Your browser does not support JavaScript!

Author: Tronserve admin

Friday 30th July 2021 05:39 AM

Nationwide Partners with AI Experts Jaywing For Digital Transformation


image cap
147 Views

UK-based finance giant Nationwide has planned to partner with Jaywing, experts in AI and credit risk, as part of the business’ digital improvement journey.

Nationwide, the greatest building society in the UK, will work with Jaywing’s analytical team to discover the use of artificial intelligence for risk modelling. The company will study how machine learning can be used to application scoring.

Jaywing’s AI software, Archetype, will be used by Nationwide to make estimations with the goal of reducing bad debt and boosting recognition rates.

 The tool was chosen following an evaluation process which contrasted it to other AI based solutions. It was found that Archetype would allow lenders to deploy better, compliant models more regularly and with less effort.

 Matthew Jones, Head of Retail Modelling, Nationwide, said: “Jaywing’s approach and depth of knowledge has made us confident that the use of neural networks and similar technologies has hit a level of maturity where it can be deployed securely in the credit risk arena.”

Nevan McBride, Risk Practice Director at Jaywing, added: “Across the whole credit lifecycle, from application and behavioural scoring through to debt range, we’ve seen Archetype create significant score improvements every time.”

It was found through the assessment process that Archetype could match up to other AI based techniques.

This article is originally posted on FinTech.com


Share this post:


This is the old design: Please remove this section after work on the functionalities for new design

Posted on : Friday 30th July 2021 05:39 AM

Nationwide Partners with AI Experts Jaywing For Digital Transformation


none
Posted by  Tronserve admin
image cap

UK-based finance giant Nationwide has planned to partner with Jaywing, experts in AI and credit risk, as part of the business’ digital improvement journey.

Nationwide, the greatest building society in the UK, will work with Jaywing’s analytical team to discover the use of artificial intelligence for risk modelling. The company will study how machine learning can be used to application scoring.

Jaywing’s AI software, Archetype, will be used by Nationwide to make estimations with the goal of reducing bad debt and boosting recognition rates.

 The tool was chosen following an evaluation process which contrasted it to other AI based solutions. It was found that Archetype would allow lenders to deploy better, compliant models more regularly and with less effort.

 Matthew Jones, Head of Retail Modelling, Nationwide, said: “Jaywing’s approach and depth of knowledge has made us confident that the use of neural networks and similar technologies has hit a level of maturity where it can be deployed securely in the credit risk arena.”

Nevan McBride, Risk Practice Director at Jaywing, added: “Across the whole credit lifecycle, from application and behavioural scoring through to debt range, we’ve seen Archetype create significant score improvements every time.”

It was found through the assessment process that Archetype could match up to other AI based techniques.

This article is originally posted on FinTech.com

Tags:
nationwide partners ai experts