AI-Based Credit Scoring System Development Services

Outstanding Scalo Credit Scoring Systems for Fintech

Are you interested in standing out in the banking market as a company uniquely close to the customers?

Revolutionize your lending process by implementing AI-based credit scoring software from Scalo. Artificial intelligence assistance will enable your employees to score bank customers accurately and increase the positive credit decision rate responsibly.

Your bank’s customers will feel cared for, being offered a guaranteed loan to bolster their finances under challenging situations. And you will see regular revenue increases and a growing community of satisfied customers.

The Key Features of Fintech Credit Scoring System

The AI-powered lending solution brings a multitude of benefits to customers and businesses.

Discover how innovative credit scoring software will streamline extending loan offering to the right people and multiply fintechs’ revenue:

Advanced ML Models for Credit Risk Assessment

Based on artificial intelligence and machine learning, credit scoring software shows higher accuracy in assessing creditworthiness based on historical information. The software positively impacts the percentage of loans extended and the achievement of targeted KPIs.

Real-Time Credit Scoring Using AI Algorithms

Empowered with AI, the modern credit scoring system considers details bypassed by outdated credit risk assessment models. As a result, those previously rejected but able to repay get a chance for a loan.

API Integration with Banking and Financial Systems

API integration with the systems already used by your bank allows you to gather precise information about your customers. When you extend credit, any information that improves the final score is worth its weight in gold.

Decision-Making Process Automation

The lending process based on the AI-based credit scoring system is several times faster than that carried out by a human. Everything is digital, and the borrower only needs to approve the pre-filled application.

Predictive Analytics for Future Creditworthiness

The power of AI and ML allows you to extend credit based on historical data and predict which customers will be interested in this service later on. Predictive analysis also allows you to set achievable KPIs in your business.

Fraud Detection and AML Features

An automated tool is more resistant to fraud than a human. Credit scoring software minimizes the risk of multiple suspicious transactions in a short time, which can be an attempt to extend credit using money mules.

Secure Data Encryption and Privacy Protection Measures

Credit scoring systems can be flexibly adapted to the rules of the region. Adaptation of the software to the US, EU, or other regulations is a standard part of its production. In addition, all data processed inside the lending system is encrypted to prevent identification.

Continuous Learning and Adaptation Based on New Data

AI-powered lending software processes customer information in real time and evaluates the chances of receiving a loan based on this data. Therefore, nothing prevents a customer who was denied a loan from getting one after changing their financial habits. Similarly, a person offered a high loan may be rejected due to having too many other obligations.

Want to be close to your customers like never before?

Reshaping Personal Loan Services into an Innovative Digital Experience

A state-of-the-art, AI, and machine learning credit scoring-based solution is an opportunity to reach a decided and interested audience that will benefit from a customized loan offer. Artificial intelligence reduces the burden on credit analytics staff, providing detailed information much faster. With the credit scoring system from Scalo, you reach more credit-worthy members, who are more likely to receive a positive credit decision and won’t refuse a small loan for an unexpected expense or a spontaneous whim.

Using innovative credit scoring software allows your consultants to prepare a ready-to-approve credit proposal in a few clicks. Better credit analysis accuracy means significantly higher conversion from loan proposals and higher repayment proceeds. The AI-powered tools use parameters ignored by traditional systems that will protect your bank from dishonest or unreliable borrowers.

An Overview of Your New Credit Scoring System by Scalo

You already know the advantages of credit scoring software and the benefits it will bring to you and your customers.

Learn more about the components of the personal lending system and our approach to developing this fintech solution in the paragraphs below:

Outdated Systems Modernization

Escape from obsolete technologies. Based on AI and machine learning, credit scoring features allow you to stay up-to-date with evolving fintech solutions. Investing in an innovative credit scoring system is also crucial to the security of financial operations – the risk of a breach of modern technology is lower than an attack on an old-fashioned system.

