There is no denying that artificial intelligence (AI) is gaining considerable traction in these modern times and AI in Credit Lending is revolutionizing the game.
Through the development and use of algorithms integrated into a dynamic computing environment, AI provides the foundation to simulate human intelligence processes. Simply said, AI aims to emulate human thought and behavior in machines, creating the future of all complicated decision-making.
Having said that, AI enables firms to make better choices by accelerating and enhancing strategic decision-making, hence strengthening foundational business operations. Moreover, due to the low-balance prepaid clients' inability to complete their calls or subscriptions, global mobile operators lose millions of dollars each year. Therefore, AI Credit Lending is the ideal instrument to find new possibilities and enhance revenue flows.
What is AI Credit Lending?
Simply put, AI Credit Lending allows mobile operators to safely issue loans to their subscribers based on smart assessments and analytics that help reduce credit risks. By giving subscribers the proper amount of credit, Monty Mobile's AI Credit Lending platform aims to increase the proportion of successfully performed revenue-generating actions inside the network.
Using machine learning algorithms is one of the primary ways that AI may be applied in credit lending. These algorithms are capable of analyzing vast quantities of data to find patterns that may be used to forecast an applicant's creditworthiness, hence reducing the chance of bad loans.
Invest in the future
With the rising threats brought on by OTT providers, Mobile Operators have to change their strategies to regain their core income, increase network usage, and create new revenue streams. More telcos are prepared to invest in AI to find new prospects as they become aware of the additional value of AI in telecommunication.
In contrast to conventional scoring, which considers each element separately, the AI Credit Lending platform from Monty Mobile employs AI Credit Scoring to uncover the underlying relationships between variables. It offers a more accurate evaluation of data that might not seem accurate if used through conventional scoring methods.
AI Credit Scoring uses ML (Machine Learning) to make predictions that get better over time, which increases the accuracy of credit decisions and loan projections. Contrary to standard credit scoring, it offers intricate guidelines that aid in preventing the rejection of qualified customers. With AI Credit Lending, MNOs can boost profits, lower bad debt, as well as recognize and address the requirements of their customers, preserving their loyalty and lowering turnover.
How it works
Simply put, the lending flow is as follows: when a subscriber reaches a low balance and is unable to top up or subscribe to any bundle or service, the AI Lending Platform analyses the subscribers’ data and offers them the credits they need, allowing them to get the desired credits or subscribe to any of the requested bundles.
The credit Loan amount will differ from one subscriber to another depending on many factors that will decide their precise score. Each subscriber's credit score has an impact on the amount lent, their eligibility, and the anticipated level of risk.
Among many factors which the AI platform relies on when generating the scoring scheme, Charging History and Loan History are the two main data sources that will affect the creditworthiness of the applicant and decrease the percentage of the risk leading to an increase in revenue.
What are you waiting for?
Provide your subscribers with easy access to credit lending services through their mobile devices, offer them a user-friendly experience, and make their process of applying for loans and managing them as simple as possible.
Moreover, increase ARPU, decrease Churn, and lower the risk of bad loans with Monty Mobile AI Credit Lending’s machine learning algorithm, automated decision-making, risk assessment, advanced analytics, and simple integration.
It’s time to expand your offerings and provide better customer service by leveraging the power of AI!