30 March 2022
Tietoevry has been working with several banks, implementing cutting-edge technology that brings data science to life through AI-as-a-Service. Machine learning models have been developed and packaged specifically for the credit value chain to support smart business decision-making using advanced analytics applications. As a result, banks can benefit from customer-oriented solutions that reduce risk and increase customer retention and profitability with a faster ROI.
Modular, scalable, cloud-based AI that delivers business growth
Thanks to the success of Profit scoring AI (Artificial Intelligence), the solution is being made available to the financial sector throughout the Nordic region. Now, many more banks and credit institutes will have the opportunity to introduce proven AI solutions to their existing credit operations that accelerate business growth and meet the regulatory requirements of the banking sector. The modular and scalable, cloud-based applications are easy to onboard and come with a pre-launch evaluation period to minimize a bank’s organizational risk. Additionally, by utilizing these products and analyses, the loan ROIs can be maximized by as much as 30%.
AI scoring maximizes ROI
“Our Profit Scoring AI solutions offer banks incredible opportunities to predict future events and as a result, reduce risk and increase profitability,” says Sofie Dufwenberg, Head of Credit Science, Tietoevry Credit Solutions.
“By understanding customers’ previous activities, we can predict future actions and design services and pricing around it. Our Application Scoring services provide a customised recommended interest rate for each loan application. Furthermore, we can spot potential cases of fraud. We are also looking into the customer lifetime value by applying Portfolio Scoring. Through this, we will be able to follow up on churn prediction and optimise profitability to the existing back book.
AI for lending, asset finance and debt collection
The AI services are live today and available within the Lending, Asset finance, as well as Debt Collection areas. Tietoevry manages the technical solution, including maintenance and updates, enabling the bank to focus on its core business.
“I believe we’ll see more banks implementing AI solutions to improve profit scorings results. Building solutions from scratch requires a considerable investment and can take years to get off the ground. Ours are up running and ready to deliver benefits to any bank utilizing them from day one,” concludes Dufwenberg.
Read more
AI collaborations - MedMera case
Tietoevry Credit solutions and services
For more information, please contact:
Sofie Dufwenberg, Head of Credit Science - Tietoevry, Credit Solutions and services, sofie.dufwenberg@tietoevry.com
Thomas Lindqvist, Head of Product Engineering - Tietoevry, Credit Solutions and services, thomas.lindqvist@tietoevry.com
About Tietoevry
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24,000 experts globally specialize in cloud, data, and software, serving thousands of enterprises and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com