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.