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Blackbook.ai

Intelligent Insights for Loan Applications​

The lending process is an important part of the Banking sector, and is supported and enhanced by AI.

Industry

Banking

Technology stack

Industry

Banking

Technology stack

Industry

Banking

Technology stack

The challenge

The Loan Assessment Team at a leading bank receives almost 500 loan applications per week. Several key activities must be performed when processing these applications to practice responsible lending; a detailed and time consuming process. The company wanted to use AI to support and enhance their lending process.

The solution

We built an AI solution that accurately categorises transactions from Account Statements, provides a comparison visualisation of declared vs actual expenses, performs validation checks to ensure adherence to company policy and provides intelligent insights based on applicant data.

Once a new application is received from the customer, the lender manually validates supplied statements to assess loan details. Upon validation, the loan application is checked for accuracy by the retail lending support team. If confirmed, the loan is approved and issued.

The outcomes

The Intelligent Insights Dashboard allowed the company to achieve greater accuracy and efficiency within their lending process, further supporting their ability to engage in responsible lending.

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