SUCCESS STORY
Fintech Lender overcomes high rejection rates for female borrowers with AI-Powered credit scoring
Higher accuracy credit scoring boosted approvals by 15% and reduced losses by 10%
Digital lender in the Middle East provisioning personal loans
Country: United Arab Emirates
Company Size: 500 – 1,000 Employees
Type: Fintech, Retail Lending
Products: Personal Loans
Results after 3 months
<1 week
to develop and deploy new credit models
8%
Increase in Approvals which reversed rejection rates
The Challenge
A digital lender in the Middle East was experiencing disproportional high rejection rates for female blue collar borrowers, stifling their growth. Their credit risk scorecards took 6 months to build and had low GINI accuracy.
The Solution — creditX
The Results
+25 pts
Increase in GINI accuracy
< 1 week
to develop & deploy new credit models
+15%
Increase in approval rates
-10%
Reduction in gross credit losses
Bridging the Gender Divide
Within 3 months of using creditX, our customer saw a large uptick in approval rates amongst female borrowers, with a significant reduction in loss rates. This improved financial inclusion while increasing profitability.
Higher Operating Efficiency
The end-to-end process of developing and deploying credit models used to take 6 months and involved a team of 8 persons. It is now managed by 2 persons and takes less than a week to complete, allowing the team to focus on other value-adding projects.
“A game-changer”
finbots.ai’s solution, creditX, is a game changer in credit modelling that supports our Bank’s digital transformation journey.
– Ti Eng Hui, CEO, Baiduri Bank
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