Nordigen
Approve all creditworthy customers
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Scoring

Use the 150+ categories of income and expense types to build the ideal credit report to capture all important and risk-critical behaviours.

 
 

Use-case: Scoring

Boost your Credit Scoring with Nordigen’s predictive analytics

Nordigen’s Credit Scoring product suite is used by the most innovative Data Science teams in global banks, lenders, brands and fintechs.

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Trusted by innovators

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Solution
We have created a machine-learning based account analytics engine for automated income verification and other risk-critical factor check, such as active liabilities, spending behaviour. The insights can then be used to improve the speed and accuracy of existing scoring models for approving more creditworthy customers.

Problem
Global banks, lenders, brands and fintechs need fast and accurate access to open banking transaction data, for use in credit scoring decisions.

 

Consumer lender Creditstar achieves 19% approval rate increase.

We were impressed with the results delivered by new Nordigen models during the backtesting procedure. Nordigen’s proficiency in data science applications, willingness to constantly improve their solutions, great attention to their clients and efforts they put to collaborate and fit their solutions to clients’ needs make Nordigen stand out of the rest of data analytics providers.

I believe these are the main factors that allowed us to reach these impressive results. I’m really looking forward to evaluate new models’ performance on the live data
— Mykola Herasymovych, Creditstar's Principal Data Scientist
 
 

Increase approval rates

Credit scoring models are built using features that are constructed only from the transaction data, and can be used for increasing approval rates. Credit scores built from transaction data are proven to be stable over time.

Value: Increase approval rates, decrease risk.
Related products: Credit Scoring

 
 
 

Decrease default rates

Categorised transaction data, used in scoring or pre-scoring of potential loan applicants, can predict a borrowers likelihood to default on a loan. Scoring features built with transaction data have proven to be more stable default indicators than credit bureau data.

Value: Decrease default rates.
Related products: Credit Scoring

 
 
 

Monitor loan repayments

Credit bureaus don't always provide the full picture of a person's liabilities, either due to restrictions in legislation or delays in lender reports. Account data allows you to identify all incoming and outgoing loan payments, including loans not registered at credit bureaus.

Value: Better insights on actual liabilities, and can provide the missing data required to score or pre-score customers.
Related product: Credit Scoring / Loans

 
 
 

Pre-approve loans

Account data insights provide context about customers previously defined as “high risk”. Nordigen’s Lending product suite helps identify reasons for previously overdue loan payments or transfers on behalf of family members, making it easier to pre-approve loans.

Value: Reject fewer loan applicants due to misleading information from credit bureaus.
Related products: Credit Scoring / Income / Loans

 
 

How can we help you grow?

Let us know and we’ll be in touch!