RISQ offers AI-powered credit assessment solutions for commercial lending covering SMEs, corporates and FIs. It covers the entire end-to-end process from initial data collection/on-boarding, scoring until automatic contract generation (loan offering or loan contract, etc.) as well as covers the ongoing servicing of the loan (renewals, collateral revaluation, etc.) It has an embedded AI-engine which can forecast at the on-boarding stage what is the chance that this loan will be approved thus telling the bank if it is worth spending time on it or not. In emerging markets, the rejection rates for SME loans is between 50-80%. It also uses AI to rank the credit application in the decision process thus 'high probability' applications will get approved faster and thus the chance for the bank to get this revenue is higher (in emerging markets it takes 8-12 weeks for a SME loan approval). RISQ has 3 live customers including Emirates NBD, one of the largest banks in the Middle East. RISQ part...
RISQ offers AI-powered credit assessment solutions for commercial lending covering SMEs, corporates and FIs. It covers the entire end-to-end process from initial data collection/on-boarding, scoring until automatic contract generation (loan offering or loan contract, etc.) as well as covers the ongoing servicing of the loan (renewals, collateral revaluation, etc.) It has an embedded AI-engine which can forecast at the on-boarding stage what is the chance that this loan will be approved thus telling the bank if it is worth spending time on it or not. In emerging markets, the rejection rates for SME loans is between 50-80%. It also uses AI to rank the credit application in the decision process thus 'high probability' applications will get approved faster and thus the chance for the bank to get this revenue is higher (in emerging markets it takes 8-12 weeks for a SME loan approval). RISQ has 3 live customers including Emirates NBD, one of the largest banks in the Middle East. RISQ partners with industry leaders such as CRIF, a global leader in credit analytics and have their credit engine embedded and Temenos, the world’s number one core banking systems. For Temenos T24 customers (around 2,800 globally) RISQ offer a plug and play solution which is a huge competitive advantage. The founders have decades of experience in enterprise software as well as selling to banks. RISQ mainly focuses on large to medium local banks in emerging markets as these banks mainly manage the entire credit decision process manually and RISQ can fully digitize the entire process. Most of the banks have completed the digital journey on the retail side by now and are now focusing on the commercial side.
More information