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
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.
“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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