Financial Services and Insurance Sector
Praelexis has since its inception been deeply immersed in the FSI industry. We have developed domain expertise through partnering with industry experts.
Praelexis devises solutions for challenges in the FSI industry. We have a proven record of providing tools and models to our clients to assist in automation, prediction and interventions over the whole value chain of banking and insurance.
Examples of solutions provided by Praelexis are:
CREDIT
The responsible granting of credit is one of the most profitable revenue streams of financial institutions, with interest on the loan amount being the credit provider’s reward for taking on credit risk. Credit risk modelling provides insight in the probability that a particular loan will be repaid. Credit risk profiles and credit scores reflect the status of an individual or business entity, but these profiles and scores can change rapidly over time as macro- and micro-economic circumstances change. Robust credit models mitigate the risk exposure of credit providers.
Praelexis Credit
A toolset with extensive functionality for the whole development cycle of credit modeling and deployment. This we call Praelexis Credit and more information is available on the product page.
Loan Granting for Individuals
Our credit risk and loan behaviour models calculate affordability with smart credit risk scores, net take home pay calculation and default on repayments prediction. Optimal remedies for loan defaulting are also recommended.
Loan Granting for Business
Our loan granting models combine data sources to calculate small, medium and micro-enterprises’ credit scores and predict loan behaviour.
CLIENT INSIGHTS
Client-centricity requires a dedicated interest in and deep understanding of the financial needs and behaviour of clients. We provide value by closing the loyalty loop and driving revenue.
Transaction Classification
The Transaction Classification Engine utilises the latest in Natural Language Processing and classification techniques to gain insights on spending patterns, interests and life events, enabling personalised service.
Entrenchment and Retention
Utilising structured and unstructured data sources, our sentiment analysis and entrenchment models predict the probability for churn and trigger pro-active measures.
Best Next Action Prediction
Our Decision Engine triggers proactive measures, for example best next product promotion and best engagement channel recommendation.
Fraud Detection
Our fraud detection models and network analysis continuously learn from new fraud cases and recognise fraudulent behaviour like suspicious transactions, card swapping fraud or bank statement fraud.
RISK MANAGEMENT
Managing risk, curbing fraud and ensuring good governance and compliance is critical to the existence and sustainability of Financial Institutions.
Fraud
Our fraud detection models and network analysis continuously learn from new fraud cases and recognise fraudulent behaviour like suspicious transactions, card swapping fraud or bank statement fraud, including organised fraud.
Compliance
Our models support conformance with regulation (e.g. IFRS 9) for business operations. Significant changes in credit risk are detected and risk mitigation strategies are triggered on the basis of the respective quantitative, qualitative, and backstop criteria.
Forecasting Risk
Combining a variety of data sources, different scenarios can be forecasted. Risks are exposed and the complexities of a highly regulated environment are navigated. Our central planning models further assist in resource allocation and forecast budgeting.