How AI/ML-based credit scoring accelerated a lending application to become an industry leader
The Challenge: Mongolia’s Credit Scoring Landscape In Mongolia’s financial sector, traditional credit scoring methods were creating significant barriers to financial inclusion. The existing system faced two major challenges: Manual Processing Bottleneck The credit scoring process was entirely manual, requiring extensive human intervention for each loan application. This approach led to: High operational costs for financial […]
The use of Lending Systems (LOS/LMS) in Financial Institutions
The last couple of years has been disruptive, to say the least, to almost every part of our lives due to the COVID-19 pandemic. With social distancing measures and lockdowns becoming the new normal, the traditional way of doing business, particularly in financing and lending – in-person branch visits with manual paper-based processes – just […]
What is a credit score?
Here’s what you need to know about what a credit score is and why maintaining a good credit score is important. What is a credit score? Credit scoring is the term used to describe formal statistical methods used for classifying applicants for their creditworthiness – determines the probability of default or delinquency of loan applicants. […]
Why digital identity verification?
Identity verification is essential everywhere in the digital world, and it’s especially vital in online financial services. It is required to know the identities of the parties trying to access digital financial services since there are many risks associated with money in the digital world. Moreover, due to COVID-19 and the increased adoption of digital […]
Zero Code Lending Platform (Webinar, Sep/28)
Join AND Solutions to discover how Zero Code solutions reduce tech team dependency and allow emerging markets to adapt faster to the ever-evolving digital world. The event will include a panel discussion on how the lending industry is utilizing Zero Code solutions, featuring speakers from Japan, the Philippines, Mongolia & our special guest from the Leeds […]
Choosing the right SaaS provider
Once you decided to outsource and work with a SaaS provider, choosing the right partner that fits your business is the crucial part. Here are 8 tips you should consider in choosing your SaaS provider: Understands you: It is important that the SaaS provider truly understands and matches your business strategy, better yet if the provider […]