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Data and AI

AI-powered credit decisioning systems

Reduce risk and expand your customer base with an AI-powered decisioning platform

Bolster and accelerate your risk assessment process to approve or deny applicants with greater precision powered by AI and access to new data. You can increase revenue from more loan approvals, gain higher profits from fewer defaults, and provide a better customer experience.

Better insights reduce risks and can help expand your customer base by reaching the unbanked and underbanked markets with a data-driven view of an applicant’s financial life.

AI-powered credit decisioning systems can:

  • Increase automated decisioning by 70-90% with gains of 30-50% in automated approvals 1
  • Improve overall approval rates by 15-40% while decreasing loss rates by 10-25% 2
  • Continuously improve performance as machine learning (ML) constantly monitors results to finetune the system’s decision-making models
  • Reach small/medium-size businesses missed by traditional decision systems such as companies hit hard by COVID

Integration with existing loan origination systems can be reduced to just a few weeks with application programming interfaces (APIs) and AI-powered credit decisioning systems are available on a software-as-a-service basis. Current cloud-based solutions typically include sophisticated AI and ML models, a library of credit-risk predictors, and preconfigured features for making automated, real-time credit decisions across credit and lending products.

Let’s explore together how AI-powered credit decisioning platforms can help you meet expectations of existing customers while finding data-driven, innovative ways to reach new customers.

1 https://www.scienaptic.ai/featured-insights

2 https://www.scienaptic.ai/credit-underwriting

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