Cognitive Credit Risk Assessment and Loan Disbursement

Our client, a leading financial services major, wanted to acquire new corporate loan customers while ensuring stringent risk tolerances. EvoluteIQ became a strategic partner to help the client specialize in corporate loans.

The Results

Improvement

35% Improvement in loan disbursal due to faster TAT and less conservative lending decisions

Customer Experience

67% Improvement in customer experience and returning customer loyalty

43% Improvement in stable cost of capital and risk profile of loans under management

Quote

Forbes perspective

AI and ML can help financial services companies in two primary ways: more effective customer management/retention and more efficient back-office operations.

EIQ Features Used

The Challenge:
Boosting Loan Disbursement Rates Amidst Conversion Sluggishness

The client faced a concerning trend of declining loan disbursement rates, despite a healthy top-of-funnel. Conversions were sluggish, leading to applicant drop-offs. Root cause analysis revealed two pivotal issues: multiple process bottlenecks causing extensive delays and inadequate insights into applicants’ credit risk scores.

Our Solution:
Process Consulting, Enhancing Credit Risk Scoring for Efficiency Through EvoluteIQ’s Automation:

EvoluteIQ Intelligent Business Automation for Faster Loan Disbursals

EvoluteIQ initiated a process consulting engagement to identify critical “digital hooks” that could modernize the client’s risk assessment and loan disbursement processes.

At the core of our solution lies a sophisticated credit risk scoring algorithm. This algorithm was designed and implemented to enhance the accuracy of the scoring mechanism, thereby increasing the conversion rates for loan applications.

One of the pivotal aspects of our solution involved automating manual steps in the loan processing workflow. By configuring automation workflows, we drove significant improvements in accuracy and reduced loan processing times, creating a more efficient and streamlined process.

Are you ready to transform how your business operates?

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