Here at XR we worked with a financial institution to develop an intelligent automation solution for assessing credit risk. Basically, reviewing applications for credit and determining where fraud is likely and further investigation required.
An activity traditionally carried out in a specific team, often part of a contact centre, where a combined knowledge of policy rules, institution guidelines, the warning signs and historic examples is required. In reality, although complex, this is quite a repetitive and mundane task where getting through a high volume is key.
Using our intelligent automation platform, we were able to create a solution that read the application, applied policy rules, assessed data for patterns of fraud and engaged co-workers for further information where required. The output was to provide the team with a likelihood of fraud rating for every application so that they could then investigate further – i.e. do the interesting bit.