Decision 360: Open Finance for better lending decisions

创纪录的人数被排除在经济之外。根据Fair4All Finance的数据，1750万人无法获得负担得起的信贷。由于个人面临高通胀和利率上升，无法获得负担得起的信贷变得更加糟糕。NestEgg的数据显示，信用评分较低的人将高达40%的可自由支配支出用于高成本信贷，降低了他们支付优先账单的能力。英国金融行为监管局（FCA）估计，额外的利息 ** 每年使家庭损失20亿英镑。支付高额利息使生活更加困难。为了收支平衡人们借钱。循环重复。** 进一步排除 ** 的结果。此外，还有一群 ** 新排除 ** 的个人，他们的费用随着通货膨胀和抵押贷款利率的上升而上升。遗留的贷款决策系统使贷款人很难做出快速和公平的决定。他们过于关注信用局的数据，而没有考虑到金融排斥者的需求。没有净资产或申请人的财务健康状况是否变好或变坏的观点。如果申请人被拒绝，他们就得不到任何关于下次如何提高机会的信息。因此，** 的决定与借款人的真实的情况和贷款人的风险偏好不充分一致。**为了确保对贷款申请人的全面了解，NestEgg将构建其软件的下一代版本（决定360）。使用开放金融NestEgg的决策服务将提供：* 深入了解信用卡行为 * 资产和净值的详细信息 * 财务健康方向指标 * 使用开放金融的借款人的提示和建议 * 机器学习，长期改善决策算法。目前市场 ** 数据孤岛。**该项目 ** 加速 ** 我们将更多数据源汇集在一起的能力，以便根据申请人的 ** 更准确 ** 的情况进行更公平，自动化的决策。使用Decision360的负责任的贷款人将：* 在六个月内增加30%的贷款 * 在2024年期间提供18万笔新的贷款 * 接受20%的先前拒绝的贷款 * 增加7.2亿英镑的收入与使用高成本债权人相比，信用评分较差的借款人每年将节省6亿英镑。这些借款人中有75%将居住在英格兰和威尔士最贫困的20%社区。

Record numbers of people are financially excluded. 17.5m people lack access to affordable credit according to Fair4All Finance. There's a shortfall in affordable credit of £3bn.Not having access to affordable credit has been made worse as individuals face high inflation and rising interest rates.NestEgg's data shows those people with lower credit scores use up to 40% of their discretionary spend on high cost credit, reducing their ability to pay **priority bills**. The Financial Conduct Authority (FCA) estimates extra interest **costs households £2bn every year.** Paying high interest makes it harder to afford to live. To make ends meet people borrow. The cycle repeats itself. **Further exclusion** results.Moreover, there's a group of **newly excluded** individuals who've seen expenses rise with inflation and mortgage rates.Legacy loan decisioning systems make it hard for lenders to make quick and fair decisions. They focus too much on Credit Bureau data which fails to take into account the needs of the financially excluded. There's no view of net worth or whether an applicant's financial health is getting better or worse. If an applicant is declined they're not provided with any information about how to improve their chances next time.As a result, **decisions aren't sufficiently aligned with the real circumstances of the borrower nor the risk appetite of the lender.**To ensure a comprehensive view of loan applicants, NestEgg will build a next generation version of its software (Decision 360). Using Open Finance NestEgg's decisioning service will provide:* Insight into credit card behaviours* Details of assets and net worth* Financial health direction indicators* Tips and advice to borrowers using open finance* Machine Learning, improving decisioning algorithms in the long-term.Currently the market is **data siloed.** This project **accelerates** our ability to bring more data sources _together_ for fairer, automated decisioning based on a **more accurate** picture of an applicant.Responsible lenders using Decision360 will:* Increase lending by 30% within six months* Make 180,000 _new_ loans during 2024* Accept 20% of previously declined loans* Increase revenue by £720mBorrowers with poor credit scores will have saved £600m per year compared to using a high cost creditor. 75% of these borrowers will live in the top 20% most deprived neighbourhoods in England and Wales.