BeeEye Blog

Banks Without AI-Based Credit Risk Modeling Struggle to Keep Pace

Posted by Assaf Binstock on Apr 1, 2019 3:54:57 PM

 

So much has changed in the past ten years... unfortunately, most traditional banks have been slow to adapt.

In parallel with traditional institutions of the banking sector, a thriving fintech industry has flourished, challenging older hierarchies and appealing to the masses with innovative and exciting new solutions. After decades of a relatively stable banking landscape, developments in AI, connectivity, blockchain, and general banking regulation have brought about massive change.

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Why Machine Learning Improves Inadequate Traditional Credit Risk Models

Posted by Assaf Binstock on Feb 25, 2019 10:43:42 AM

As competition increases and defaults rise, banks, credit card companies and non-bank lenders all seek to create a more accurate credit scoring model. No matter what type of financial institution involved or what model they employ, consumer credit scoring is facing new and increasing challenges.

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Why 2019 is the Year to Move to AI-Based Credit Scoring Modeling

Posted by Assaf Binstock on Jan 24, 2019 10:18:16 AM

As we awaken to 2019, recent financial technology developments are signaling a new disruptive era in credit scoring. Modern credit processes and risk modeling platforms are leveling up with algorithm-based solutions that are using Artificial Intelligence (AI)  based innovations. Improved credit scores usage combined with data from alternative sources are offering deeper data insights, greater accuracy, and more financial transparency. In effect Machine Learning for credit risk models are closing an information gap between banks and consumers and opening opportunities for new consumer experiences.

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Innovating the Future of Credit Banking

Increase the profitability of your lending business with AI machine learning enterprise software.

  • Reduce the Credit Risk
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  • Achieve Advanced ML Modeling
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