Amrit Satpathy
Ecosystem Manager
Welcome Finexos to the NayaOne marketplace! One of the leading advanced AI-powered Loan Book Vulnerability Analysis (LBVA) solution providers is now accessible to a range of financial institutions to discover and evaluate through NayaOne’s Digital Transformation Platform.
With the rising cost of living and interest rates, more customers are at risk of suffering financial difficulties. More accurately predicting the likelihood of default is a key factor in ensuring strong loan book performance, good consumer outcomes, and maintaining a competitive edge to support corporate innovation. It is particularly important in volatile times of rising inflation and interest rates. Early detection of deteriorating borrower financial situations enables lenders to make interventions to reduce the risk of default and helps meet Consumer Duty regulatory compliance and goal lifetime for customer.
- Risk mitigation and stronger loan book performance – data currently available or in use is used to provide an additional risk-mitigation data layer, complete with predictive forward-looking analysis and without the need for technical integrations. This provides a cost-effective, in-depth analysis of the underlying risk and quality of a loan book, leading to stronger loan book performance.
- Boosted bottom line – reducing default rates reduces losses, while increasing ROCE helps the accessing of lower-cost capital through balance sheet providers, and opportunities to pass on savings in the form of lower APR to borrowers. Identification of new lending opportunities can be found within the current banking database and from rejected loan applications that can now be assessed on the basis of financial capability rather than credit scores alone.
- Enhanced regulatory compliance via better consumer outcomes – early detection of risk of default enables faster actions for borrowers in financial difficulty, even before they find themselves in a deteriorating situation, with real-time vulnerability analysis using Open Banking data if available. Better monitoring also helps to enhance Consumer Duty compliance.
A Brazilian retail bank had issues with the high default rates it was experiencing in its loan book compared to its peers. This made securing funding from its balance sheet provider challenging until the bank was able to demonstrate it had resolved the issue. A Finexos LBVA pilot identified a number of key risks to the lending model using only a fraction of the Finexos AI-powered risk engine’s factors. Results revealed: a 53% improvement in default detection was possible a 257% increase of the Return on Capital Employed (ROCE) was possible, presenting the bank with the opportunity to substantially uplift profitability and improve cash position. The advanced LBVA required no technical integrations, with the secure Finexos platform simply requiring access to the information supplied at the point of origination.
We are delighted to be collaborating with NayaOne. Finexos advanced data science and technology solutions can make a considerable positive impact for lenders in terms of default detection and raising capital on the wholesale credit markets, and for borrowers and society, particularly so in an economic environment of rising interest rates and cost of living. We look forward to working with NayaOne to showcase our cutting-edge British Fintech to the UK and beyond via the Digital Transformation Platform.
Mark Fisher
Founder & Chief Product Officer, Finexos
We are delighted to welcome Finexos to the NayaOne marketplace! As a leading AI-powered Loan Book Vulnerability Analysis solution provider, Finexos empowers financial institutions in streamlining their loan book analysis operations. Banks and other FIs can discover Finexos solutions on the marketplace and test via NayaOne's Digital Transformation Platform.
Oli Platt
Product and Marketplace Manager, NayaOne
Finexos is the next-generation credit risk and analytics platform powered by advanced AI, data science and behavioural analytics. The unique technology reduces risk and costs for credit providers, unlocks untapped markets and enables better outcomes for consumers, SMEs and lenders. The SaaS-based risk platform delivers more accurate results using standard transactional data and with enhanced capability when combined with multi-source Open Banking and Finance data, including real-time affordability and vulnerability analysis.
