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CredoLab extends smartphone-based scoring to insurers

Vlad Poptamas

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CredoLab, a developer of smartphone-based digital scorecards for banks and non-bank financial institutions, is expanding into insurance credit scoring by making its smartphone credit scoring solution available to insurers and personal finance comparative websites worldwide.

Launched today, CredoInsure is an extension of the company’s current smartphone behaviour-driven credit scoring solution for banks, consumer finance companies, digital lenders, auto lenders and retailers. CredoInsure helps insurers analyse the creditworthiness of a customer in less than 30 seconds through a set of solutions that come in the form of a standalone white label solution, an API or as an additional characteristic in the client’s existing pricing engine. CredoInsure is targeted at insurers facing increasing customer acquisition costs, low persistency, and high number of lapsed premiums.

Peter Barcak, co-founder and CEO of CredoLab, said, “We see tremendous potential in using AI to help the insurance industry through smartphone behavioural data that can predict consumer repayment behaviour. Our technology helps insurers increase their product profitability in year one while also improving the number of paying customers over a longer period of time. We will also work with personal finance comparative websites that serve as platforms in pre-selecting and pre-qualifying leads for their insurance partners.”

CredoLab’s expansion into insurance scoring marks an organic move by the company into markets that remain significantly under-penetrated at around 2%, significantly below the global average penetration rate of 3.5%[1]. The company’s move into this space underscores an expanding middle class in need of personal, life and travel insurance products as their incomes rise and standards of living improve.

Currently operating across 15 markets worldwide, CredoLab will target the personal, life and travel insurance space in its existing Asian emerging markets of VietnamIndonesiaPhilippines and India. Last year CredoLab partnered with Singapore-based personal finance comparison website GoBear to extend its reach to the underbanked market in Southeast Asia through its Easy Apply smartphone app; allowing banks, financial institutions and lenders to extend personal loans, credit cards and insurance products via non-traditional smartphone-based credit scoring.

CredoInsure analyses over 500,000 features from a user’s smartphone, working in harmony with existing technology to connect the dots that traditional methods can’t. Via the use of artificial intelligence and proprietary algorithms, CredoLab turns mobile device metadata into highly predictive credit risk and anti-fraud scorecards. Users’ smartphone behaviour is tracked anonymously through their digital footprint.

 

SOURCE CredoLab

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Artificial Intelligence

Kountable CEO Talks with UNOPS Head of Global Innovation and Technology about Its Vital Role in Improving Supply Chain Access at BootstrapLabs AI Conference

Vlad Poptamas

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Photo source: bootstraplabs.com
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BootstrapLabs Applied Artificial Intelligence Conference featured entrepreneurs and innovators who shared the newest developments in the field of AI from research and business development to investing and business transformation.

One of several distinguished speakers was Chris Hale, CEO and Co-founder of Kountable, a managed marketplace for global trade, which focuses on collaboration in the supply chain, bringing together SMEs, multinational suppliers and end customers onto a single platform.

In a conversation with Jonas Svensson, Head of Global Innovation and Technology, Hale demonstrated the role Kountable can play in accelerating progress of the world’s biggest organizations towards equipping people for success in underserved markets.

Kountable focuses on aggregating the demand side in trade by partnering with high quality entrepreneur owners of small and medium enterprises (SMEs), bringing access to world class goods to underserved markets and accelerating progress towards the United Nations’ Sustainable Development Goals (UNSDGs).

“The Global South is home to some of the fastest growing economies on the planet, despite being challenged by a general lack of traditional infrastructure, scarcity of information, trade frictions, political and currency risks or even corruption,” said Hale.

“Nevertheless, the benefits to bringing the next billion people into the global trade economy outweigh the risks and massive investments are being made in infrastructure, healthcare, IT, and transportation by governments, and other global organizations like the UN, Red Cross, World Bank, The Gates Foundation, or Buffet Foundation.”

Kountable is making this possible by building a data acquisition, normalization, and scoring platform that measures the behaviors of the best trades and their traders in these emerging markets. With unique data describing the last mile of the supply chain and unique data on the traders in these developing markets, Kountable is building behavioral analysis for historical and live-updating trader behaviors, NLP to analyze the type of goods being requested/provided, matching algorithms to identify best-fit for traders and trade opportunities, time-series analysis on historic FX rates and fluctuation patterns, image recognition to automatically recognize and categorize key documentation, as well as SNA to assess reliability and competency of traders and buyers without traditional “scoring” mechanisms.

“We’re leveraging machine learning and artificial intelligence to help us find, resource, train, grow and promote these traders who are generally small and medium enterprises (SMEs),” said Danielle Russell, Head of Product at Kountable. “These traders are the engines of growth in these rapidly growing economies and connect the largest buyers in these economies to the top suppliers and brands in the world and are literally the point of access to global commerce for their respective countries.”

