Revolutionizing Commercial Credit with AI
Technology Category
- Analytics & Modeling - Machine Learning
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Education
- Finance & Insurance
Use Cases
- Predictive Maintenance
- Time Sensitive Networking
Services
- Data Science Services
The Customer
Not disclosed
About The Customer
The customer is one of the largest banks operating across Asia, Africa, and the Middle East, with a presence in over 60 countries. The bank manages an end-to-end commercial lending process, providing clients with more than $100 billion worth of credit. The bank employs a team of hundreds of relationship managers, analysts, and credit officers to efficiently provide a variety of credit products and services to thousands of businesses spread across dozens of countries and sectors. The bank has an annual operating income of $14 billion and employs 85,000 people globally.
The Challenge
One of the largest banks in Asia, Africa, and the Middle East, with a presence in over 60 countries, was grappling with the complexity of its commercial lending process. The bank, responsible for providing clients with more than $100 billion worth of credit, had to efficiently offer a variety of credit products and services to thousands of businesses across numerous countries and sectors. The process of assessing the creditworthiness of its clients was time-consuming and required the collection, review, and analysis of thousands of fields of both qualitative and quantitative information. This included financial statement line items, performance metrics, credit history, and natural language assessments of the borrower’s business prospects. The bank's credit officers had to navigate disparate systems, collaborate with relationship managers and credit analysts on credit structure and conditions, and request additional information before making a final decision. The average time-to-decision was often measured in weeks.
The Solution
The bank adopted C3 AI® Smart Lending, a SaaS application built with the C3 AI Platform, to reengineer its lending process. This solution uses machine learning to reduce the average approval cycle time by 30%. The streamlined process enabled the bank to extend more credit, accelerate revenue, and improve customer satisfaction. The C3 AI Platform applies machine learning to all relevant data sources to rapidly generate predictive insights. These insights can be used to enhance rules-based banking systems, improve critical compliance and operational processes, and transform customer experiences. The implementation of the C3 AI Platform across the enterprise was projected to bring significant economic value.
Operational Impact
Quantitative Benefit
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