The illion Transaction Risk Score (iTRS) provides unique insights into consumer financial behaviour that can help lenders optimise their decisioning processes.
Below we examine two case studies where credit providers have successfully reduced operational costs and bad debt.
Case study 1: Reduction of operational costs
Problem
A quickly scaling business needed to reduce its operational costs as it reached a milestone of over 100,000 credit applications a year.
Solution
By implementing the illion Transaction Risk Score (iTRS) alongside a range of other illion solutions, we helped our client digitise its systems. We then conducted a retrospective assessment that proved the speed and accuracy with which the iTRS could optimise steps in its credit decisioning process.
Outcome
The client redirected some of its resources to higher-value tasks and is now saving an estimated 10+ FTE.
Case study 2: Reduction of bad debt
Problem
An established small credit business had a bad debt ratio well above the industry average.
Solution
Through retrospective analysis, we demonstrated that the illion Transaction Risk Score (iTRS) could help our client assess bad debt risks earlier in the credit application process, as the iTRS enabled it to evaluate more data points with greater accuracy.
Outcome
The client has reduced its bad debt by over $5M annually.
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