Speeding up consumer loans requests with a credit-scoring AI assistant
Agos Ducato SpA operates in the sector of consumer finance and lending services; offering loans for the purchase of goods and services, personal loans, credit cards and leasing. Hutoma worked with Agos to build an artificial neural network that could speed up the process of credit scoring when validating loan requests.
INDUSTRY : Finance
LOCATION : Italy
As one of Italy’s fastest-growing loans provider services, Agos was receiving an increasing number of requests for personal loans from consumers. Yet with its success for this aspect of the business, the company began facing an influx of customer service challenges. Checking a person’s credit score and calculating the amount they were eligible to borrow, was proving to be a highly-administrative, clunky and time-consuming procedure.
Agos wanted to explore ways in which this aspect of the business could be automated so that consumers could receive quicker customer service without lessening the quality, care or level of accuracy offered through the current process.
Hutoma built a digital chatbot that would allow Agos to collect loan requests conversationally via it’s messaging app. So that the consumer could understand quickly how likely it was that their loan request would be accepted, the chatbot was combined with a real-time, pre-scoring neural network that could detect potential repayment issues (based on the consumer’s credit history).
Hutoma was able to train the chatbot with over ten years of data through its large data ingestion functionality. If a consumer was flagged as having potential repayment challenges, the request was flagged to a human agent so that they could carry out the further evaluation.
With the help of Hutoma’s AI, Agos Ducato’s customer service department was able to focus their attention on the most crucial cases while the remainder of requests were automated. Due to the credit scoring deep neural network, Agos felt confident in the loans that were being processed through the AI and were able to handle business growth with much greater ease from thereon.
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