Annual Income Estimation Engine for Individual Customers Qorus Banking Innovation Awards 2022

A bank that evolves leverages data to overcome the lack of data itself. Internal data often represent a limit for banking processes, as it happens for credit origination: a customer whose financial data in bank systems is not significant to perform creditworthiness assessments, undergoes a series of manual probes and controls that negatively affects the customer experience when applying for credit needs, in terms of process efficiency, time for credit granting and customer satisfaction. With the Income Estimation Engine, we infer the lack of financial inflows, indeed generating data that is embedded in credit origination processes, allowing customers to access the credit with a streamlined procedure. At the same time, the Engine infers customers affordability for a tailored commercial offer.