Context

Lenders struggle to keep up with application volumes and hold operating costs down, as a result, they’re investing in loan origination solutions to make the process quick and easy for borrowers, cut operating costs, and help underwriters.

Technological innovation, new credit scores employing AI, machine learning and natural language processing models are the innovative instruments lenders are relying on for portfolio management, especially in difficult times when credit card delinquencies are rising and inflation increases, pushing up the credit card debts and the unsecured personal loan borrowing.

Finally, tighter credit and financial instability conditions lead to loan origination decrease and default rates rising, thus requiring policy responses on several fronts.

Covered industries

Banking

Insurance

Telco & Media

Energy & Utilities

Manufacturing

Solution details

Loan origination

CRIF solutions allow to automate processes and decisions related to the entire loan experience. Relying on a wide dataset made up of both proprietary and public data, CRIF adopts technologies that enable data collection for powerful processes. The end-to-end credit management platform allows to manage the whole origination phase of the credit lifecycle, through process design, application management and data orchestration. The Decision Engine enables data-driven decision, based on a process standardization across the whole organization. Finally, an end-to-end workflow automation allows to simplify the origination process.

Portfolio management

Firstly, through updated, enriched and verified data by CRIF, the platform allows to calculate on the customer base any kind of scoring / rating models, based on which customers can design autonomously tailored portfolio management strategies, such as pre-approved loans.
Moreover, the platform allows to set-up a process for early warnings, based on traditional (credit bureau, business information and current account) and new (categorized open banking) data.
Customer portfolio is not seen just on the credit side, because the platform allows to execute all the business development actions, such as up-selling, cross-selling and pre-approved loans, engaging customers in a real time, one-to-one, omnichannel way.
Finally, the solution allows to monitor the models’ stability and performance, as well as the business development strategies’ effectiveness.

Collection

CRIF allows to differentiate the collection strategy addressing each segment towards the optimal action path, based on enriched and verified data and segmentation and scoring models. The scoring and the strategy can be designed (and modified over time) by business autonomously, without IT intervention.
A workflow supports internal and external users in performing their collection activities, while self-care customers may exploit the digital self-collection portal for defining the recovery plan.
All the activities are supported by tools to continuously improve the performance by monitoring and adapting strategies.