A significant Transformation is currently underway in the lending market. Banks are competing to provide lending decisions in a single day, with a vastly simplified customer experience as their primary way of growing market share. The key technology allowing this transformation is being able to accurately automate the Credit decision; that is, to use advanced analytics to estimate a customer’s probability of default, affordability, and financial position to make the credit decision quickly.
This post first appeared on Elder Research Data Science & Machine Learning Blog, please read the originial post: here