GenAI based Smart Credit Underwriter for Bank

Overview:

LUMIQ's Smart Credit Underwriter solution leverages Generative AI to transform the credit underwriting process for banks. This comprehensive solution includes two primary components: the Financial Information Analyzer and the Decision Engine, and together, they streamline the extraction, processing, and analysis of all data related to the application submitted by a customer.

The Financial Information Analyzer extracts and processes information from various documents, both financial and non-financial. It accurately retrieves critical data points such as transaction details, average balances, salary information, identity verification, etc. to support informed credit approval decisions. The Decision Engine helps make informed credit decisions based on the data extracted by the 1 module. It correlates all data with the bank’s underwriting guidelines, providing credit decisions and highlighting any associated risks, along with clear explanations.

Key Benefits:

· Consistent Credit Assessment

· Reduced Processing Times

· Automated Compliance checks

· Detailed Risk Analysis

· Lower Operational Cost

· Accurate Data Extraction

· Increased Underwriter Productivity

Key KPIs Affected:

· Increased STP

· Turnaround Time

· Reduction in unexpected NPAs

· Reduction in early delinquency

· Early detection of Forged documents

Technical Specifications:

Supported Platform – Azure

LLM Model – GPT-4

Deployment – Cloud-based