Many lenders find it challenging to assess a potential client’s risk profile when there is inadequate financial and demographic data. Innovative technology and alternative data make it possible to access new client groups, improve the customer experience, without increasing risks.

Better assessment of credit applications

With alternative data and innovative (machine learning) techniques you no longer need to depend solely on credit history and demographics when determining risk. It helps lenders like you assess credit applications more accurately and it even makes it possible to assess credit risks where limited or no financial track record is available. This will allow you to increase your client base without increasing risks. That’s why KPMG works exclusively with AdviceRobo: its software helps you identify clients’ key risk factors quickly and easily.

A complete picture of your risks, quickly

Get an accurate indication of an applicant’s credit risk thanks to AdviceRobo. AdviceRobo’s software consists of a list of smart questions which allows you to gauge an applicant’s financial standing within minutes. Working with Tilburg University and the University of Cambridge, AdviceRobo developed a system which uses various psychographic variables to predict how likely credit applicants will honour their debt obligations. The tool analyses credit risk based on the borrowers’ motivation, personality traits, values, attitudes, interests, and lifestyle.
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Quickly obtain deep insights into credit risks of potential clients with AdviceRobo

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Achieve 15 % higher acceptance rates and 20% less default

Missed opportunities are to be avoided if they come at an acceptable risk level. On average the AdviceRobo solution leads to a 15% increase in acceptance and 20% less default. AdviceRobo ensures you exclude fewer applicants by looking at factors besides credit history during the assessment process. False negatives are no longer an issue.

Predict and decrease credit risks

AdviceRobo’s analysis is extremely thorough, assessing a rich client profile that is predictive and it can seamlessly be integrated with your application process. This enables you to offer the right clients timely advice and attention, thereby avoiding dropouts in the application process, improving client engagement and limiting credit risks.

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Optimise processes within 2 weeks

AdviceRobo’s software uses APIs which are easy to implement and integrate. It has a simple and flexible configuration that can easily be aligned with your branding, allowing your clients to experience the immediate benefits of efficient and seamless processes.

AdviceRobo’s assessments utilize a personal questionnaire to establish a psychographic profile based on the following paradigm:

Personality

AdviceRobo evaluates applicants using 7 drivers which combine to offer a reliable final credit rating, thus eliminating the risk of false negatives as well as false positives. These drivers are based on the borrowers’ financial skills, reasoning, confidence, attitude to debt, and personality traits such as the delay for gratification, materialism, and tendency to conform to social norms.

Personal data

AdviceRobo determines credit ratings according to personality, not personal data. Privacy is a key factor and AdviceRobo complies with all privacy legislation.

Payment history and other data sources

The inclusion of payment or transaction history provides additional insight into the applicant’s financial behavior. By including additional data from other sources, it enriches your client’s profile and provides further insight into the psychographic drivers that influence the applicant thus making AdviceRobo’s analysis even better.

The Personal Questionnaire

A shortlist of smart questions that take less than five minutes to complete, gives immediate insights into your client’s financial profile. It can seamlessly be integrated into your customer’s loan or credit application process with your company's branding and with little integration effort.

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Do you have any questions? Let us know we gladly get in touch with you!

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