Issuing loans across multiple countries requires the bank to abide by a large number of EU and country-specific regulations that increase the complexity of risk decisioning. As Bigbank expanded, it needed to improve and speed up its credit scoring and loan decisioning without compromising the quality of issued loans. Bigbank embarked on an ambitious project to completely renew its technology infrastructure, including automating its cumbersome manual decisioning processes.
Benefits:
• Changes to risk models and policies are simpler and quicker with Provenir, since they don’t require IT development.
• Provenir Cloud Suite enables rapid implementation where higher levels of automation are needed across multiple regions.
• Provenir improves the capture and effective use of customer data, so Bigbank can continue to provide great customer service.
Solution:
A key factor in choosing Provenir was the platform’s visual configuration capabilities. Using these tools, the bank’s analysts can easily design and modify decisioning rules to account for specific customer and country requirements.
Results:
Starting in Finland, Bigbank configured and deployed automated risk decisioning in just a few months. The bank immediately benefited from increased transparency allowing the team to quickly determine how well its risk models are working. For customers in Finland, the Provenir-powered solution has meant faster response to their loan applications. Decisioning now takes place in milliseconds instead of the days.
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