Real time credit and risk decision making
BrightHouse is a weekly payment store extending credit to customers to purchase household goods from their shops and website. The key to business success is lending appropriately to ensure that consumers are able to make the repayments for products purchased. Uncontrolled lending will result in BrightHouse customers being unable to pay for their products, creating debt issues and damaging customer relations.
Our solution provides a real time decision engine to BrightHouse to allow them to determine whether it is appropriate to lend to a given customers and if so, how much. The solution takes feeds from BrighHouse and third party systems, drawing on credit scoring, ID verification, affordability, fraud risk and repayment history to date. Our solution is deployed in BrightHouse stores via a user interface created and supported by CDI. The BrightHouse website also links to our solution.
The solution in place processes in excess of 12,000 decisions per day, the multi-stage real time decision process typical taking 0.3 seconds. The process improvements facilitated by the solution have allowed the time taken to complete the customer application process to be reduced by 66%.