Credit Scoring

A CBN Accredited Credit Bureau got an automated and scalable credit scoring system that gave them better credit scores with fewer lending risks and reduced their processing time.

Finance
Risk Assesment
Credit Scoring

Background

Current-state credit scoring systems evaluate a person's credit worthiness and risk based on manual numerical statistical systems.

But this only works for fast lending in small amounts and is usually not scalable.

This company wanted a scalable system that could provide real time credit ratings and demographics for them and also offer commercial credit monitoring and fraud prevention services directly to consumers. This was when they chose Voyance.

The Solution

With Voyance Pipelines and ML systems, this business could easily plug their data systems and run predictive algorithms to provide real time credit ratings and demographics.

They could also offer commercial credit monitoring and fraud prevention services directly to their customers.

Choosing Voyance allowed them leveraged predictive models to assess applicant’s credit scores. It enabled reduced compliance and regulatory costs with better decision making.

The Results

This automated process fast-tracked their credit assessment process and gave them a more accurate view of borrowers during credit evaluation.

As a result, they were able to get better credit scores with fewer lending risks.

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