 

SOURCE Kountable

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Artificial Intelligence

BMC Named A Strong Performer in Intelligent Application and Service Monitoring by Independent Research Firm

Vlad Poptamas

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BMC, a global leader in IT solutions for the digital enterprise, today announced that Forrester Research Inc. recognized the company as a Strong Performer in The Forrester Wave™: Intelligent Application And Service Monitoring, Q2 2019. BMC received the highest score possible in the product innovation road map criterion.

According to the Forrester Wave, “BMC Software has continually advanced its product portfolio over time through organic innovation and acquisitions. Recent releases have introduced AI/ML-driven monitoring for data center and multicloud environments and rebuilt the solution from the ground up in a modern, portable, and scalable architecture leveraging containers. This allows the product to deploy into a number of environments (e.g., hybrid cloud or on-premises) to meet the needs of a large cross-section of customers.”

“We believe that the TrueSight platform’s position as a strong performer in this Forrester Wave reflects the capability of the solution to deliver robust, enterprise-class service and application-aware monitoring,” said David Cramer, President, Digital Service Operations, BMC. “In addition, earning the highest score possible in the product innovation road map criterion validates, in our opinion, our ongoing strategy to both deliver more advanced analytics and intelligent automation capabilities into the TrueSight platform, as well as continuously modernize our solutions to make them faster to deploy, easier to manage, and provide more rapid time to value for our customers.”

The BMC solution evaluated in this report, TrueSight Operations Management, offers a holistic monitoring and event management solution that ingests data, events, logs, and metrics from many sources. It applies machine learning and advanced analytics combined with application and service aware context to help IT Ops teams predictively find and fix problems faster to reduce risk, increase efficiency, and drive down costs across IT Ops processes.

“BMC Software’s TrueSight suite will assuredly benefit enterprises that are starting their journey into modernizing their applications yet also have a large number of legacy and commercial off-the-shelf (COTS) systems to support,” stated the Forrester Wave.

In this report, Forrester also recommended that customers should look for IASM solutions that offer ‘intelligent root cause analysis and remediation’. The TrueSight platform helps customers significantly reduce time to identify root cause and remediate issues faster with advanced correlation of millions of operational data points and log analytics deployed across complex infrastructure and application environments.

Digital transformation is forcing IT organizations to reconsider how to ensure infrastructure and application performance. Growth in complexity of IT environments and data volume that IT Ops teams need to manage makes maintaining the health and performance of infrastructure and applications very difficult. Intelligent monitoring tools are needed as part of a holistic IT Operations Management (ITOM) strategy to minimize costs without compromising the health and performance of increasingly complex, diverse infrastructure and applications.

“The artificial intelligence is really going to help us move from the reactive service model to proactive, and ultimately to predictive, where we’ll be able to see signs that there’s an impending failure and maybe remediate it before it happens, really saving our customer a lot of downtime. Without the TrueSight solution, we have no way of getting there,” said Chris Adams, President and Chief Executive Officer, Park Place Technologies.

Forrester Research employed a rigorous process to create the Forrester Wave. Its evaluation of this report included a review of the 13 most significant vendors in the IASM market across 29 criteria.

To read the Forrester Wave™: Intelligent Application And Service Monitoring, Q2 2019 report, visit here. The report is available to Forrester subscribers or for purchase.

 

SOURCE BMC

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Artificial Intelligence

Kavout Releases K Score for United Kingdom and Germany Stock Markets

Vlad Poptamas

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Kavout announced today the launch of K Score for the United Kingdom and Germany stock markets. Used by buyside firms, K Score is a Quantamental stock rating score of 1 to 9 that generates predictive analytics using AI (artificial intelligence) and machine learning. K Score serve as buy/sell signals, or as an effective input to investment firms’ privately developed models.

K Score are now available for publicly traded companies included on UK’s FTSE 350 and FTSE 100, and Germany’s HDAX and MCSI small-cap ETF. This is an expansion on the K Score current availability for stocks traded on the US exchanges, and A-share stocks on the China market.

“K Score has been well received by forward-looking quantitative and fundamental investors,” said Kavout’s Chief Commercial Officer, Isabell Sheang. “Our mission is to enable more investors globally to take advantage of AI solutions, and to find an edge. The decision to make K Score available for the UK and European markets aligns well with our expansion roadmap.”

K Score are ratings built by the Kavout Intelligence (KAI) engine. By taking in fundamental data, pricing signals, technical indicators, and alternative data, our machine learning models and algorithms rate and rank stocks between 1 to 9. A higher K Score assigned to a stock indicates a higher probability of outperformance over the next 1-3 months, whereas a lower K Score indicates a lower probability of outperformance.

Those interested in finding out more about K Score for markets in US, ChinaGermany and United Kingdom, please contact marketing@kavout.co.

 

SOURCE Kavout

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