Data Migration

We will migrate all data from your existing credit risk assessment program without losing the smallest piece of customer information. If you wish, we will also perform a cloud migration. AI-based credit scoring software will land in your company without disturbing the daily duties of bank employees.

Custom Development

Do you want to introduce a new benefit to your bank borrowers? We can create a custom credit scoring system tailored to the needs and size of your company. Personal lending solutions can be individually modified and expanded with options to measure various parameters crucial for your bank's development.

UI/UX Design

We understand a highly polished backend is not enough. When developing AI-based credit scoring software at Scalo, we also take care of an intuitive interface, easy navigation, and clear presentation of data. Every user, from customer service to the C-Level, should be able to navigate the system and seamlessly find the information they need.

QA & Testing

Credit scoring software should make the least number of mistakes possible. That's why it's vital for us to test the entire machine learning-based credit scoring system thoroughly. We check the correct data processing, the algorithms' reasoning, and the outputs' correctness.

Maintenance

The completed fintech software should be regularly monitored. It is essential for AI-based credit scoring software, which is still an innovation in the banking industry. At Scalo, you can count on our support in updating, maintaining, and fixing malfunctioning components.

Are you ready to transform outdated lending systems?

Create a new credit scoring software with Scalo experts and get more satisfied customers.

Credit Scoring Software Development Process Step-by-Step

Credit scoring system development in Scalo includes six essential steps that let us deliver top-notch solutions adjusted to achieve business goals faster than your competitors.

The process consists of the following elements:

Requirements Refinement

The process starts with knowing your needs, expectations, and budget limitations. During the initial meeting, we determine the most critical elements of fintech software, considering the leading ideas and technical capabilities.

Development

The software development team transforms our arrangements into a full-scale AI-based credit scoring solution. To receive the best results, we use the most relevant programming languages and technologies that guarantee high performance and the ability to expand the system later.

Testing

Testers thoroughly check the software code and find all the bugs that could hinder the banking software’s reliability, safety, and user experience. Scalo testers team performs multiple test tasks to remove every defect from the product.

Deployment

Scalo specialists efficiently implement your AI-based credit scoring application without disrupting your workers’ daily duties. We also check the compatibility of the new product with your existing environment, migrate data, and optimize the performance. Your employees are trained to use and get the most out of the new credit scoring tool.

Maintenance

The application deployment does not mean the end of our cooperation. We regularly monitor the fintech solution implemented in your company to update features and improve its performance. We adapt the product to changing industry trends and regulatory requirements.

Support

If you or your team members encounter any problems with the credit scoring software, Scalo support staff will immediately react to the requests. We do our best to avoid significant delays in your business and minimize negative user experiences.

Choose the Suitable Cooperation Model with Scalo

We offer you multiple cooperation models to fit your company’s needs and desires.

You will receive the perfect solution, whether planning a new custom project, expanding your in-house development team, or consulting workshops for bank staff.

New Credit Scoring System Development

Your fintech software development process will be conducted by our experienced team from the beginning to the end. Scalo experts' comprehensive approach results in a modern and effective credit scoring solution – a reflection of your initial idea.

Project Team Augmentation

Are you developing your own credit scoring system but standing still due to insufficient knowledge and skills? Outsourcing of Scalo fintech development staff will accelerate your project and achieve an even better solution than you originally planned.

Workshops

Would you like to start by expanding your knowledge? We will gladly organize a workshop for you to introduce your bank employees to the reality of AI-based credit scoring solutions. We also conduct training workshops after a solution deployment so that every user can benefit from the fintech software's maximum capabilities.

Why Choose Scalo?

Are you looking for a specialist in software solutions for fintech? You are in an excellent place! Scalo is among the leading providers of innovative software for the financial industry.

Clients appreciate our expertise in gaining more leads and surpassing the competition. We coordinate the entire fintech software development process from the idea to the first launch of the finished product, eagerly sharing our knowledge and customizing the project according to your vision.

Working with Scalo guarantees successful cooperation and receiving cutting-edge fintech software.

AI-Based Credit Scoring System Development