Here come the robots: Speeding and spicing up the credit approval with Machine Learning

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.

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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.

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.