diwo, a Decision Intelligence Platform with offices based in Northville, Michigan, recently shared the results of its Credit Risk Management case study featuring a Fortune 100 financial institution, streamlining its risk assessment process from weeks to minutes and shifting credit from high-risk to safer segments.
Demo Video: https://vimeo.com/339329008
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For financial institutions to be competitive, a top priority is to correctly assess risk for the credit they are providing, in order to avoid costly delinquencies and prevent portfolio deterioration. One major credit card company found that with their existing tools, it was taking more than 3 weeks to generate the insights identifying recent trends and their underlying causes in order to make optimal operational decisions. This gap between insight and action resulted in tens of millions of dollars lost to missed opportunities: delinquencies that could’ve been avoided, and credit that was extended too late.
diwo streamlined this process by acting as an intelligent advisor for decision makers. Its continuous analytics worked in the background to sense trends in the data and proactively identify high-risk segments. diwo’s Decision Intelligence determined the appropriate new accounts based on the segment risk, balance, and loss rate, then recommended whether to approve or reject, while showing the potential impact of each option. For existing accounts, diwo identified portfolio deterioration and flagged segments likely to be delinquent in the future, enabling risk managers to quickly and easily understand each segment’s risk and prevent delinquencies.
Before diwo, it took several weeks to secure and understand historical trends, risk segments and AR impact assessments. With diwo synthesizing relevant data and insights, managers could access this information in minutes in natural language and intuitive visuals.
As a result of diwo’s analysis and insights for their specific context, managers were alerted to the top-priority risk situations and received optimized strategies to address them in time. diwo’s decision levers allowed risk managers to explore different scenarios and understand the potential impacts of each decision.
In addition to the immediate risk reduction in high-priority situations, managers could also more quickly and accurately assess risk to prevent future delinquencies and optimize approval rates. By implementing diwo’s recommendations to shift credit to safer segments, they saw increased profitability with a balance of maximized revenue and minimal risk.
Even with the latest in self-service BI, advanced analytics and AI development, business users still face the challenge of applying these new, even more complex insights to their specific scenarios. diwo’s patented Decision Intelligence framework rises to the challenge, working continuously to sense a full range of business situations before they occur, explain their potential impacts, and recommend interactive strategies to address them, all while guiding implementation.
Company Name: LovenSystems creator of diwo
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Phone: (248) 919 1824
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