Welcome

Risk and resilience: How are FS providers using Machine Learning and Data analytics to improve credit risk decisions and help customers through the cost-of-living crisis?

Sponsored by Experian
Wednesday 14 September 2022, 12:30
Zoom

With customers and balance sheets under increasing pressure amid the cost-of-living crisis, many organisations are prioritising sustainable growth and looking to automation to deliver accurate risk profiling and affordability checks to ensure they’re onboarding the right customers. Banks are also under internal pressure to ensure that risk modelling is accurate, and portfolios are balanced.

With bills and inflation skyrocketing, customers and clients are looking to their Financial Services providers to provide them with innovative and tailored support, which takes a holistic and responsible view of their financial situation and guides them through the uncertain economic times.

As a result, FS providers need to make sound credit risk and lending decisions which use rich data and automation to assess customers’ affordability. In addition, the FCA’s new Consumer Duty, which requires firms to prioritize customer’s needs and potential vulnerability, makes sound decisioning not only a risk management and digital transformation strategy, but a regulatory requirement.

To tackle these challenges many businesses are looking to innovative technologies and the insights enabled by data analytics, including machine learning, to improve risk assessment and credit approvals.They are also looking to these tools to increase the transparency and speed of decision making to ensure more seamless journeys and fairer outcomes for customers.

This roundtable event with senior industry peers will explore key challenges for financial services providers as they look to use their data to provide more personalised customer journeys and achieve better decisioning in an increasingly complex risk landscape.

Topics for discussion:

• How are FS providers using AI and machine learning to optimise decision making and support customers through the cost of living crisis?

• How are FS providers using data and analytics to scale operations, focus on innovation and drive growth opportunities in the current economic landscape?

• What are the main operational challenges for FS providers in adopting new technologies?

• What are the biggest data-related challenges for teams tasked with making credit risk decisions?

• What are the key business outcomes of greater use of Machine Learning and automation?

• How advanced are FS organisations in their cloud migration strategies, and what are the lessons learned as they scale in the cloud?

• How are FS providers planning to adapt operations to meet the requirements of the FCA’s Consumer Duty Act?

• Is governance around AI/ML preventing adoption of these techniques in risk use cases?

Timings:
12:30 – 12:40   Editor’s Welcome
12:40 – 14:00   Topic Discussion

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