Application scoring quantifies the risks, associated with loan applications, by evaluating the social, demographic, financial, and other data collected at the time of the application.
Application scoring facilitates customer acquisition decisions. Used in application processing systems, application scoring helps to automate the whole process of loan origination.
With Scorto application scoring solutions lenders are empowered to:
- make more efficient loan origination decisions;
- enhance control of risk exposure;
- automate borrower evaluation;
- expand your customer base without increasing credit risks;
- reduce your operational costs;
- decrease the time to make a loan decision;
- lets you easily adjust your accept/reject criteria.