With the world continuously evolving around us, we are seeing a new generation of borrowers, customers with no credit history and a large digital footprint.
The traditional policy-driven rules-based credit decisioning that has worked so far is failing to accurately assess these first-time borrowers. Moreover, as the number of data sets are increasing, maintaining these policies is posing new challenges for the financial institutions.
With Perfios AI, credit decisioning no longer needs to be subjective and restricted to fixed Business Rules of credit risk management that were approved ages ago. Perfios AI uses its cutting-edge data and analytics platform to extract and perform real-time data analysis on the large digital footprint as a new source of insight for FIs to consider.
FIs can now make data-backed lending decisions, that are more accurate and real-time with drastically reduced cost pressures, infusing agility into the credit decisioning teams to manoeuvre quickly, and helping them launch new product lines with new sets of data, both traditional and non-traditional.