SUCCESS STORY

Digital Bank drives profitability by reducing credit loss rates by 50%

creditX, AI-powered credit risk modelling, improved scorecard accuracy by 25 GINI points
Digital Bank provisioning salary advance, micro-loans, and working capital loans

Country: Mongolia

Company Size: 50 – 100 Employees

Type: Fintech, Retail Lending

Products: Micro Loans; Salary Advance

Results after 3 months

<1 week

to develop and deploy new credit models

8%

Increase in Approvals which reversed rejection rates

The Challenge

A digital lender in North Asia was struggling to grow their retail lending business, resulting in high loss rates for their salary advance and micro-loans. They were using an AI modelling solution but it was still a resource-intensive, required IT support, and took 6 – 8 months to develop & deploy a scorecard with accuracy of <40 GINI.

The Solution — creditX

  • Ensemble ML algorithms for higher predictive accuracy
  • Rapid integration into the bank’s infrastructure using API
  • Customized rules decision engine to incorporate broader policy and regulatory rules
  • Implementation completed in 14 weeks
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The Results

+25 pts

Increase in GINI accuracy

5 Days

to develop & deploy new credit models

+15%

Increase in approval rates

-50%

Reduction in gross credit losses

Stemming Loss Rates

Our customer saw a drastic 50% reduction in loss rates using a credit model developed & deployed on creditX. At the same time, they experienced a 15% increase in approvals resulting in significant increases in profitability.

Easy and Efficient Modelling

creditX saved our customer thousands of man hours across data science, risk and IT by automating the entire credit risk model development, validation and deployment. Today, 1 person manages the entire process, with other teams deployed across other value-adding projects.

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“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

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