Better lending decisions for banks

Offentlig prosjektsammendrag

Goscore develops various solutions within customer profiling and making credit scoring fair and based on real-time data for everyone in the EU. One of the applications of proper credit scoring is helping companies and private individuals pay their debt, which becomes especially important if the claim is forwarded to the debt collector. In this project, we are looking to validate needs for a personalized decision-making solution for banks to help their debtors to pay the debt with no additional fees and don't sacrifice neither personal nor household finance. We are also eager to help banks to satisfy their decisions in front of the Finanstilsynet. We have previous experience in analyzing data for loan application decision making; helping lenders to understand and fairly assess consumer credit scoring. And for this pre-project, we want to validate if that knowledge and experience can be applied and leveraged in another industry, debt collection, which has the benefit of being less complicated than banking and don’t have access to most of the data available to banks. Main goals of this study are: • to increase loan acceptance rate; • to reduce default rate; • to identify new sustainable customers. Other goals are to: • validate the need and strengthen the value proposition; • test if the data analysis help banks reach operational effectivity, increase debt return rate and get reliable forecasts for each case; • define which cases and tools could be used by the banks to improve payment rate, and to help private individuals to build sustainable personal or household economy; • map out the potential social sustainable impact this solution can have; and • confirm interest in the solution and get proven numbers to sign pilot customer(-s) to integrate and/or have an innovation contract.