DZone

Nowadays, the most common problem of scoring is that not everyone can quickly interpret the results that the model produced. A complex algorithm examines dozens of factors in dynamics, and hardly anyone can immediately see and understand what it’s all about. This article describes an algorithm that explains in natural language the strengths and weaknesses of a business, which affects decision-making.

Why does a bank need it? They need it in order to increase the speed and culture of corporate communication and effective dialogue with the client. Banks had to implement new solutions post-factum and in a rush, which costs them a share of the market and was taken over by young and daring FinTech companies. In the eyes of ordinary people, a scoring system is a black box, and this fact does reduce trust in them. Upon being turned down, most clients go to the support service for explanations of what exactly the bank did not like and why the conditions for the loan are so tough.

Source: DZone