Nova Credit’s Post

Alternative data enriches credit decisions by considering factors beyond the usual credit history & payment behavior… #alternativedata #enrich #authentication #realtime #data #transaction #bankerslab #smtechthai #smtechthailand

With ML’s ability to quickly consume data and extract insights, lenders are getting a better understanding of the true riskiness of their applicants. We sat down with Jennifer Chien at Consumer Reports to talk more about our work and the importance of bringing interpretability to credit models. Check out the full interview here: https://lnkd.in/gCmw_jNh #AIinLending #Interpretability #CreditRisk #AIforGood

Excited to share the latest insights from experts Matthew Flannery and Matt M. at Branch International, a leading microlender and valued Taktile customer! Their recent article delves into Branch’s current applications of GenAI in credit (data labeling with LLMs) as well as exploring future potential applications. I couldn't agree more with their outlook on the use of GenAI in credit: We are just beginning to tap into its potential for making unstructured data more actionable and predictive for credit decisions. I see the use of GenAI to create synthetic datasets as incredibly valuable to lenders launching new products or entering new segments where there is a complete lack of historical data on which to model credit decisions. Instead of purchasing expensive datasets from bureaus, for example, lenders could use GenAI to create a ton of synthetic data where they can undertake backtesting and experiments on their policies straight away. This approach could allow them to gather initial insights faster while awaiting the accumulation of customer default data. It's amazing to see Branch continuously pushing the boundaries of credit risk modeling 🚀🚀 The link to the article is in the comments 👇

In the present data-rich landscape, financial institutions need business intelligence tools to drive data-informed decisions for expansion. Dashboards serve as a strategic interface, not only converting intricate data sets into clear visualizations but also providing tailored KPI monitoring for financial institutions, empowering stakeholders to make informed, data-driven decisions. This article delves into the transformative potential of operational dashboards and introduces Hotfoot's "Lensights ai," an all-encompassing dashboard solution that harnesses data, thereby enabling lenders to streamline the lending process for increased productivity and efficiency. Read more : https://lnkd.in/gzzUrJfu #dashboards #operationaldashboards #lending #banks #nbfcs #data_driven #Lensights_ai #hotfoot #fintech #banking #Financial_Institution

AI-simulated synthetic data has the potential to revolutionise innovation in the ongoing fight in banking and financial services against APP fraud. The Financial Conduct Authority use our data - download this free ebook to learn more. https://lnkd.in/eiTfQzJT #syntheticdata #appfraud #innovation #collaboration

Some coverage of our fireside chat at the World Credit Union Conference - for my data science geek friends, my comment on credit scores being used for 'classification' refers to the fact that most lenders use scores and other simple ratios to classify applicants into a handful of tiers and buckets rather than using it to model the expected performance of an individual loan over time. Credit risk scoring models are not themselves classification algorithms :). Just sayin'.

60 Seconds to Stop a Bad Loan Before It Starts 💡 What if you could predict loan default risk in under a minute? With just 60 seconds of voice data, our platform analyzes speech patterns to detect risk before it's too late. Financial institutions are using our AI-driven voice analytics to make faster, smarter decisions that prevent bad loans and safeguard revenue. 🎯 Interested in reducing financial risk? Discover how we’re helping banks and lenders stay ahead of defaults. Discover how at voicesense.com 💬 How are you improving loan risk management in 2024? Let’s talk in the comments! #Finance #RiskManagement #VoiceAnalytics #AI

In today's dynamic landscape, credit unions are embracing cutting-edge AI technologies to elevate their operations and stay ahead of the curve. By harnessing the power of AI-Powered Automation & Analytics, credit unions are revolutionizing key areas like risk management, compliance, and loan processing. With a focus on efficiency and member satisfaction, credit unions are deploying AI-powered solutions to streamline processes and enhance member experiences. Check out our dedicated credit unions industry focus page to explore how credit unions are delivering unparalleled value to their members through AI-powered solutions. https://hubs.ly/Q02wJhRG0 #Hyperautomation #Automation #AI #Analytics #Data #Security #GoLydo #CreditUnion

Diving into insights at the morning breakout session! Steve Williams took us on a journey through real-world case studies and insights, exploring the evolving landscape of digital intelligence, payments, lending, AI and more. The credit union industry is embracing speed, scale, and real-time engagement. Share your top takeaways from Steve’s Chronicles of Credit Union Transformation session. #CUESSymposium #LearnWithCUES

The #GenAI revolution in financial analysis is underway. This week, Moody’s was a sponsor of the Credit Research Foundation's 2024 August Forum & EXPO in Nashville. The two-and-a-half-day event addressed the critical, near-term opportunities for credit executives, including how GenAI can uncover new levels of granular insight. Among the themes discussed was how GenAI can empower users to efficiently digest a vast amount of financial and non-financial data – and even extract from non-traditional data sources that have hitherto been outside automated credit analysis processes. Learn more about Moody's trade credit solutions can enable your business to make better decisions: https://lnkd.in/e3rZQnR7