Estimation of client income resulted in an increased number of loan applications
A major Czech bank wanted to effectively implement digital/online processes during the COVID era, accelerate the loan process, and offer a relevant indicative loan to clients.
Using a two-phase model that draws from external and publicly available data sources, and a combination of statistical elements and machine learning, we identified significant differences between low and middle-income clients.
First, we estimated the income group affiliation, then calculated the probable income.
The indicative loan now aligns with clients’ expectations – resulting in an increased number of loan applications.
The project was completed in 6 months and was conducted entirely online, including all meetings and project handovers to the client.