automated credit-loan platform based on...
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Automated Credit-Loan Platformbased on AI-technology
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.
A fully automated processes
Data Input
Website registration/mobile applicationThrough other affiliates and agentsAgent API
Validation
Compliance checksRule based checks
A fully automated processes
Credit History
Connectivity to third data providersAutomated checks in internal loan databases
Scoring & Rating
Internal third party data rating systemPersonalized, flexible and internal loan data scoring
Decision
Manual/automated loan confirmations and rejectionsAutomatic money transfer
Possibility to rate the scores
End-to-end lending processCorex.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> Product setup (customer loans, payday loans, installment loans, secured loans, syndicated loans)> Pricing control> Marketing and promotion setup> Loan proposal
> Automated/manual deduction> Late, penalty, tax calculator> External/internal bailaff control
> Customer verification> Credit history check> Scoring and rating> Automated loan approval
> Manual, semi-automated, automated payment process> Automated email and SMS/Notifications
Evaluation and approval
Servicing and reporting
Orig
inat
ion
Collection
Lendinglife cycle
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 applicationsProcess a larger number of loan applications with existing resourcesEliminate sources of human error for faster, better-quality evaluation decisions Establish predictable, repeatable, and auditable processes that support complianceReduce delays and costs associated with paper processesAnalyze 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 applicantsor 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 andquickly verify applicant information.
Decision rule flexibility can guide processing for exception applications, performing certain steps of theevaluation process automatically and delegating more complex decisions to experienced underwriters.
No lost or misplaced documents. Paper documents converted to digital images are immediately and securelyaccessible 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 lendersautomatically calculate optimum loan structures and terms.
Decision rules provide predictable, repeatable processes that remove the variations associated with humandecisions 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 toaccept 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 stringentqualification steps to reduce risk.
Identify unnecessary, time-consuming manual steps in loan origination that can be improved through theuse of decision rules.
AI Process NLAutomated 89% of a manual process
A member submit apolicy compliant
The provides makes a decisionon the compliant
The decision and date isrecorded on the policy
AutomationRate
AccuracyRate
Improved accuracy of time stampand other data extracted from
62% to 85%
Automated 89% of the manualprocess for extracting a date
from the policy decision
The results
89%
85%
QCR PRA BPM
Digitalizationpolicy with thecompliant andrecorded date
Rules toextract data
from the policy
Manageprocess
expertions
As online banking has allowed consumers to shop aroundfor preferable rates, industry leaders are attempting tostymie this burgeoning competition by increasing cross-sellopportunities. Making experiences easy, seamless andpersonalized should be a priority in any industry, butconsumers increasingly expect it from financial services firms.
Customer experience in financial services
Onmichannel capabilities being implemented by financial firms in 2017
Customer relationshipmanagement
Mobile banking
Online accountmanagement
Online lending
Interactive ATMs
% of banking executive survey respondents
0% 10% 20% 30% 40% 50% 60%
57%
47%
46%
31%
26%
Trend attributed key:Very Low Low Medium Hight Very Hight
Maturity Amplitude
Velocity Impact
Supervised learning-checking accuracy
Training
Model
Training
Validation
ValidationCompare
resultscalculatesccuracy
scorePredicted
output
Known correctoutput
Prediction
Known correctoutput
Test set
Trainingset60%
40%
Trusted Personal data storaging
DocChain:Permissioned Blockchain
IdentityOwner
SDK
IdentityProvider
SDK
IdentityRequester
SDK
Data Store
1 2
Cold servers
Hash
Identity by Consensus
IdentityOwner
IdentityProvider
Private Key
TrustedKey Holder
TrustedKey Holder
TrustedKey Holder
Part Key Part Key Part Key
Project Specification
Project Specification
Project Specification
Project Specification
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
Top-5 Challenges Faced by Market
Cloud Computing Solution Modular Architecture
Allows to unfold a system anywhere in the world immediately. ndependent from enterprise computing power.
Allows to enrich the system with additional functions, ifneeded, without capital expenses.
