Over the years of building applications for financial institutions big and small, we’ve noticed patterns in the solutions we’ve built. Most models are either to increase existing revenue, prevent loss of revenue or create new paths for revenue. Given the fact that Finance is one of the more forward-thinking verticals, we’ve had the pleasure of building applications, both data science-based and otherwise, that have done all three in various forms.
Are you leaving money on the table when addressing the needs of your customers? Our Classification and Segmentation algorithms can help you exponentially increase your cross sell/up sell opportunities to existing customers.
Unsure of which leads to go after? Ideas2IT’s Funnel Optimization algorithms can help sift through the numerous leads that clog your sales effort and prioritize the ones most likely to give you maximum revenues.
Ideas2IT’s Social Scoring algorithms can help identify a bigger pool of customers. Our algorithms enhance traditional Credit Scores by tracking social media patterns, and reduce ambiguity on borderline cases. This helps increase loan acceptance rates, while still keeping delinquencies down.
Our expertise in building one of the first fraud detection algorithms in the industry, widely deployed in multiple US states will help you battle the ever-increasing fraud in the industry. Identify fraudulent transactions in real time, insider-trading patterns and much more.
From origination to portfolio management, financial institutions are using bots for automation. We build chatbots that come with pre-built models for finance, from loan underwriting to financial modelling and personalized customer service.
Swap Analytics for Credit Default Swaps and Interest Rate Swaps. The data was extracted, translated and loaded from three different sources. We built custom models using Python which was applied to the crunched data. The resulting predictions were visualized using D3.js.
The client provides a social identifier that is a free web identity credential controlled by the user. We designed and implemented an algorithm (based on research out of Stanford University) on Hadoop using PIG to evaluate the authenticity of an individual’s profile attributes using terabytes of social networking data. We also implemented various fraud detection and prevention solutions alongside viral social features to enable users to leverage their social graph to add to their assert score.
The Popular Short Term Lending Portal in question (from the East Coast of US) empowers Mortgage brokers to compete with banks and large retail lenders by providing Predictive Technology and Tools. Its CoreLogic model predicts pre-payments and loan defaults. We did the segmentation to increase the accuracy to predict delinquency of a loan given the Data Bureau, Customer Transaction and Customer Behavior data.
At Ideas2IT, we learn every day. From product engineering to data science, from blockchain to chatbots, our experts discuss driving forces at the intersection of tech and business. We look at business through the lens of technology, and break down how cutting-edge tech will alter the way companies in various industries operate. These are some of our learnings building financial applications for over a decade.
The success of any lending institution depends heavily on its ability to identify and approve as many new loans as possible, while keeping risks at a minimum. A key ingredient in this process is credit scoring. In theory, analysts at banks review applicant scores and then decide loan amounts, interest rates, loan periods and so forth.
Our Data Science team has built a proprietary framework with which we monitor customers’ buying habits, online activity and other behavioral attributes and interpret these metrics to come up with predictive lead scores. Here’s how we do it.
For financial institutions mining of big data provides a huge opportunity to stand out from the competition. The data landscape for financial institutions is changing fast. It is not enough to leverage institutional data. This has to be augmented with open data like social to enhance decision making.
Let us know which of our services you’re interested in, and our team will get back to you shortly!
We love tech, and we love innovation. If you do as well, get in touch! We’d love to partner with you.
Working at Ideas2IT is unlike any other company. You not only work on cutting-edge tech, you also get tailored feedback and guidance to achieve your career goals.