Credit Scoring AI
Predicts the probability that a person will repay a loan, by training on historical loan outcomes - combines credit bureau and other data sources as input. Able to combine thousands of different data features to predict a probability.
Significant improvement in loan default rates.
To streamline operations, TESS is a text-based virtual assistant that assists customers during the loan application process. Its text-based interface on WhatsApp and Facebook Messenger aims to enhance and personalise the user experience.
Automated support and responses to questions, assistance with loan applications and alternative way to e.g. browse a website (through a text interface).
Proactive collections AI
To boost the efficiency of collections, MyBucks Artificial Intelligence Collections Algorithm (MAICA) takes proactive steps to reduce the occurrence instance of missed payments by monitoring client credit profiles. MAICA continually monitors client credit profiles and other data sources to maximise collections.
Significant improvement in collection rates.
Income and Expenses calculator
Towards the goal of end-to-end loan applications and a fully digital experience, Automated MyBucks Income and Expenses calculator (AMIE) implements Optical Character Recognition (OCR) that streamlines the digitisation of bank statements and automatically classifies income and expense transactions that are used to calculate affordability.
Automated MyBucks Income and Expenses calculator.