- #Technical steps of building a credit risk engine full#
- #Technical steps of building a credit risk engine software#
#Technical steps of building a credit risk engine full#
The team continues to support ICS as it explores the full capabilities of Vault. Thought Machine was instrumental in helping ICS deploy and configure Vault in three months.
#Technical steps of building a credit risk engine software#
“Vault on Google Cloud gives us the flexibility and flavor to offer new services by adding modules to our core platform without buying additional software licenses.” “To solve the SME credit gap with technology, we may need to make a sideways or lateral move in terms of our product,” says Austin. The company stores transactional data on Cloud SQL and leverages machine learning (ML) models to analyze credit risks in BigQuery. ICS runs microservices on Google Kubernetes Engine (GKE) and Vault core banking engine by Thought Machine, a Google Cloud partner. “One notable example is helping pharmacies get loans faster to meet the unprecedented demand for medical supplies during the COVID-19 pandemic.”
“Thanks to Google Cloud’s presence in Indonesia, we can meet data sovereignty rules and quickly set up our operations to help SMEs,” says Jonathan (Jon) Austin, Chief Technology Officer at ICS. Indonesia is the primary focus for ICS, where more than 64 million SMEs contribute to 61% of GDP and employ 91% of the workforce. “Banks can leverage our digital credit platform hosted on Google Cloud to support SMEs, without spending time to build the IT system or the partner ecosystem.”Īccelerating SME lending on a cloud-native platform “Digital lending is inevitable, but banks often don’t have the infrastructure to act quickly,” says Reinier Musters, founder and Chief Executive Officer at ICS. Addressing these challenges, financial technology company Impact Credit Solutions (ICS) makes it easier for banks to lend to SMEs through automation and analytics on its digital credit platform, powered by Google Cloud. However, SMEs find it hard to get funding from traditional lenders.įor banks, existing SME lending poses two challenges, high operational costs to serve many borrowers for small loans and high risk exposure to companies with limited credit history. In tough times, a bank loan can mean the difference between keeping workers or closing the business. A furniture maker can meet production demand and grow the business by investing in woodworking equipment. A farmer can increase crop yields with an effective irrigation system instead of hand watering. Small and medium business (SME) loans have huge potential to incite change. Save money with our transparent approach to pricing Managed Service for Microsoft Active Directory Rapid Assessment & Migration Program (RAMP) Hybrid and Multi-cloud Application PlatformĬOVID-19 Solutions for the Healthcare Industry
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