How Auto Lenders Can Make Effective Underwriting Decisions

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John M. Giamalvo, the head of Subprime Automotive at Trust Science®, compared the pandemic with a “positive perfect storm” for Buy-Here-Pay-Here (BHPH) dealers in the February issue of the BHPH Dealer. The influx of over 10 million immigrants in the last ten years has widened the horizons of auto-lenders. Owing to the pandemic, the usage […]

How Can AI Access and Harness Your Data

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Technologies like artificial intelligence (AI) and machine learning (ML) have replaced traditional computing, transforming how several industries operate and conduct business. AI uses computers and algorithms to simulate human intelligence, while ML allows machines to learn from data with experience and time gradually. The deployment of AI in credit scoring, allocating credit, and risk has reshaped […]

Can Machine Learning Integration Improve Efficiency?

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According to the Institute of International Finance, the most common use of machine learning (ML) technologies is credit scoring.  An increasing number of financial institutions are using ML technologies to make decisions on granting new credit, monitoring outstanding loans, early-warning systems, and refinancing non-performing exposures. A recent survey shows that 37% of the international institutions used ML models […]

The Power of Artificial Intelligence and Machine Learning in Credit Lending

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Artificial intelligence (AI) is an umbrella term defining how different machines and algorithms simulate human intelligence and functions. Machine learning (ML), on the other hand, is a subset of artificial intelligence in which machines are programmed to process large amounts of data (beyond the human limit) and improve gradually with time and experience. Both AI […]

How to Successfully Leverage AI and Avoid Common Pitfalls

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The proliferation of artificial intelligence (AI) technologies has offered companies, especially FinTech companies, a considerable possibility to develop and improve services. The use of AI can increase profits, improve the quality of customer services, reduce costs, optimize processes and increase the company’s efficiency. Artificial intelligence can improve several areas, including credit scoring, investment/asset management, underwriting, […]