White Label AI
Design was developed in a way that allows our specialiststo customize system interface according to yourcorporate identity
We developed unique algorithms that allow to normalizeincoming data, process and analyze it with our systems.They proceed fast and adjust to new data. Thereby youget the most honest evaluation of each deal, consideringprevious experience of each counterparty collaboration
System Tasks
Predictive algorithms, utilized by
employees, help to reduce the
influence of ‘human factors’ on
decision making and risk assessment
Process automation, algorithmic
assistance in business processes.
Actual decision is taken by AI
algorithms. Your employees
just have to validate and correct it
(if needed).
It takes 60% less time to
process a transaction
Analytical tools are
flexibly tuned
Simplifies work of a transaction
support manager in a sales
funnel from the moment of
qualifying till payment receipt.
System Effectiveness in Q4 of 2018In the 4th quarter of 2018 by using our algorithms our partners achieved significant results:
By using special mechanisms for
normalization and risk
assessment total revenue
increased to a record
$105 million USD from $80 million USD
Due to preliminary forecast on
each deal our partners could
reduce by 28% losses from
unscrupulous counterparties.
Proved economy is
$15 million USD in total
System Effectiveness in Q4 of 2018
Average accuracy of our
predictions is 78 - 86%.
Comparing with human
predictions, accuracy increases
significantly: is a change of
45-55%
We predict for 2019 profit
increase for our partners to the
tune of $300 million USD
Technology
To evaluate each operation, system uses more than 100 specially trained neural networks. It allows to considerall factors, even ‘insignificant’
Improving risks of individual counterparties. Algorithm uses technology called ‘computer vision’ to checkcounterparty’s psychological type and to reveal person’s unscrupulous tendencies
Precise normalization of incoming data, preliminary assessment and data supplement from additional sources(open databases, corporate and financial reports, declarations, social networks). Machine learning technologiesresearch a million times faster than humans
Do we have competitors? - Yes, we do.
What makes us different? - We are professionals in platform automation. We make tech solutions for our partners that not only adapt to their inner business processes easily, but also from the very first moment bring concrete results with each counterparty.
Advantages
Cloud solution, fast to unfold, independent
from partner’s computing powerAccelerates processes, eliminates ‘human error’
Considers even indirect features that
influence on business results of each operation
All components of the system can infiltrate
independently, but at the same time are
compatible with a third-party software
Report can be preset or put together individually
We can do either way, so it’s up to you!
Flexible customization. Exactly what you
need for your inner business processes
Innovative methods of operational evaluation
Outcome since first minutes
Retail &WholesaleCorrespondentAutomated ProcessingExpert UnderwrittingClosing / Funding
Multi-Channel LOS Portals
Relationship ManagementContact, AppointmentLeads, Loan ScenariosMetrics, Pre-Approvals1003, Loan Status
Consumer Direct
Quick Qualifer QuotePersonalized Rate QouteOnline Loan ApplicationUpload Docs, eSignAuto Income & Assets
Mobile Applications
Quote & Apply OnlineConsumer Mobile PortalLoan Officer MobileWholesale MobileAE’s, Brokers, Realtors
Reusable Lending Services
form the basis of a microservices architecture promotingrobust consistent results across all applications
Fully Managed Modern Platform
highly scalable, cloud deployed, thin-serverbusiness and data layers
ProductEligibility
LoanConditions
PricingEngine
DecisionService
MorgageCalcs
FeesEngine
QuoteService
ChecklistService
DataCalculations
ConfigurationLender specific policies andcompliance regulations
SecurityPlatform end-to-end security,monitoring and performanceencrypted by key Blockchain
AutomationProcess automation driven by
rules engine inteligence, ML, NLP
Amazon API or Azure APIBusiness and data domain
thin-server based web services
Data model Synchronous Replication ReportingRead-Replica based on BlockchainRobust flexible consumer
centric design
How it works
OUR SYSTEM
Feed
FTPAPI
Risk scoring
Resultprediction
Individualityscoring
Deal optimizationrecomendations
Reportsscheduler
Datavisualstudio
API API
API Lead data
BI8
Lead data
Deal data
Deal/Leadmanagement
Predictions
Risk management
API’sFeeds
Ext. DB’s
Fin reports
Socialnetworks
Companyclients
API’s
MarketingContacting
tools
SMS
Messengers
Emails
Callcenter
Pushnotifications
Flexiblereportingengine
API
Some of our projects
