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Leveraging artificial intelligence (AI) for
credit scoring
Case study
A bank in Philippines was looking to provid...
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Leveraging artificial intelligence (AI) for credit scoring

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Lending solutions leverage on emerging technologies to simplify the lending process and to increase the accessibility of lending services. Lending solution encompasses functions like credit scoring, AI deployment, alternative lending solutions and intuitive mobile solutions for lending.

The AI based solution allows lending companies to perform credit scoring with the aid of AI. The solution allows the firm to reduce the cost of credit scoring and create more accurate credit scores. The AI program analyzes the data provided and automates the credit scoring process. The automated process produces credit scores quickly and accurately, saving time and money.

The AI system leverages on machine learning technology to constantly update its processes to create even more accurate credit scores over time.

Find out more at www.ey.com/sg/fintechhub.
For enquiries, contact us via email at fintech@sg.ey.com.

Veröffentlicht in: Business
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Leveraging artificial intelligence (AI) for credit scoring

  1. 1. Leveraging artificial intelligence (AI) for credit scoring Case study Context: A bank in Philippines was looking to provide lending solutions to financially include the unbanked population. Traditional credit scoring was used to gauge the credit worthiness of the consumers. Because of lack of credit bureau data, the credit score was not reliable to assess the creditworthiness of the customers and their willingness to pay. Proposed solution: An alternative credit scoring solution that integrates AI and big data Leveraging on big data analytics technology to generate creditworthiness assessments Areas of analysis: • Social media • Browsing behavior • Background information • Payment habits • Employment data Client impact: • Financially included the underbanked consumers • Generated reliable creditworthiness assessments for small and medium enterprises (SMEs) • Attracted SMEs from developing markets Contact us Varun Mittal EY Global Emerging Markets FinTech Leader varun.mittal@sg.ey.com Challenges faced by institutions Inaccurate or manipulated data on social network Resource- intensive reporting Compliance issues with credit laws and regulations Hiring additional compliance staff Data segregation and security issues Advanced analytics processing requirements and complexities Solution benefits Efficient and faster outcomes 1 Effective and holistic credit assessment 2 Better customer experience 3 Personalized structuring 4 AI Leading-edge tech capabilities Credit scoring engine Text analytics Big data Clickstream Time or Location Telco data Credit registers Employer data Payments Purchase history Sales history Chargebacks Applications Device Contacts Settings Friends Comments Posts Likes Timeline Personal data Hobbies Telco data Smart banking GPS data Location of card usageClient address ProxiesCookies Third-party data Geo- location similarities E-commerce Social Media PC, Mobile Browsing behavior AI-powered credit scoring Website: www.ey.com/sg/fintechhub Email: fintech@sg.ey.com Sahil Gupta EY ASEAN FinTech Manager sahil.gupta@sg.ey.com
  2. 2. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. © 2018 EYGM Limited. All Rights Reserved. EYG no. 011378-18Gbl ED None. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice. ey.com