The banking and financial services industry needs to drive responsible revenue growth, extract costs to improve operating margins, and comply with complex and evolving regulatory requirements.
Resources are stretched beyond capacity. Yield curves have suppressed returns on lending, and investments in new capabilities are seemingly unattainable.
Today’s volatile markets demand that financial institutions have a better understanding of their risk-return while adhering to complex rules and regulations and gaining insight into consumer behavior.
Fraud & Identification
The high volume of applications in financial companies such as credit cards and personal loans has invoked challenges for financial institutions to perform quality profile verification in time. Our solutions enable you to identify consumers most likely to fraud or to turn bad debt. These consumers can be prioritized in the application and profiling of check queues. By differentiating the safest of consumer segments from riskier ones, fraud prevention can be maximized by adopting various verification strategies resulting in huge cost-savings.
Risk based consumer Loan pricing strategies
Consumer profile and demographics data can be used to quantify the risk involved with each consumer. This can be used to segment the consumers on the basis of risk involved. Different pricing strategies can be formulated to different segments to minimize the risk involved. Our risk based pricing & finance solutions are proved very useful in cases of sub-prime portfolio.
Early Warning Delinquency
GeakMinds develops a very effective behavioral model to calculate the propensity of Consumers to default in the next billing cycle, using the consumer demographics and their payment history.
Fraud Detection Solutions
Using the Consumer data and bureau data, GeakMinds predicts:
- First Payment Defaults
- Identify Potential Consumer who will turn bankrupt or bad debt
- Identification of Consumers who are more likely to turn fraud
- Identification of Consumers who are more likely to do prepayment