London, February 13th 2019
Credit risk assessment innovator AdviceRobo demos at FinovateEurope 2019 its revolutionizing solution to assess credit quality by applying smart psychographic credit processing, artificial intelligence and the internet of things. This is world’s first solution that integrates lifestyles, attitudes and beliefs of people and other behavioural data into smart credit software.
AdviceRobo improves the credit decisioning process by providing lenders credit software to expand their acquisition to so called thin file customer segments. Think SMEs, self employed people, migrants, millennials in the western countries and also billions of consumers in developing countries. “We leverage the psychographic and behavioural data explosion into smart risk robots that improve lenders revenue and reduce their operational and risk costs big time,” company co-founder and CEO Diederick van Thiel said.
Global market leading banks like BNP Paribas and many others already experience compelling benefits by using AdviceRobo solutions: 15% more sales at a 20% lower default rate, the highest NPS in the market and over 20% operational cost reduction.
Access to loans
There are some 4.5 billion people worldwide who have insufficient or no access to loans, because they have little or no credit history. “Our software enables lenders to target these underserved customers and streamline their credit processes,” said Van Thiel. “This stimulates prosperity and the economy. Moreover, our software accelerates credit processes and identify the key risk signals of existing clients.”
Customer is in the drivers’ seat in this brand new release
Integrating facial recognition in authentication, a personal dialogue program and smart data validation are the core of this new software. The customer is in the lead in sharing data to further smoothen and shorten the lending process. AdviceRobo intends to transform global credit with JACQ, its Psychographic Credit Scoring Robot.
FinovateEurope is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in London, the event offers an insight-packed glimpse into the future of money via a fast-paced, and unique format.
Diederick van Thiel and Rosali Steenkamer founded AdviceRobo in 2013 to develop software for predictive risk services. In 2016 AdviceRobo demonstrated their CreditRobo solution at FinovateEurope. With clients across 13+ countries in Europe and Latin America, AdviceRobo software supports lenders to speed up their risk processes and enables financial inclusion in both developed and developing markets. September 2018, KPMG acquired a minority stake in AdviceRobo. The company has global partnerships with KPMG and Microsoft. Offices in Amsterdam, London, Paris and Tokyo.