Automated Credit-Loan Platform based on AI-technology
A fully automated processes The Corex.ai system is a fully automated loan management system. This solution extends the productivity of Your loan business to the maximum. Easily integrates with other data service providers. From Data input to vali- dation, Credit History, Scoring & Rating to Decision making. Fully automated for the maximum security. Data Input Website registration/mobile application Through other affiliates and agents Agent API Validation Compliance checks Rule based checks
A fully automated processes Credit History Connectivity to third data providers Automated checks in internal loan databases Scoring & Rating Internal third party data rating system Personalized, flexible and internal loan data scoring Possibility to rate the scores Decision Manual/automated loan confirmations and rejections Automatic money transfer
End-to-end lending process Corex.ai is an end-to-end integrated solution. This solution covers the full lending cycle from application, through loan origination, risk assessment, decision-making , monitoring and management control of loans. It can all be made to be automated or manually controlled according to your needs and your budget. > Data input > Customer verification a n n d o a i t p a p u r > Product setup (customer loans, l o > Credit history check a v v a E l payday loans, installment loans, secured > Scoring and rating loans, syndicated loans) > Automated loan approval > Pricing control S e r > Marketing and promotion setup v i c > Loan proposal n i n o Lending g i t a a n n i life cycle d g i r r e O p o r t > Manual, semi-automated, i n g automated payment process > Automated/manual deduction > Automated email and > Late, penalty, tax calculator SMS/Notifications > External/internal bailaff control n C o i o t c l l e
End-to-end lending process Replacing manual steps with automated decision rules, transforming paper into digital format, and gathering performance data on all aspects of your lending practice lets you: Provide a better user experience to improve the speed and accuracy of loan applications Process a larger number of loan applications with existing resources Eliminate sources of human error for faster, better-quality evaluation decisions Establish predictable, repeatable, and auditable processes that support compliance Reduce delays and costs associated with paper processes Analyze process and loan performance with the goal of continually improving efficiency and profitability
Accurate and Repeatable Decisioning Automation improves applicant evaluation and loan decisioning. It eliminates repetitive manual steps that are best executed digitally and allows human expertise to be applied where it works best. Examples include:. Decision rules evaluate applicant attributes and provide immediate loan approval for well-qualified applicants or declination for applicants who have no credit history, are underage, or over-extended credit. Integration with credit data sources and services such as Corex AI Algorithms lets lenders automatically and quickly verify applicant information. Decision rule flexibility can guide processing for exception applications, performing certain steps of the evaluation process automatically and delegating more complex decisions to experienced underwriters. No lost or misplaced documents. Paper documents converted to digital images are immediately and securely accessible by the underwriter, so they can review applicant materials more quickly. The combination of decision rules and integration with credit data sources and services lets lenders automatically calculate optimum loan structures and terms. Decision rules provide predictable, repeatable processes that remove the variations associated with human decisions and demonstrate compliance with lending regulations.
Multichannel for Digital Notification Automation decreases the manual work associated with notifi- cations. Every application requires a response, and a digital economy gives lenders great flexibility in how to respond. An au- tomated loan processing system helps lenders create a variety of notification templates that are then populated with applicant and loan-specific information before sending the notification. Corex platform communication gives lenders the ability to send notifications by email, print, and even text messages. One clear advantage of Corex platform is the reduction of print- ing and mailing costs. Even better: Secure, digital retention of no- tifications as records. Not only is this beneficial in the event of demonstrating regulatory compliance, as in the case of adverse action letters, but it also relieves lenders of the cost and risks in storing paper documents.
Analytics for Continuous Process Improvement In addition to the advantages mentioned above, automation opens the door to analysis of your lending practices. An auto- mated process creates a wealth of application, underwriting, and funding data. Analytical tools specifically designed for lending allow you to slice and dice this data to determine where improvements can be made to current lending practices. Your analytic results will show you where you are already performing well (no need for improvement) and more importantly identify areas for lending practice improvement. With analytics tools you can: Identify the geographies that send you the best loan opportunities and determine how you might replicate this success in other geographies. Determine which borrower factors have the greatest influence on loan performance and use this insight to accept more applicants with these attributes. Discover which loan structures and terms reduce risk default for subprime borrowers. Identify borrower characteristics that lead to unexpected delinquencies and implement more stringent qualification steps to reduce risk. Identify unnecessary, time-consuming manual steps in loan origination that can be improved through the use of decision rules.
AI Process NL Automated 89% of a manual process A member submit a The provides makes a decision The decision and date is The results policy compliant on the compliant recorded on the policy Automation 89% Rate Accuracy 85% Rate Improved accuracy of time stamp and other data extracted from QCR PRA BPM 62% to 85% Digitalization Rules to Manage Automated 89% of the manual policy with the extract data process process for extracting a date compliant and from the policy expertions from the policy decision recorded date
Customer experience in financial services Onmichannel capabilities being implemented by financial firms in 2017 As online banking has allowed consumers to shop around for preferable rates, industry leaders are attempting to stymie this burgeoning competition by increasing cross-sell opportunities. Making experiences easy, seamless and personalized should be a priority in any industry, but consumers increasingly expect it from financial services firms. Customer relationship 57% management Trend attributed key: 47% Mobile banking Very Low Low Medium Hight Very Hight Online account 46% management 31% Maturity Amplitude Online lending 26% Interactive ATMs 0% 10% 20% 30% 40% 50% 60% Velocity Impact % of banking executive survey respondents
Supervised learning-checking accuracy Training Training Training 60% set Model Known correct output Validation Known correct Compare 40% output results calculate sccuracy Validation score Test set Prediction Predicted output
Trusted Personal data storaging Identity by Consensus DocChain: Data Store Permissioned Blockchain SDK Identity Identity Hash Owner Provider Identity Owner Private Key SDK Identity Provider Part Key Part Key Part Key SDK Identity Cold servers Trusted Trusted Trusted Requester Key Holder Key Holder Key Holder 1 2
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Top-5 Challenges Faced by Market Loss of profit due to incapability to evaluate a deal Human predictions have low accuracy - only 48% Credit specialists are afraid of decision-making Credit analysis managers operate with lots of mistakes Analytic team requires lots of expenses
Cloud Computing Solution Modular Architecture Allows to unfold a system anywhere in the world immediately. Allows to enrich the system with additional functions, if ndependent from enterprise computing power. needed, without capital expenses. White Label AI We developed unique algorithms that allow to normalize incoming data, process and analyze it with our systems. Design was developed in a way that allows our specialists They proceed fast and adjust to new data. Thereby you to customize system interface according to your get the most honest evaluation of each deal, considering corporate identity previous experience of each counterparty collaboration
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