«Kapitalbank» processes loan applications even faster
«Kapitalbank» has developed and launched the «Scoring» system of analysis and the “Underwriting” of borrower. It sounds difficult, but it's actually very simple.
Scoring is a system of assessing solvency of clients, which is based on statistical methods. As a rule, this is a computer program where a potential borrower’s data are entered. The program assigns “points” to bona-fide borrowers, raising their rating, and imposes a fine to debtors by reducing these “points”. The name “Scoring” comes from the English word “score”.
The scoring model allows to instantly receive information about a client (only with a client’s consent). Based on the client's rating, the Bank makes a decision to issue a loan.
As for the “Underwriting”, this is an assessment of credit risks, which also affects the decision to issue a loan.
Such strange concepts, which can be seem at the first glance, imply considurable advantages for the customers.
The things which are now done using the “Scoring” and “Underwriting,” used to be done manually and therefore took more time. The clients’ profiles might be reviewed for days, but now the decision to issue or reject is made in 5-10 minutes after automatic data processing.
The Scorring completely eliminates the human factor. The processes are impartial and objective. No “personal” relationship may affect the decision of the program.
The processes collect extensive data and structure it more carefully - this helps to make more interesting proposals to creditworthy customers.
“Kapitalbank” implements the latest systems and technologies to provide the clients with the best possible service. Follow the news and learn about innovations in the banking sector together with “Kapitalbank”.