Solutions

Open Data Credit Risk Services

Optimisation through the use of Open Data

The Deloitte Financial Risk practice offers tailored services to assist your organisation in making the most of your access to Open Data, through advanced analytics, strategy development, and advisory solutions, optimising the risk and return equation.

Open Data provides organisations the opportunity to take an objective look at, and rethink, their credit risk management operating model – and Deloitte are uniquely placed to work together with our clients who are interested in better understanding the benefits of a strategic change in their current operating model. The global reach of the Deloitte Network means we have access to a global network of experts with direct in-market experience with Open Data.

Our services include:

 

Advanced Analytics
Identifying patterns and developing predictive models through the use of advanced analytics.

Our team of model development experts use advanced analytics alongside their extensive industry experience to optimise the structures observed in client data sets.

We can assist you to capitalise on the expanding Open Data ecosystem with Advanced Analytics to enhance your ability to:

  • Identify customer retention or rewards opportunities, or the risk of customer churn; 
  • Identify and work with vulnerable customers, and those experiencing payment difficulty; 
  • Improve response rates or outcomes, whether with regard to prospecting, or anywhere across the customer journey, from acquisition through to debt collection and recovery

 

Demystifying Data
The intersection between CSD, CCR and CDR.

Customer Supplied Data (CSD), Comprehensive Credit Reporting (CCR) and now the extended dataset to be available as a result of the Consumer Data Right (CDR) legislation, are all data sources that lenders need to consider in their lending decision-making. Each of these sources are complementary, but organisations are challenged to work out how to leverage each of these data sets optimally.

By assessing these data sources against your decision process, and analysing the predictive value they offer, we can help you determine which data elements to use, when, and how best to use them.

 

Credit Assessment, Responsible Lending and Pricing Strategies
Improve the quality and efficiency of your decision making process.

Automation is increasingly playing a key role in credit decision-making, where speed-to-decision is a competitive advantage for organisations. Open Data can assist organisations to make appropriate credit assessment decisions, while improving capabilities in responsible lending.

Open Data can be used to understand, verify and assess income, expenses and liabilities; or increase transparency throughout the lending process.

We assist in developing efficient and effective credit assessment processes and lending strategies; and more competitive, transparent and easier to understand pricing strategies - each enhanced with Open Data to optimise the risk and return equation.

 

Loan Origination and Transaction Fraud
Protecting your customers and your organisation.

Open Data can assist organisations to better assess the fraud risk associated with an application and to better detect fraudulent activity driven by fraudsters looking to open new accounts using manufactured or stolen identities.

The opportunities in the Fraud Management space don’t end with Loan Origination. Open Data makes available additional transactional data that could assist in identifying suspicious transactions on a customer’s account with your own organisation. Even where a third-party Behavioural Profiling Platform is currently in use, the extended Open Data dataset, coupled with transaction risk analytics, can further assist organisations in identifying and combatting fraudulent transactions.

We can assist you in using Open Data to improve your ability to identify suspicious applications and transactions, and reduce false-positives resulting from your fraud management strategy.

 

Credit Risk Management Technology
Digitally transforming your credit risk management capability with Open Data.

A continuing trend in Credit Risk Management is the evolution of the technology platforms used to manage credit risk. This is not only driven by the increased analytical complexity associated with regulatory and accounting requirements, but also by a recognition that organisations need to keep up with the increased pace of innovation. And Open Data is increasing the urgency for organisations to evolve.

We can assist you to understand your options for credit risk technology and help you develop a strategic roadmap to uplift and transform your credit risk management capability with Open Data.

Contact us

Kris Glaveski

Kris Glaveski

Director, Financial Risk

Kris is a Director in Deloitte’s Financial Risk practice within Risk Advisory, with extensive experience spanning Credit Risk Management, Business Improvement, Data and Analytics, and Financial Servic... More