Cashdrive service launched underwriting with GIS and AI technologies

2023: Underwriting launch

Cashdrive service launched underwriting with GIS and AI technologies. Marketing Logic announced this on December 7, 2023.

Cashdrive is an online loan service secured by a car. Cashdrive underwriting takes into account the geography of car operation and uses artificial intelligence to assess risk.

Underwriting consists of dozens of types of parameters that enter the database automatically. The system takes into account fraud indicators and assesses risk factors based on data from credit bureaus, FSSP - federal bailiff service, FTS - federal tax service, open sources, Public services - the client agrees in advance to process, lawsuits and notifications, bankruptcy information, Marketing Logic geodata, information provided by the client.

The AI module of the underwriting system consists of algorithms and neural networks that are specially trained on validated datasets. This solution helps service employees assess the client's profile according to the maximum possible criteria, highlight risk factors, calculate loan rates and assess the value of the collateral.

The AI module also assesses risks based on geoanalytics. With the help of Atlas GIS units, the system calculates the risks when operating a pledged car depending on the city and area of ​ ​ residence. Geodata helps to correlate, for example, the city of driving with the quality of roads and the traffic police database: the types and severity of accidents in this area, the number of administrative offenses and thefts in the region.

We work online almost throughout Russia. It is important for us to assess the parameters for individual regions and cities with different socio-demographic characteristics. This is necessary to make a decision on the issuance of a loan and to calculate the optimal coverage of the loan amount by a pledged car. Of course, all banks and MFIs that are engaged in collateral lending have a similar process. But we are glad to have additional expertise on our side, also fully automated. The AI modules of our partner Marketing Logic use dozens of data layers from the GIS they developed. For us, this is a significant plus in underwriting, which does not require us to develop all blocks from scratch. At the same time, we get the most complete predictive analytics, which takes into account dozens, if not hundreds of factors. Using exclusively the expertise of employees, this cannot be implemented, so we have introduced modern technologies to help them, "the cashdrive company noted.

The system of underwriting and risk calculation is seamlessly built into CRM: there the process is displayed in stages with all the data. The employee directly in CRM sees the documents, data, calculations and coefficients that the system processes.

The project with cashdrive turned out to be interesting and ambitious. We not only formed new geofici for forward-looking models, but also participated in the development and configuration of elements of the credit pipeline. Geo-expertise here enriches and clarifies the data, helps in each case to rely not on abstract or average indicators, but to apply them to a specific city or region. In the project, we applied our many years of experience with banks and credit risks, as well as technical expertise and the ability to work structurally with data. We are grateful to the cashdrive team for their trust and plan to develop our cooperation, "said Dmitry Galkin, CEO of Marketing Logic.