Here come the robots: Speeding and spicing up the credit approval with Machine Learning
28.06.2021 Share +
Time is an extremely valuable asset and some say it is the most precious one. And, when you need money fast and you have to wait for it, it is not a pleasant experience. It is not also a joy for us, because we want to be closer to our customers and partners. That’s why we always try to find solutions and technologies to speed (and spice) up the lending processes.
Now, we are delighted to present you the future: Machine Learning will accelerate our lending processes. We are introducing a Machine Learning algorithm for credit risk predictions developed with StatDec, a leading provider of credit scoring services and innovative modelling solutions in Eastern Europe for over 30 years.
StatDec has an amazing experience in processing massive datasets and developing models. The Machine Learning algorithm will be used to increase accuracy of risk predictions and boost efficiency in assessing a potential customer base. This way, we will increase efficiency even more and will raise approved loan numbers. This is a great boost for our strategy to become an even more inclusive lender, through innovation and digitalization.
“Machine Learning is next generation tech that can radically transform lending processes, allowing a more accurate risk assessment and a faster decision process in approving loans. At TBI we are already integrating advanced technologies and, as a fintech-minded early-adopter, we are always seeking to innovate further. The StatDec Machine Learning algorithm helps us ensure higher efficiency in assessing our potential customer base, act fast and improve the quality of our decisions. For customers, this means no hassle lending in a faster and easier process than ever”, says Costin Mincovici, Chief Credit Officer at TBI Bank.