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Loan Risk Assessment

Loan Risk Assessment is a function that evaluates the risk of granting a loan based on the applicant’s documents. By analyzing a PDF containing loan-related information, the system extracts and assesses the content to determine the applicant’s eligibility. It assigns a risk level (low, medium, or high) based on the applicant’s profile and required documents. It also verifies if all necessary documents are provided and flags any missing ones. Additionally, the system may suggest complementary services, like a savings account or credit card, if the loan application is complete.

Introducing

Use Case

Loan Application Processing: Banks and financial institutions can quickly assess loan applications by automating the document review process.

Risk Level Assignment: Enables the institution to evaluate and categorize loan risk levels (low, medium, high).

Document Verification: Helps ensure that all mandatory documents are submitted and highlights any missing documents for the applicant.

Upselling Services: Recommends additional services such as savings accounts or credit cards based on the loan application data.

Who Benefits?

Efficiency Improvement: Reduces manual effort by up to 80% in document analysis and risk assessment.
Risk Reduction: Minimizes human errors in assessing loan risk, leading to more accurate evaluations and a potential 30% reduction in loan defaults.
Faster Loan Processing: Speeds up the loan approval process by up to 50%, providing faster results to applicants.
Document Completeness: Ensures 100% verification of required documents, reducing delays due to missing paperwork.

Components

PDF Document Uploader: Interface to upload loan-related documents.
Text Extraction Engine: Extracts relevant text from the PDF document.
Risk Evaluation Algorithm: Analyzes the extracted data to determine risk levels (low, medium, high).
Document Verification System: Checks for completeness of mandatory documents and identifies missing items.
Suggestions Engine: Recommends additional banking services based on the loan assessment.

Guide Tour

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This demo showcases how AI can automate loan default prediction, empowering lenders with valuable insights for proactive risk management.

This AI model is trained to use natural language processing (NLP) to understand and extract important information from loan applications. It then evaluates this information by comparing it to a dataset of past loans, including both those that were approved and those that were identified as fraudulent.