Odyssey Consulting Group and MoneyCare project has been chosen as the best in the category "Implementation in financial or service company"
Odyssey Consulting Group and MoneyCare credit broker won the first place in the category "Implementation in financial or service companies" of the "Financial sphere" award. MoneyCare uses machine learning to estimate the likelihood of a positive response from a bank to a loan request. The project was noticed and nominated by the award organizers. "Financial Sphere" is an annual award of innovations and achievements of the financial industry, established by the "Bankovskoye Obozreniye" magazine in 2012. The Expert Council of the award marks the brightest and most innovative approaches in the financial industry: banking products, financial solutions and implementations. This year the award experts chose winners in 12 nominations. The council of experts includes several dozens of leading professionals of financial industry. The winners are chosen by closed voting and assessment of the economic effect of the solution, product or implementation. Money
Care uses machine learning to predict banks' responses to consumer loans. As a result of the implementation, the loan broker has improved the accuracy of bank response predictions and reduced the number of questionnaires in loan applications. With the help of the prototype created, MoneyCare selects 65 applications with >85% probability of approval out of 100 incoming loan applications. Retailers were also able to appreciate the project's benefits - stores reduced the percentage of customers who previously could refuse to buy due to the banks' lengthy responses on consumer loans.
