CatRobo
Opening up new possibilities with Payment Services Directive 2
AdviceRobo offers lenders a brand-new Payment Services Directive 2 (PSD2) API for transactional data categorisation and default prediction.
Fixing global credit
CatRobo
Creating innovations in payment transactions and better customer protection
The PSD2 is the new European law for the payment transactions of consumers and businesses and aims to increase competition in the EU banking market, to stimulate more innovations in payment transactions and to better protect customers. In most EU countries it has become effective, and banks are investigating and exploring the opportunities for improved payment and account information services. FinTech AdviceRobo launches Europe’s first pan-European categorisation and default prediction API CatRobo that helps bank to use transactional data for advanced credit decision making.
CatRobo
- Categorises up to 70% of total amount of transactions of different banks
- Provides categorizations of transactional data
- Works with different inputs from different banks
- Automatically profiles your consumers and predicts creditworthiness
- Flags risks per consumer like cashflow profiles, payment morality eg gambling, charge backs, etc
- Profiles customers in risk clusters as input for risk based pricing and explanation of decisions
- Shortens application & risk monitoring process
- Predicts potential payments problems individually
- Developed with KPMG
General application
Additional benefit for Dutch banks (delivering in different formats) is that the API automatically translates the different data formats banks work with. For other EU banks AdviceRobo can customize like this to the specific country within a couple of weeks.
How it works – Example personas
Based on the data, different clusters can be distinguished. These clusters have different risk levels. The clusters can be used for risk based pricing or to explain decisions regarding loans.
How it works – Process
Share transaction & demographic data
- Anonymous csv files
- Demographic data: Age, partner, mortgage, loan size, property owner
- Duration of sync: Max 2 weeks
Clean and standardise
- All banks in same format
Extraction
- Create additional attributes e.g. recurrence, day and time of payment
Categorisation
- Rule based and non-rules based
- IBAN/Keywords
- Type of payment
Feature engineering
- Risk attribute extraction
Risk modelling
- Correlation testing
- Machine learning
- Persona creation
Our solution
- Financially healthy global population
- Responsible lending
- Fast on-boarding process
About
- 2,000,000+ thin files scored
- 15%+ increased sales
- 20% Reduced default
- 15%+ Operational efficiency
