Dubai PR Network, Online Press Release from Dubai and Middle East
Business, Banking and Investments(Banking & Investments)
Filter PR by
Deem Finance Brings New Dimension to Real-Time Credit Quality Using Ai-Enabled Scorecards

StraitsBridge Advisors designed and developed the high-performance AI-enabled real-time credit application scorecard system


Dubai, United Arab Emirates, March 9, 2020:   Deem, the UAE-based digitally-led financial services provider, in partnership with Singapore-headquartered StraitsBridge Advisors, has implemented a high performance artificial intelligence (AI) enabled real-time application scorecard system with the capability to continuously recalibrate and update their scorecard model.

The new scorecard system delivers increased accuracy in predicting the probability of default and scoring customer credit risk, in segmenting customers efficiently and reduces significantly manual effort required in Deem’s credit policy and underwriting processes.

With this, Deem is the first financial institution in the GCC region to adopt the innovative AI-enabled solution to manage credit risk. This enables Deem’s objective to provide its customers access to a wide range of highly competitive and affordable financial solutions. 

Deem is backed by Mubadala Investment Company, Fullerton Financial Holdings, Waha Capital and A.A. Al Moosa Enterprises and provides financial support to individuals through credit cards, loans and corporate deposits. The company has loans and advances of over AED 1 billion in addition to deposits, and its offering is powered by a user-friendly digital platform, geared towards enhanced customer experience.

StraitsBridge Advisors, a Singapore-headquartered consulting and fintech firm, designed and developed the high-performance AI-enabled real-time credit application scorecard system. StraitsBridge developed the scorecards through advanced AI-driven classification methods for generating the probability of default (PD) with very high accuracy and performance. Keeping in pace with the current regulatory requirements and the standards set by regional regulatory bodies, the scorecard system includes functionalities and parameters to handle various regulatory environments.

Commenting on the implementation, Sanjay Uppal, Founder & CEO of StraitsBridge Advisors, said: “We are delighted to partner with Deem in their digital journey through implementation of GCC’s first AI-driven Credit Application Scorecard. Our solution allows financial institutions to significantly enhance customer experience, achieve efficiencies and optimize credit risk.”

Commenting on the deployment of their new Application Scorecard, Torsten Kleine Buening, Chief Risk Officer, Deem, said: “As part of our digital transformation, we are continuously looking for ways to enhance our customer experience. One of these is by using AI-enabled models, jointly developed with our partners StraitsBridge, we have made our application and underwriting process much more efficient so we can deliver sustainable offers to our customers, with a faster turnaround time, while driving down the cost of risk.” 

A unique and advanced feature for this scorecard is its periodic AI-driven recalibration capability of scorecard engine and generation of personalised surface solution for effective recommendation of acceptable loans specific to a customer. 

Additional benefits include generation of machine-learning driven policy rules, customizable control settings of scorecard recalibration engine, self-adjusting PD cutoff subjected to Population Stability Analysis, threshold setting of rejection ratio, master scale generation, and with exhaustive model reporting including optimal cutoff scenario reporting, optimization results, model hyper-parameter reporting, and variable Importance report. 

Posted by : Dubai PR Network Editorial Team
Viewed 4606 times
PR Category : Banking & Investments
Posted on : Monday, March 9, 2020  4:28:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Refinitiv Partners with Iraqna IBTS to Enhance Regulatory Co...
Next Story : Abu Dhabi Exports Office (Adex) Approves AED 550 Million to ...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Make Up for Ever Introduces for the First Time Its New Active Care-in-foundation to Revive... [5228-Views]
Olay Eyes Hydra Gel [4830-Views]
COVID-19 Triggers Marked Decline in Global Trade: UNCTAD [4207-Views]
LG Prioritizes Home Comfort With Latest Air Conditioners for GCC Market [3428-Views]
Ralph Lauren Expands Its Earth Polo Offering, Reinforces Commitment to Protecting the Envi... [3370-Views]
6 Steps X 6 Products from Essence: The Shortcut that Perfects Skin - Now more than ever, S... [3292-Views]
Maillon De Cartier Watch [3259-Views]
Dynabook Refreshes Portégé X Series With Latest Intel® Core™ Processors and Privacy Featur... [3157-Views]
Kristina Fidelskaya A/W 2020 Collection “Dream” [2956-Views]
Vatika Focuses on Making Quarantine a Quality Time With New Viral Campaign [2731-Views]
Union Coop: AED 46 Million Project in Umm Al Quwain [2702-Views]
Your at-Home Spa Guide With Skin Republic [2649-Views]
Ashley Graham for Marina Rinaldi – Ss 20 [2636-Views]
Emirates Resumes Passenger Flights to 9 Destinations, including Connections between UK and... [2608-Views]
Dubai Sports Council Thanks Wise Leadership for Its Protection and Care of the Community [2595-Views]
Don't Make A Slow Recovery More Difficult with Quarantine Measures [2411-Views]
Dubai Customs: Strategic Plan to Curb Corona [2353-Views]
Happy Eid with Parmigiani Fleurier Toric Fleur [2321-Views]
Smart Cooking to Save Time With Lg Appliances This Ramadan [2288-Views]
Sony Middle East & Africa Launches New Compact 4K Handycam® Camcorder with Advanced Image ... [2255-Views]
Paying the Ransom Doubles Cost of Recovering from a Ransomware Attack, According to Sophos [2194-Views]
Medcare Women & Children Hospital Offers Peace of Mind to Families and Mums-to-Be and Cont... [2132-Views]
Al Zahia Supports Underprivileged Families With Electronic Tablets for Remote Learning [2075-Views]
Game for Anything: the All-New Toyota C-HR Lands in the UAE With Unmissable Distinctive St... [2070-Views]
BSH Middle East FZE Stands in Support with the Dubai Health Authority Amidst COVID-19 Pand... [2042-Views]
RSS Facebook Twitter LinkedDin
Top Sections
Top Stories