Alternative Data > Best AI Platform
TurnKey Lender is an all-in-one intelligent platform that automates the whole lending process. The solution includes functionality that covers loan origination, underwriting, collateral management, borrower evaluation, risk management, debt collection, loan servicing, reporting, supervision, and regulatory compliance. One of the major factors that make TurnKey Lender stand out among the competitors is the company’s meaningful use of deep neural networks and machine learning combined with big data.
Lending operations tend to process large amounts of consumer data which remained unused up until recently. This left space for human error, lengthy loan approval process, and weak fraud protection. TurnKey Lender solved this problem by implementing advanced self-learning AI algorithms which analyze large sets of consumer data, learn the behavior patterns, and make risk evaluations and credit scoring based on this data.
Credit scoring is still one of the biggest challenges and risk sources for most lending operations. So the benefits of deploying TurnKey Lender’s AI-driven solutions manifest both for the lender and for the borrowers. There’s no guesswork involved in the credit decisioning anymore, even when there’s virtually no data about the borrower. Thanks to the sophisticated self-learning algorithms, lending businesses make faster and more accurate decisions which are based on the proprietary scoring technologies. Now the application can be analyzed and the loan issued to the right people within minutes where it used to take days. In addition, lenders are able to tap into previously underserved or unserved demographics which may have been overlooked by a person in the past.