What does this mean for your credit risk strategy?
As a startup, you might have the latest cloud-based solutions for each component of the credit decisioning process, but they all come from different vendors. So, optimizing performance across all of your solutions is a laborious (and time-intensive) process. As a more established fintech, you might have the MVP solution you went to market with that can’t provide the decisioning accuracy—or power—you need to continue your growth journey. As an older, and typically larger, full- service company, you often have a wealth of data, but it’s locked up in various legacy systems that don’t communicate with each other and, once you’ve managed to get changes approved you’re reliant on IT or a vendor to update your systems.
Ultimately, whatever stage your business is in, the end result is the same—a disjointed, incomplete view of the credit risk lifecycle, limited insights into your decisioning performance, and unoptimized risk decisions that limit growth.
2
Made with FlippingBook Digital Publishing Software