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New decision-making tools based on analytics boost the credit market by reducing defaults and increasing the volume of transactions
With the introduction of the Positive Registry and new data sources, algorithms have allowed the sector to go beyond the traditional credit rating for individuals and companies
São Paulo, May 13, 2021: The enormous growth in the volume and relevance of data in society has made the Analytics area one of the most important in the new socio-economic arena. In the credit market, this reality is evident.
With the adoption of analytics, credit bureaus, one of whose functions is to provide credit assessment tools, have broadened their scope of services and started to offer solutions that also have an impact on companies' bottom lines. The Analytics area, which brings together computing, technology, mathematics, statistics, data science and business, now accounts for one of the bureaus' biggest investments in innovation.
Through algorithms, the Positive Registry and the entry of new data sources have enabled a series of new decision-making tools, in addition to the traditional credit rating for individuals and companies. In the assessment of Elias Sfeir, president of the National Association of Credit Bureaus (ANBC), this evolution in the world of Analytics allows bureaus' clients and the national credit market to reach new heights, reducing defaults and fraud, increasing transactions and the volume of their portfolios.
Decision-making aimed at obtaining financial results is also fertile ground for bureaus in the current scenario. When it comes to developing intelligence to, for example, help customers identify who is best suited to making a particular investment, this is an expansion of the bureau's activity, which starts to provide a score for investments. It is also possible to create scores for insurance or for the propensity to consume certain products, an initiative that contributes positively to the national economic scenario.
“Today, in addition to the microservices structure, we have new reports, all available in the cloud for clients, which allows us to add a whole new family of scores to the same report, a whole new family of analyses. In this way, the business model evolves, with Analytics bringing a new socio-economic dynamic,” says Sfeir.
An important feature of the Analytics world, the ANBC president points out, is that it evolves naturally and adapts to new realities and market demands.
“In this way, we find new applications and ways of providing intelligence to our customers” decision-making process, considering the volume of data and the need for rapid decision-making," he concludes.
ANBC Press Relations
Regina Pimenta: (11) 98136.6835 regina@pimenta.com
Ana Carolina Rodrigues: (11) 98674.0348 anacarolina@pimenta.com
