Banks are always looking for effective methods of attracting creditworthy customers. As of now, banks typically supply multiple credit bureaus with a plethora of customer data and then have to re-collate those responses manually or build multiple expensive integrations in order to respond with a credit decision.
Built with Pegasystem’s Customer Decision Hub, Virtusa’s Credit Decisioning solution helps banks reduce their reliance on external agencies for credit decisioning information by empowering them to use their own data to create internally developed risk score cards and dynamic lending models to predict delinquency, bankruptcy, and receivable collections. Our solution streamlines the decisioning process with AI capabilities that augment credit decisioning teams across the entire credit decisioning process. At the same time, the solution is microservices based, meaning that each credit lending process is built as a standalone component to allow your organization to adopt certain functional processes or achieve an end-to-end result.
Use cases covered:
- Delegated lending authority calculator
- Lendable value calculator
- Probability of default calculator
- Individual score calculator
- Net income calculator
- Serviceability calculator
- Reduced credit analyst FTE resources
- Reduced human error and consistent process, leading to no early dropouts
- Re-usable architecture helps extend solution to country or region-specific lending models
- Can use existing or generic lending models to avoid cost in recreating new models
- Modular solution allows rapid time to market of functionality
- All transactions are logged, audited, and loaded to data lake