finbots.ai

finbots.ai offers a sophisticated, AI-driven credit risk platform named creditX, designed to revolutionize the lending industry. It empowers financial institutions, from large banks to fintech startups, to make faster, more accurate, and profitable lending decisions. The platform is built by a team of seasoned finance practitioners and AI experts, ensuring a deep understanding of business challenges and technological solutions. creditX addresses the entire credit risk lifecycle, from data ingestion to model deployment and monitoring, all within a single, user-friendly, no-code environment.

The platform's core mission is to democratize access to advanced AI for credit risk modeling, making it accessible, affordable, and easy to implement. By automating the complex and time-consuming tasks associated with building scorecards, finbots.ai allows lenders to move from raw data to live, high-performance models in a matter of hours or days, a process that traditionally takes months. This speed and efficiency translate directly into a competitive advantage, enabling businesses to respond quickly to market changes and scale their operations effectively.

How to use finbots.ai

Using finbots.ai's creditX platform is a streamlined, multi-step process designed for simplicity and power, requiring no coding expertise:

1. Connect Your Data: Start by connecting your data sources to the platform. creditX can ingest various data types, including internal (e.g., customer transaction history), external (e.g., credit bureau data), and alternative data, from multiple environments.
2. Automated Data Treatment: The platform automatically handles data preparation. This includes data validation, transformation, standardization, missing value imputation, and advanced bias reduction techniques to ensure data quality and fairness.
3. Feature Engineering & Selection: creditX's AI automatically derives over 100 new variables and identifies non-linear patterns. It uses ML-boosted and correlation-based selection to choose the most predictive features for your model.
4. Build Your Model: Using the 'Quantum Model Builder', you can generate new credit scorecards with a few clicks. The 'Parameter Control Panel' offers over 20 parameters to fine-tune models. You can also use the 'AI Toggle' to choose between traditional logistic regression models, advanced ensemble machine learning models, or a blend of both.
5. Validate and Explain: The platform cross-validates all models and provides advanced explainability for both the model's overall logic and individual decisions, ensuring transparency and regulatory compliance.
6. Deploy and Monitor: With a single click, deploy your custom scorecards via API into your existing workflows. The platform provides real-time decisioning and continuous monitoring of model performance with detailed analysis and reports.

Core Features of finbots.ai

• Rapid Scorecard Development: Build and deploy Application, Behaviour, and Collection (ABC) scorecards in hours, not months.
• No-Code Interface: An intuitive, simple UI that empowers credit risk modelers and data scientists without requiring any programming skills.
• Quantum Model Builder: A high-power engine that develops scorecards for both consumer and SME loans across various products and segments.
• AI Toggle: Flexibility to choose between traditional statistical models (like logistic regression) and advanced machine learning models, or a hybrid approach.
• 360 Data Link & Treatment: Seamlessly connect to any data source and utilize intelligent data treatment techniques, including bias reduction.
• One-Click Deployment: Instantly deploy models into production environments through robust, plug-and-play APIs.
• Advanced Explainability (XAI): Provides transparent and easy-to-understand explanations for model predictions, meeting regulatory requirements.
• Regulatory Compliance: The solution has completed MAS Veritas and AI Verify, and is ISO & SOC2 certified, ensuring it meets high standards for governance, security, and data privacy.

Use Cases for finbots.ai

finbots.ai is versatile and has been successfully implemented across various lending sectors:

• SME Lending: Helps lenders scale their operations significantly, like an e-commerce startup that grew from 1,000 to over 40,000 loans in six months by automating its credit risk management.
• Retail & Personal Loans: Enables digital banks and fintech lenders to drive profitability by substantially reducing credit loss rates (by up to 50%) and improving model accuracy.
• Financial Inclusion: Assists lenders in overcoming biases and serving thin-file or underbanked populations, such as a fintech that addressed high rejection rates for female borrowers.
• Agri-Lending: Provides specialized credit scoring for the agricultural sector, helping an agri-lender generate a 31X ROI.
• Commercial Banking: Transforms traditional credit risk management for commercial banks, enhancing operational efficiency and agility with AI-powered modeling.

Advantages of finbots.ai

The platform offers significant, quantifiable benefits to lending businesses:

• Increased Profitability: Achieve over a 20% increase in loan approvals while simultaneously reducing loss rates by more than 15%.
• Extreme Efficiency: Reduce operating costs by over 50% and slash model development time from 9-12 months to just one day.
• Instant Decisioning: Make credit decisions in real-time, with a turnaround time of less than 0.03 seconds.
• Highest Accuracy: Leverage powerful, proprietary AI/ML algorithms to achieve market-leading accuracy in credit risk prediction.
• Fair & Transparent AI: Built with explainability at its core, ensuring compliance with global regulations and promoting ethical lending practices.
• Scalability: The platform supports unlimited scorecard development for a single flat fee, allowing businesses to scale without incurring prohibitive costs.

Pricing and Plans

finbots.ai offers transparent, tiered pricing plans designed to suit different business needs, with all plans billed annually.

• Essential Plan: US$ 2,000 per month. Includes training on datasets up to 50,000 records and 100 variables, 50 model calibrations, and 20 user accounts.
• Plus Plan: US$ 2,500 per month. Includes training on datasets up to 100,000 records and 200 variables, 100 model calibrations, and 50 user accounts.
• Enterprise Plan: US$ 4,000 per month. Includes training on datasets up to 200,000 records and 400 variables, 100 model calibrations, and 50 user accounts.

All plans include unlimited model developments and decisions. Custom quotes are available for larger dataset requirements. Optional services like private cloud/on-prem deployment, consulting, and data preparation are also offered.