There is nothing more expensive to lenders than mediocre credit models. To build a top tier lending business you need a modern, stable model. You need a partnership that understands your industry, your data and your process. Automated solutions can't do that. We've been building AI models, exclusively for lending, for fifteen years.
Time flies. After three years, Ensemblex just wrapped up a large subprime auto lender’s transition to AI-based underwriting. This client’s effective and smooth transition to AI shows the benefits of proactively investing in expert help. In the first year, we replaced three separate logistic regression scorecards with a single AI model. Over two years in production, the model showed stable performance gains over the previous models and experienced no technical issues in production. Effective monitoring protected the model—we flagged multiple data integrity issues originating with data providers before they compromised the model. The best part? Ensemblex partnered closely with the client’s internal data science team throughout the engagement, so as we depart, we’re turning over the models to a capable team, and the client can continue building on their success. #AIUnderwriting #FintechInnovation #Ensemblex
Truer words have never been spoken.
Operations and Business Control Leader | COO, Digital Transformation Leader
3moHaving been on the user end of mediocre credit loss predictive models, I completely agree.