Photo Credit: LendIt USA
We’re back from this year’s LendIt USA conference in New York City, where a big topic was Artificial Intelligence (AI) and Machine Learning.
Data scientists have made dramatic progress with AI and Machine Learning in the past few years. (This New York Times article describes some of the key breakthroughs, and this FinTechBusiness article describes near-term applications for financial services.)
Now lenders are looking for opportunities to apply these exciting technologies to lending decisions. Can Machine Learning help lenders refine data waterfalls to make more profitable decisions on the fly, eliminating the need to add highly trained staff in order to improve data analysis?
At DSi, we’ve been believers in Machine Learning for a long time.
Our patented Mobile Intercept ID authentication solution uses Machine Learning to become increasingly astute at detecting fake IDs.
Our Accelerated Insight account-screening solution out-of-the-box delivers higher match rates and more predictive risk/confidence scores than other account-screening services. Through ongoing exposure to a particular organization’s customer base, the solution can be refined to deliver ever more accurate predictions regarding an applicant’s likely profitability or FPD/charge-off, as well as indications of which product would best meet the applicant's needs.
Interested in learning more about our Machine-Learning technology and how it can help your organization? Contact us, and we’ll be glad to share our findings.
Are your lending decisions focused on FPD at the expense of profit?
Our analysis of non-bank lenders finds that FPD is no more predictive of profitability than a coin toss. Read our white paper to learn why.