Banks are facing increased competition. In the past, banks were the only providers of loans to individuals and to small businesses. Today, however, disruptive lenders such as mobile money providers provide loans through mobile phones and compete directly with banks. This presents both a threat and an opportunity for banks. In order to remain competitive, traditional lenders must be able to offer customers instant, automated loans through digital channels such as mobile phones.
Paretix provides banks with a complete, customized solution for digital lending, including a mobile-first automated lending platform, customized big-data predictive analytics models to facilitate automated lending and daily credit portfolio performance and risk management dashboards.
DIGITAL LENDING: INSTANT, AUTOMATED, ACCURATE
Paretix provides a complete solution for real-time, digital lending. The Paretix system features real-time decision analytics that are tailored to the unique characteristics of your customers. Your customers can apply for a loan through any digital channel, including standard feature phones, smartphones or tablets as well as through the internet.
Customers receive an immediate, real-time loan decision according to your business rules and customized models, as well as a specific credit offer, detailing the amount approved, the rate, the monthly repayment amount, etc. Customers who accept the offer can have the loan processed immediately.
DEFINE AND EXECUTE YOUR CREDIT STRATEGY
The Paretix system empowers you to define, execute and monitor a credit strategy that supports your business goals. You can decide to be aggressive with one loan product, and conservative with another, and can alter those decisions at any time.
Your credit strategy defines your credit approval policy (e.g. which applicants should be approved) as well as the amount that you are willing to lend to each customer and for each product type, while balancing between the need to grow with the credit risk of each loan.
PRICE COMPETITIVELY AND DYNAMICALLY
The Paretix system allows your financial institution to apply a dynamic pricing policy: each customer is scored using your customized models. When they apply for a loan, that loan is automatically priced according to its unique risk profile while taking into account your competitors' pricing strategies. Pricing policies are updated in accordance with changing market conditions.
MONITOR YOUR DIGITAL PORTFOLIO PERFORMANCE
To help you integrate digital lending, the Paretix solution includes tools to monitor the growth and credit quality of your digital lending portfolio, segmented into relevant dimensions like region, product type, etc.
In addition to these tools, our team will also guide you on insights into your online loan portfolio since fast growing credit portfolios in which the majority of credits have just been extended tend to show a very high level of volatility in risk profile, which can be confusing if not viewed within the right context.
ON-PREMISES OR CLOUD-BASED SOLUTION
The Paretix solution can be hosted within your financial institution's servers or on our secure cloud, allowing the solution to be rolled out without a significant upfront cost in hardware.
To learn how Paretix can help empower your financial institution with digital lending, we offer a free, customized, one-on-one online workshop in which we discuss your requirements, showcase the Paretix system and explain how we would customize the solution to your requirements.
To schedule your own conversation with Paretix, please click the button below and we'll be sure to contact you.