Ailys develops a corporate CSS (Credit scoring system) model with NICE D&B
-Compared to the traditional statistical rule-based corporate insolvency prediction model, the prediction range is expanded and non-financial information is also used
- Expected to expand the credit market with timely services and new customized services through AI-based models
Ailys has signed a contract with Nice D&B through the 2021 AI Voucher Support Project to introduce an optimized machine learning solution DAVinCI LABS.
This year’s AI voucher support project supports the use of AI solutions and services for small and medium-sized enterprises and ventures that are seeking for introduction of AI technology by the Ministry of Science and ICT(MSIT) and Korea Electronics Association (KEA). We decided to develop an AI-based corporate insolvency prediction model by cooperating with Nice D&B.
In general, corporate loans have been considered an area where machine learning technology is difficult to apply compared to retail loans, due to the lack of data quantity and quality. There is an apparent need for AI models that are capable of analyzing even the variables of information outside the financial domain.
In addition, there lay a critical problem in the traditional model: taking preemptive measures is hard if the corporate bankruptcy prediction brings a ‘low danger of bankruptcy’ as the result. That was another reason why an alternative model was required to overcome this problem.
Accordingly, through this project, Ailys plans to develop a credit scoring model based on machine learning algorithms that utilizes various complex variables to detect insolvency possibilities in an early stage and additionally to take a preemptive approach to enter a post management system.
Nice D&B has been building big data for a long time for the growth of the credit information market, and through this project, they expect to enhance the reliability of corporate evaluation based on objective and fair evaluation standards. In addition, we aim to build the most outstanding AI-based corporate credit rating system by expanding the credit market with more timely services and new customized services.
Ailys, a technology company specializing in machine learning, developed an artificial intelligence solution ‘DAVinCI LABS’ and has curated real business use cases over the finance industry, for #insurance underwriting, credit scoring system (CSS), credit card issuance review, #fraud detection service (FDS), customer relationship management(CRM) and the marketing domain. Overseas, larger corporations such as Mitsubishi Corporation and Aeon Financial Group have adopted DAVinCI LABS as a standard platform for data analysis. Not to mention that DAVinCI LABS is actively utilized in general industrial fields such as manufacturing, distribution, and logistics. In detail, these fields consist of different tasks, all the way from demand management, target marketing strategy, credit scoring and to fraud detection.
The reason why Ailys was able to actively participate in this project was because it had experience in developing various models in the financial instruments as mentioned above. By taking advantage of the opportunity selected as the main body of this project, we will continue to focus our efforts on the practical application and expansion of domestic artificial intelligence technology.
