AI powered Business Intelligence visualisation platform for smarter lending decisions
Mumbai, 17 February 2021: Experian – the world’s leading global information services company – has launched Ascend Market Insights, a new Business Intelligence platform that runs advanced analytics on multiple data sets, which helps banks and financial institutions to make smarter lending decisions. In India, Experian operates one of the country’s leading credit bureaus and data analytics and decisioning companies. Ascend Market Insights integrates Experian India’s credit bureau data with fraud consortium aggregate data (Experian Hunter CUG) to gain insightful trends that enable business growth.
Ascend Market Insights is an Artificial Intelligence (AI) powered platform, offering automated and descriptive insights on credit and fraud data, as well as granular data at PIN code level to name a few. It also has the capability to take in alternative data including a financial institution’s data, whilst providing the flexibility to visualise subsegments and geo-analytic trends based on product-based market sizing, geographic expansion strategy, and the ability to conduct consumer (borrower) profile trend analyses over time.
“The COVID-19 pandemic has resulted in significant challenges for financial institutions in terms of portfolio management and greater risks stemming from the potential of soured loans. Banks and financial institutions need to identify customer subsegments to manage risk, which is even more difficult in today’s context. They need help with recalibrating their policy parameters and score cards. Ascend Market Insights provides financial institutions with access to credit and fraud data along with powerful and ready to use analytics. These insights help them to make smarter data-based decisions”, said Ashish Singhal, Managing Director, Experian Credit Information Company of India.
Commenting on the launch of Ascend Market Insights, Steve Griffiths, Managing Director, Decision Analytics, Experian Asia Pacific, said, “At Experian, we have always worked towards delivering products and solutions that help businesses achieve their goals. Our aim with the launch of this platform is to help our clients implement fraud mitigation strategies. A powerful tool like Ascend Market Insights enables banks to make informed and smarter decisions, which are accelerated by combining the power of Experian’s bureau and fraud data.”
With Ascend Market Insights, banks and financial institutions can benchmark their credit portfolio and evaluate how it compares to their peers in the industry, or drill-down to a product segment in which their business operates. This platform can provide a view of the company’s level of penetration across different customer segments, customer acquisition and retention and the scale of business’ delinquency.
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