Decision 360: Open Finance for better lending decisions

决策 360：开放金融以做出更好的贷款决策

• 批准号: 10099934
• 金额: $ 11.03万
• 依托单位: NESTEGG LTD
• 依托单位国家: 英国
• 项目类别: Collaborative R&D
• 财政年份: 2024
• 资助国家: 英国
• 起止时间: 2024 至 无数据
• 项目状态: 未结题
• 来源: https://gtr.ukri.org/projects?ref=10099934
• 关键词: Decision; 360; Open; Finance; better

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.

创纪录的人数在财务上被排除在外。根据Fair4all Finance，1750万人无法获得负担得起的信贷。由于个人面临高通货膨胀和利率上升，负担得起的信贷不足30亿英镑的价格不足，因此无法获得负担得起的信贷。Nestegg的数据显示，信用评分较低的人最多可以在高成本信贷上获得高达40％的支出支出，从而降低了他们支付**优先账单的能力**。金融行为管理局（FCA）估计额外的利息**每年花费200亿英镑的家庭。要生计，借来的人。周期重复自我。 **进一步排除**结果。此外，还有一组**新被排除的**个人看到费用随通货膨胀和抵押贷款利率上升的个人。公平贷款决策系统使贷方很难做出快速公正的决策。他们过多地关注信贷局数据，这些数据未能考虑到财务上排除的需求。没有净资产的看法，也没有申请人的财务状况正在越来越好。如果拒绝申请人，则没有提供有关下次如何提高机会的任何信息。结果，**决策不足以与借款人的真实情况或贷方的风险偏好相符。 Using Open Finance NestEgg's decisioning service will provide:* Insight into credit card behaviors* 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 **更准确的**适用的图片。使用决策的责任贷方将：*在六个月内增加贷款30％*在2024年期间进行180,000张贷款*接受20％的贷款*接受先前拒绝的贷款*增加收入增加了720亿英镑的信用额度较差的贷款，而差的信用率很差，每年可节省6亿英镑的价格与使用高成本的信用师。这些借款人中有75％将生活在英格兰和威尔士最受贫困的最受贫困的20％。