What can you do with Big Data?

Aug 7, 2019 / by Sarah Kok

There is an unbelievable amount of data in the world. Moreover, it just keeps growing and growing: according to Domo, 2.5 quintillion bytes of data are created every single day. That’s 25, followed by 17 zeros. Alternatively, 2.5 billion billion bytes. It’s a lot!

It’s hard to articulate just how much data there is in the world. That’s where the term Big Data comes from - the exponential growth and availability of large data sets. Even more broadly, the term Big Data also encompasses the speed with which the data is created, and it’s inherent complexity due to its sheer volume. Photos, internet searches, credit card transactions, emails. Data comes at us from all angles, all the time.

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Topics: AI/ML, Alternative Credit Scoring, Credit Risk Management

How Algorithmic Bias can Creep into Machine Learning

Apr 29, 2019 / by Helene Stafferöd Westerlund

Machine learning has been an incredible breakthrough in the past quarter-century. From diagnostic decisions in hospitals to loan approvals in banking, the conclusions made by machine learning algorithms have key implications on our personal lives, allowing us to process larger quantities of data faster than ever before.

While machine learning and associated artificial intelligence inarguably provide many benefits, unfortunately, they are also prone to error through biases, just like humans. Once we understand how algorithms are designed, we realise that these algorithms that we place so much trust in will sometimes get things wrong.

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Topics: Lending, Credit Scoring, AI/ML, Financial Inclusion/Social Good

How Can AI and Machine Learning Explain Why? - The SHAP Model

Nov 5, 2018 / by Helene Stafferöd Westerlund

AI has been gaining popularity in recent years, particularly as it’s been improving in leaps and bounds for a whole range of tasks: from predicting the risk of child abuse in a given family to beating world champion Go players. 

However, one critical problem with using it for decision making in business is that the machine learning models can't explain the predictions they make: a customer might, reasonably, want to know why their cred it card or home loan application was denied. 

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Topics: Credit Scoring, AI/ML

5 Ways Alternative Credit Scoring Aids Financial Inclusion

Sep 10, 2018 / by Sarah Kok

To eliminate extreme poverty, many leading global organisations have made financial inclusion a top priority. Business leaders and policymakers have dedicated themselves to improving the quality of life for the world’s poorest, and they believe economic and social progress starts with an inclusive financial system that meets the needs for all income levels.

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Topics: Lending, Credit Scoring, AI/ML

Your Opportunity to Reach Half a Billion People

Sep 4, 2018 / by Helene Stafferöd Westerlund

2018 has been a fantastic year for Swedish startups. In the past 8 months alone, Stockholm has given birth to 3 new unicorns, and has been home to some of the world's biggest tech exits, including the $29B IPO of home-grown Spotify in April.

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Topics: Product Updates, Instantor News, AI/ML

The Impact of AUC and Gini on Credit Risk Models

Jul 19, 2018 / by Aleksandra Khokhlova

This post is for risk managers who want to explore tackling underwriting challenges through an Artificial Intelligence or Machine Learning (ML) toolbox. Here we examine two of the most popular tools for assessing the accuracy of a credit scoring models; Area Under the Curve (AUC) and Gini coefficient (Gini). We will briefly explain what AUC and Gini mean and how to interpret them in the context of credit scoring.

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Topics: Credit Scoring, AI/ML

9 Ways our Relationship With Technology is Changing Forever

Jul 17, 2018 / by Raiha Buchanan

"Today, technology is an integral part of our lives. Billions keep their smartphones glued to their sides, 24 hours a day. But, as technology becomes smarter, we will start to move beyond screens. A new paradigm will emerge, which will see our relationship with technology change forever."

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Topics: AI/ML

Consumer Finance Today: Latest Ebook Release

Jul 12, 2018 / by Sarah Kok

Few industries are transforming as rapidly as the financial industry, with financial institutions striving to gain a competitive edge on their peers. Traditional analog methods are being left behind as industry leaders implement technology to improve speed, efficiency as well as to meet customer needs in an altogether more comprehensive manner. In this fast-paced and unique environment, how can you navigate the market successfully?

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Topics: Compliance (GDPR, PSD2), Lending, AI/ML

What are AI and ML Really? - And how can They Help Your Business?

Jun 8, 2018 / by Raiha Buchanan

Nowadays both Artificial Intelligence (AI) and Machine Learning (ML) are used interchangeably. Even though AI and ML are intrinsically related, to fully leverage the benefits for your business it is crucial to understand what they are. In this article we will give you the low-down of AI and ML:

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Topics: Product Updates, AI/ML