HackerEarth 2019
We will device a mechanism by which the banks can evaluate the potential risk before extending loans to clients based on many features and investment pattern. In addition, we would help facilitate online credit approval for clients.
Features/Applications :
Would extend this risk management mechanism to the financial institutions who give loans to individuals , companies and other banks. Would device an online system which would enable online credit approval. Objective:
For banks : minimise bank's risk and maximise profits for long term success of the banking organisation.
For Customers : quick and easy access to loans through online credit approval which will save time.
Plan of Action (during and after the campaign):
While evaluating the profile of potential clients who are individuals , we would include features like budget , Investment viability analysis customer income verified status, age, gender, marital status, loan purpose, residential status(owned, rented, family owned and so on), state, years spent at employer’s, payment due date, has the customer ever defaulted on payment etc. In case of clients who are corporates and other banks , we would study their investment pattern .
We will fully develop the online system for credit approval (in the form of a website where we can connect the database with our model) , where the client can feed in a few essential details along with required proofs and within few working days he/she will be informed about his/her credit approval status online without physically going to the bank.