Using AI/ML to identify opportunities & challenges with credit risk scoring - Fintech News

Financial Institutions rely on credit risk scores to make various lending decisions for unsecured credit, such as loan approval, interest charges, repayment tenure, among others. However, only 25% of the Indian population has a credit history, hence access to formal lending. While this may be of help for the larger banks and financial institutions, small and medium-sized companies that provide loans to student and early-stage professionals might find it challenging. Mounika Mydukur, head of analytics at mPokket took the audience through some of the challenges they face with credit scoring and how they leverage deep artificial intelligence and machine learning technologies to overcome them and identify new opportunities, at DLDC 2020. In her current role, she collaborates with business stakeholders to identify business needs and transform them into analytical models for behavioural predictions and predict the return on investment and collections.