Fast and accurate creditworthiness assessment using scoring automation tools
Industry: Lending
Accelerated application process
Shortened application process and reduction in the amount of required data
Risk optimization
Credit portfolio risk optimization and increase in the number of loans granted
Short time-to-market
Rapid market deployment and business scaling
CLIENT
Meet Novalend
Novalend is a modern lending platform for micro and small businesses, providing quick access to capital through a fully online process and credit decision within 60 minutes.
CHALLENGE
Manual and time-consuming risk assessment
Novalend faced the challenge of automating credit risk assessment, including reducing application analysis time, eliminating human error, integrating data from multiple sources, and implementing effective scoring and decision engines – all without investing in an internal IT department.
Learn how Novalend effectively and quickly assesses credit risk using the MLOps platform from Algolytics.
Cooperation with Algolytics allowed us to focus on what’s most important for us – developing our financial products. Algolytics’ technology provided us with tools for fast and accurate customer risk assessment, enabling us to significantly increase our operational efficiency and deliver value to our clients faster.
SOLUTION
Automation of the risk assessment process
Algolytics provided Novalend with the MLOps platform, on which a dedicated scoring solution was built to automate the entire credit risk assessment process.
RESULTS
More efficient process and increase in the number of loans granted
The implementation of the Algolytics solution brought Novalend numerous benefits:
- Shortened application process and reduction in required data
- Credit risk optimization
- Increase in the number of loans granted
- Time and resource savings
DOWNLOAD THE FULL CASE STUDY
Fill out the form to learn how Novalend effectively and quickly assesses credit risk using the MLOps platform from Algolytics.