Deploying next-generation credit underwriting systems: opportunities and challenges for auto and equipment finance providers
Advances in big data, digital and AI based co-pilots offer new opportunities for lenders to improve their credit-decisioning models and lending processes. Lenders and Fintechs who have already deployed these next-generation models, are achieving increased revenue, reduced credit-loss rates, and significant efficiency gains thanks to more precise and automated decisioning.
Asset Finance Connect’s technology workshop, which takes place in a private room at the Asset Finance Connect Conference, will focus on the opportunities and challenges for auto and equipment finance lenders of all sizes who are considering deploying next generation decisioning. The session will provide practical guidance and help identify innovative strategies participants can use in their businesses.
This is an opportunity for the UKs leading lending practitioners and technology experts to share their experience and understanding, and to collaborate to identify actionable strategies that work for auto and equipment finance lenders.
Improve Data Gathering Quality and Insights:
How can lenders implement more automation within the data gathering processes from brokers, dealers to end-customers by tapping new data sources to automate data acquisition, Fraud prevention using Open Banking APIs, KYC/AML, Company checks for UBO etc.
Decisioning Automation and Portfolio Monitoring:
- Discover how to implement more automated credit-decisioning models by bringing additional qualifications into the decision-making process to understand customer behaviours more precisely; asset registration for asset quality/residual value; and optimising loan portfolio performance by dynamic scorecard tuning, and react faster to changes in business environment.
- Application of AI co-pilots to reduce cost to serve / create scalability within existing segments and building capabilities within new segments for credit decisioning across complex deals through training.
Whilst ensuring any actions taken above for digital transformation are compliant to existing/emerging regulations throughout.
Key takeaways from the session would include:
- How to better predict credit risk – reducing defaults in a market with higher interest rates; and identifying opportunities to buy deeper despite economic uncertainty.
- How to reduce decision time – to improve customer experience and win more business
- How to identify fraud faster and more effectively; and
- How to reduce cost to serve / create scalability – including use of machine learning first to predict and subsequently to optimise use of manual underwriting.
Who should attend?
- Auto and equipment finance companies working in risk, technology or business strategy.
- Technology providers and AI specialists with experience of deploying solutions in auto and/or equipment finance organisations.
This session is moderated by Murad Baig who is Strategic Advisor to CA Auto Bank, Product Strategist at Data Pilot and Entrepreneur in Residence at Illuminate Financial. Prior to that he was Chief Product & Technology Officer at NETSOL Technologies, and before that Associate Director, Disruptive Technologies Financial Services at Deloitte UK.
If you are interested in participating in the workshop, please contact Edward Peck
BrokerZone - introducing a new community for specialist brokers.
Moderated by Stephen Bassett, head of asset finance community, Asset Finance Connect and Trevor Pirie, Consultant, Alexander Angel.
Topics to be discussed will be identified by the community over the coming weeks (give us your ideas) but are likely to include:
- Can brokers assume the traditional role of bank managers with their SME customers: is raising awareness of broker value among SMEs a task for Brokerzone, the NACFB or someone else?
- Is regulated business still worth the effort?
- One review to rule them all: what are the pros and cons of a single broker audit managed by the FLA?
- How should brokers be paid: why some brokers prefer to not disclose the amount they are earning from customers, and what does that tell us about how those that do disclose should manage the challenge of getting fair pay for the work they put in?
- Brokers are paid to introduce and not for the risks that follow: considering trading agreements and the opportunities and challenges of sharing risk and reward.
- How can the broking industry encourage good practice from lenders?
If you are already a regular attendee of Brokerzone events and would like to register to attend this session free of charge, then please contact Trevor Pirie
Next Generation Community - focus on diversity and inclusion.
Auto and asset finance companies can nominate young professionals from their organisation's to attend the conference session to network with their peers, whilst learning about the industry from auto, asset and equipment finance industry leaders.
Marcella Merli, one of the world’s leading auto finance thought leaders, will be the keynote speaker, presenting to the Leasing Foundation’s next gen community at the AFC Autumn conference.
Next Gen participants will be invited to join roundtables to network and engage in insightful discussion with their peers including: D&I, impact of Covid, owning your own career progression, balancing work and personal life, impact of a career break and balancing it with career ambitions.
Tickets will be available to our young professionals for the AFC Autumn Conference and exclusive access to the Next Generation Workshop at the special rate of £120 plus VAT.
- Marcella Merli, Head, CA Auto Bank Italy
- Alice Altemaire, CEO, Mobilize Financial Services
- Mike Randall, CEO, Simply
- Charlotte Downing, Head of Broker Development, Simply
- Philippa Pykett, Head of Digital SME Growth, Shawbrook Bank
- Inayah Noormahomed-Qureshi, Associate, Shoosmiths
- Richard Cameron, Commercial Director, Specialist Asset Finance, Close Brothers Asset Finance and Leasing
- Mel Chell, Director of Client Experience & Culture, Equivo
- Ricky McNeil, Director of Operations, MAF Finance Group
- Lauren Rhodes, Commercial Director (Banking Division), Corporate Asset Solutions
- Shereen Faroqui, Head of Business Development, Europe, FIS
- Jake Rose, Head of Europe Sales, FIS
If you have any queries or require further details about the Next Generation session, please contact Lisa Laverick
To book your young talent into the next gen event at the reduced price of £120 plus VAT per ticket, please contact Louise Clavey