Solution for Loan Analytics

A marketplace enabler framework wherein consumer is offered the best loan deal by the various loan providers, basis his/her credit score

Our client is a credit information company playing a critical role in India’s financial system. They collect and maintain records of an individual‘s payments pertaining to loans and credit cards. This information is then used to create credit information reports and credit scores, which are provided to lenders in order to help evaluate and approve loan applications. The credit score and credit information report not only help loan providers identify consumers who are likely to be able to pay back their loans, but also enables them to do this more quickly and economically. They empower both loan providers and individuals to see their world more clearly and hence, take better and more informed decisions.

Problem: 

Our client wanted to offer a ‘market place of loans’ wherein the consumer approaches the portal seeking loans while the members who are financial institutions post loan deals to consumers in need of loans. The market place portal would display best loan deals available basis credit score value and other details like location and income of the client. Consumer would be able to select one of the five available loan types and the lead would be passed on to the financial institution. A rank ordering logic would be implemented to display member loan deals to the consumer.

Solution: 
The technical solution was designed keeping in mind the following:
  • Consumer view of the portal
  • Member view of the portal
  • Back end architecture view of the portal
  • Business process view of the portal
  • Client’s view of the portal
  • Operations team view of the portal

The most critical aspect of the portal is the ranking ordering logic based on which the loan offers are worked out and displayed to the consumer.

With this offering, our client is going that extra mile by providing additional relevant information to consumers seeking credit score and in search of good loan deals.

The credit score would help financial institutions in deciding what interest rate breaks and other benefits to be passed to individual consumer. Thus, the score becomes a basic gate pass and an initiator in the loan process for the consumer.

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