88% of India’s consumers are thin-file, no-file and credit challenged. This is a massive problem. These are the “invisible” consumers; invisible not because they’re high risk, but rather because current risk assessment systems simply don’t work for them. You can’t build a middle class or improve the standard of living for a society or individual without access to financial products and services. And you can’t deliver that access if the risk of the engagement cannot be assessed.
Getting ‘banked’ is ok. But getting “banked” still doesn’t solve the underlying problem of financial risk invisibility. If the risk is not understood . . . no one is delivering services to these consumers that improves their life.
So . . . What if you could sit each customer down with a psychologist and just ask them, “Are you really going to pay us back?” With ARIA™ you can. Neener Analytics has developed the World’s First Augmented AI Chat-based Risk Decisioning Tool. Named ARIA™ or Autonomous Risk Information Assistant that automates that process.
ARIA™ is not a chatbot; she’s a fully automated AI & Deep Learning driven decisioning solution that in in as little as a 3-minute conversation a lender can reduce their defaults by +27% and increase their volume (more customers) by +30%. It works every time.
ARIA™ is able to deliver this level of insight because to her the customer is Small Data, an individual, not just a big data aggregation. ARIA™ is making decisions about the applicant the exactly the way humans make decision about other human beings. Not based on what they talk about (big data), but rather how they talk about those things (small data). Exactly, like humans… except better, with higher accuracy and less bias. ARIA™ encourages your customer to talk about who they are. She provides positive and insightful commentary which encourages the applicant’s free flow of information as she plays the part of our psychologist, helping you understand if this will be a successful loan.