Fintech Lender overcomes high rejection rates for female borrowers with AI-Powered credit scoring
Country
Company Size
Products
Type
The Challenge
The Results
+25 pts
Processing time per application
< 1 week
Increase in approval rates
+15%
Reduction in loss rates
-10%
Bridging the Gender Divide
Within 3 months of using creditX, our customer saw a large uptick in approval rates amongst female borrowers, with a significant reduction in loss rates. This improved financial inclusion while increasing profitability.
Higher Operating Efficiency
The end-to-end process of developing and deploying credit models used to take 6 months and involved a team of 8 persons. It is now managed by 2 persons and takes less than a week to complete, allowing the team to focus on other value-adding projects.
The Solution 
Ensemble ML algorithms for higher predictive accuracy
Bias reduction techniques automated in scorecard development
Full automated solution seamlessly connected to Lender’s data warehouse and LOS system
Ability to create credit models for thin-file customers using historical data with option to add Credit Bureau data where available
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
COMPANY
Copyright © 2024 Finbots.AI - All Rights Reserved
