. Additionally, they were a Series A company and did not have a credit risk expert in-house
The Results
-10%
Processing time per application
80 pts
Increase in approval rates
40k+
Reduction in loss rates
<1s
Unprecedented Scale
The high predictive accuracy of credit models generated by creditX resulted in our customer transitioning from lending to 1,000 MSMEs to over 40,000 MSMEs within 6 months, while seeing loss rates reducing by 10%. The growth has enabled them to scale to other markets within Africa.
Enabling Financial Inclusion with Ease
85% of their loans are taken up by Women-owned MSMEs, traditionally an underserved segment with regards to access to credit. Without any in-house credit modellers, the Core Leadership team underwent training and were developing & deploying credit models without any support from finbotsAI.
The Solution 
Ensemble ML algorithms for higher predictive accuracy
Models developed using traditional demographic data, historical data and supply chain data
Seamless integration with customer’s Datawarehouse, LOS & LMS systems
Enabled real time processing of credit applications
Results after 3 months
<1 week
to develop and deploy new credit models
8%
Increase in Approvals which reversed rejection rates
“A game-changer”
finbots.ai’s solution, creditX, is a game changer in credit modelling that supports our Bank’s digital transformation journey.
– Ti Eng Hui, CEO, Baiduri Bank
Book a Demo
Let us show you how finbots creditX can help your lending business with a no-obligation call and demo.
Book a demo
Let us show you how fnbots creditX can help your lending business with a no-obligation call and demo
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