FIDO Solutions provides a credit scoring solution that integrates with an existing provider’s client-facing mobile application. The mobile application can be intended for use on personal smartphones or point-of-sale kiosk devices. Using data collected only from independent sources, the proprietary risk models can improve risk performance and reduce time and cost of scoring. Providers can use FIDO to reduce credit losses, increase approval rates as well as expand to new customer segments. The risk models are suitable for use alongside existing in-house underwriting procedure as well as a standalone risk score.
FIDO Solutions risk models use advanced risk modeling techniques to build and continuously tune the models. Beginning with the collection of data points from the applicant’s digital footprint, the data undergoes complex transformation based on deep insight derived from human and artificial intelligence contributions.