Using AI to manage credit risk

Lenders report back on current AI use for credit risk and future investment – a special report from LendIt and Brighterion

Report • 2020

What is this paper about?

2020 will be remembered forever as the year fueled by a global pandemic. The aftershocks will continue to make waves for years to come, especially across the economic and financial landscape. However, there is always light at the end of the tunnel. In times of uncertainty, we adapt through technology.

LendIt and Brighterion collaborated on a survey of financial institutions and lenders to understand how they are investing in technology. Specifically, we wanted to understand how organizations are thinking about applying artificial intelligence (AI) to credit risk in light of the economic shakeup, and where they see the biggest opportunity for better credit risk management.

In this summary, we will walk you through the key takeaways from the survey, and discuss how Brighterion is approaching these important topics in AI for credit risk.

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Key Points:

  • The technologies FIs use to manage credit risk
  • How many FIs plan to invest in AI in the future
  • Current data sources used for credit risk monitoring
  • FIs’ biggest concerns about adopting AI for credit risk
  •   What matters most to FIs in an AI infrastructure

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