Aclaró, a top provider and creator of AI and block-chain technologies, recently announced the start of the latest Fintech application along with the opening of their new office in San Francisco, California.
The Aclaró Loan Repayment Risk Artificial Intelligence (AI) System was developed to predict the probability of payment default of a subprime loan and was officially released on December 10, 2018. The increase in demand for artificial intelligence/actionable solutions is transforming many facets of the day-to-day business and consumer activities and processes. Aclaró is at the forefront of helping the lending industry shift gears in order to adapt to these trends.
"Aclaró has provided us a lucid and a deeper understanding of the risks associated with our loan portfolio. The Aclaró Loan Repayment Risk System allows us to look at repayment risk on a daily basis. We now have the accuracy needed to make decisions based on timely facts and identify risks faster. Looking at risks such as loans that have a 90% of default with a 90%+ confidence level on a daily basis is a game changer for us and the industry!" said Ben Stefanovski, President of Tracir Financial Services.
Today's top companies are remaining profitable by finding new and innovative methods of optimizing their most valuable asset: Data. Aclaró Risk Management uses machine learning algorithms to analyze a lender's loan portfolio. The risk management system optimizes Artificial Intelligence and Big Data in order to calculate a risk score for each borrower in the portfolio. Key components include a full Web based Business Intelligence Front End solution and subsecond decisioning of an active loan. It's based on a combination of 100+ individual variables associated with borrower, loan terms, insurance coverage, employment, and vehicle data, but Aclaró never utilizes information such as name, income, social security numbers or credit scores from a Credit Bureau in any of its processes.
Aclaró allows businesses to maximize their goldmine of customer data to make smarter decisions. It specifically helps lenders determine which borrowers are at risk of default.
"With the launch of this new risk management solution, Aclaró is disrupting the status quo of the market by providing lenders the high-level technological tools they need to compete in today's modern marketplace," said Farshad Fatouhi PhD, CTO of Aclaró, Inc.
Carlos Galarce, CEO of Aclaró added: "We're excited about adding this product to our 'Know Your Customer' Relationship Building Solutions Portfolio, and the opening of our third office in the San Francisco Bay area to keep up with the growing demand in the Fintech industry."
Edited by M. Hunt
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