Risk Insights is a software solution designed for lenders and financial institutions to assess the repayment capacity and risk profiles of applicants. It leverages open banking data to provide a comprehensive understanding of an applicant's financial situation, enabling faster and more accurate credit decisions. The software offers granular insights into various aspects of an applicant's financial behavior, including gambling habits, spending patterns, and loan history. This allows lenders to identify potential risks earlier in the application process, reducing the likelihood of defaults and minimizing credit losses. The integration with open banking APIs provides a seamless and efficient way to access the necessary financial data, streamlining the application process for both lenders and borrowers. Risk Insights helps lenders gain confidence in marginal approvals by providing a detailed picture of the applicant's financial health, allowing them to make informed decisions and approve more applications while mitigating risk. Key features include the ability to analyze data points such as income spent on gambling, total loan amounts and repayment ratios, overdraft activity, and collections payments. The software provides a holistic view of the applicant's financial behavior, allowing lenders to develop more accurate risk assessments. It offers real-time performance reports without requiring integration with third-party solutions, and allows for no-code customization to match the branding of the lender. The software also boasts a high GINI score, a significant reduction in credit loss, and a tenfold model uplift compared to traditional credit bureaus.

Features

Seamless Risk Decisioning

• Provides a streamlined way to determine a customer's risk exposure and gain a clear understanding of their financials, facilitating instant decisions without compromising quality.
  • Instant decisions without sacrificing quality.
  • Clear understanding of applicant's financials.

Granular Insights

• Offers over 200 granular insights into financial behavior, such as gambling, spending, and ATM usage, allowing lenders to choose relevant features and enhance their risk assessment.
  • 200+ granular insights.
  • Improved risk decision-making.
  • Customization of relevant features.

Improved Risk Assessment

• Helps lenders create detailed risk profiles by providing comprehensive financial data, improving the application process for consumers and reducing credit losses.
  • Detailed risk profiles.
  • Improved application process for consumers.
  • Reduced credit losses.