Alfa-Bank started technology of assessment of probability of credit fraud

On July 2, 2015 it became known of integration into decision making system on issue of the retail credits of Alfa-Bank of the scoring FICO Fraud Score model Alfa-Bank^[1].

Project Results

"Use of the scoring FICO Fraud Score model will allow us to reveal quickly suspicious credit requests for the detailed analysis, - Pavel Aksenov, the chief portfolio risk manager of Alfa-Bank said. – It will also increase the speed and quality of detection of potentially unfair borrowers that, according to us, will positively affect service quality of responsible citizens whom our Bank wants to see among the clients. Testing of the FICO Fraud Score model on real credit questionnaires showed high quality of segmentation that causes to anticipate increases in efficiency of all procedure of decision making in Bank".

Alfa-Bank, 2013

"Development retail led crediting to emergence of the whole industry of credit fraud from which both creditors, and fair borrowers suffer, - noted Alexander Vikulin, the CEO National Bureau of Credit Histories (NBCH). – For this reason NBKI concentrated the efforts on development and deployment in the Russian practice of modern instruments of counteraction to fraud. The responsible and market credit institutions aiming at improving competitiveness more and more actively start implementation of effective solutions NBKI and FICO".

"The scoring FICO Fraud Score model allows the creditor to avoid losses at the most important stage of credit process – at a stage of consideration of the request before issuance of credit, - Elena Koneva, the director of scoring of FICO, the PLUSworld.ru portal reported. – Our analysts and experts did huge work on creation of the model ranging credit requests on a risk degree of credit fraud. Application of FICO Fraud Score together with the traditional scoring of bureau estimating risks on the basis of credit stories is capable to improve significantly process of providing loans not only on the scale of credit institution, but also in all system of retail lending in the country".

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