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Case Studies

Online Credit Screening for Housing Finance Company

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Customer 

The client is among one of the top 5 leading Housing Finance Companies of India and provides competitively priced home loans in the affordable housing segment.

Business Problem 

Housing Finance loans usually have sufficient documentation requirements & the approval  process goes through stringent processes 

At the same time – any fraud related issue can cause significant loss compared to a low-ticket  loan. Thus, the business needed to identify potential frauds or possible non-repayment early in  the cycle. This meant the client needed to check for matches across various parameters ranging  from contact data to collateral to demographic data and bank accounts. 

A key requirement was to identify guarantors who may guarantee several loans at same time. Additionally, groups of individuals may be in cohort directly or indirectly leading to group  exposure needed identification. 

Identifying whether the property for which loan was being sought has been hypothecated earlier  was another business challenge. Address patterns can be varying and identifying issues related to  “invalid property” or “repeat property hypothecation” required intelligent address matching. Client also needed to check with various negative lists like defaulters, negative companies etc. 

Solution 

Client selected Deduplix post intensive PoC including several established players Deduplix Enterprise solution is currently implemented integrated with client environment. The workflow is architected around the core Deduplix engine such that it meets client’s various  

requirements to address fraud, group exposure, negative data scrub and property match. The solution is sized for number of applications needed to process during peak time, meet  required turnaround time and f stakeholders needing to be entity resolved per application. 

Business Impact 

  1. The alerts generated through Deduplix solution has enabled client to investigate cases early  
  2. 60 % increase in relevant matches over the existing system for first implementation and second  in the cycle.  upgrade resulted in further jump of 30 % over the first
  1. UCIC generation – has ensured compliance adherence 
  2. Zero-wait time for loan officers and the IT-department for optimizing cost and infrastructure  3. Quick response time – has enabled business to quickly turnaround loans 
  3. Milliseconds response for providing match result of receiving an enquiry  4. Property Address Match – a challenging one due to nature of addresses – has been met  
  4. Savings of close to a million dollars annually  leading to increased ability by client to identify potential properties which come again for
  1. Zero-Down Time through active-active replication  hypothecation.
  1. Business Continuity, performance scalability, high accuracy ensured all round impact on client  5. Business Continuity, performance scalability, high accuracy has ensured all round impact on ability to manage risk, control fraud and increase the coverage of their offerings client ability to manage risk, control fraud and increase the coverage of their offerings

Ixsight Technologies Pvt Ltd provides Enterprise-wide Data Quality Solutions to help organisations embed Entity Resolution Analytics and Data Quality for Risk Mitigation Fraud Control, Compliance and Customer loyalty  in their DNA. Ixsight’s solutions has been used to process over 10000 million records across 115+ customers across the Banking, Financial Services, Insurance and Telecom Sector 

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