Improve the Quality of Loan Applications’ Risk Assessment
The iSteer Credit Risk Scoring platform, built on TIBCO Connect solutions, improves credit risk assessment and management, streamlining risk processing and improving risk scoring. iSteer provides enterprise business solutions for data integration, analytics, and data management to power next-generation organizations.
Financial service institutions often struggle with legacy infrastructure and poor data management across silos, creating a longer lead time for data-driven decision making. As more customers shift to online services, this can prove costly to both customers and banks, as approval processes may be hindered due to potential delays, impacting credit risk assessment.
Customers can apply online for installment loans, then provide their mandatory loan parameters such as demographics, previous loan history, and other required data points. iSteer's Credit Risk Scoring System processes these data points to generate the Probability of Default (PD) score and denial reasons as predefined by the customer risk team. These scores are then run through a set of business rules to decide the final loan amount approved for loan applications.
The platform’s API management, integration, and event processing rules reduce the risk of customer inaccuracies, reduce cost-to-serve, and improve risk assessment quality. Improve your financial services’ risk management with a one-stop shop for credit scoring.