SCORISTA offers a credit scoring service tailored for non-bank lenders, utilizing advanced scoring algorithms and underwriting tools to enhance credit assessment accuracy. The platform addresses the challenges of high non-performing loans and fraud, enabling lenders to improve approval rates and streamline their risk management processes.
Funding
$130K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Non-bank lenders face challenges in accurately assessing credit risk due to limited access to traditional credit data and the unique characteristics of their customer base. This can lead to higher rates of non-performing loans and increased exposure to fraud, impacting profitability and sustainability.
Solution
SCORISTA offers a credit scoring and underwriting platform specifically designed for non-bank lenders, providing advanced tools to improve credit assessment accuracy and streamline risk management. The platform leverages proprietary scoring algorithms, verification plans, and underwriting tools to enable lenders to make more informed credit decisions. By utilizing SCORISTA, lenders can enhance approval rates, reduce losses from non-performing loans and fraud, and automate key aspects of their credit assessment workflow. The system supports individual scoring, scorecard development, and collection scoring, providing a comprehensive solution for managing credit risk across the entire loan lifecycle.
Target Audience
SCORISTA primarily targets non-bank lenders, including microfinance institutions, seeking to improve their credit assessment processes and reduce risk. The platform also caters to larger companies with existing risk departments, helping them to achieve desired KPIs and optimize resource allocation.
Features
- Individual scoring based on advanced algorithms for accurate credit risk assessment.
- Underwriting plan to calculate suitable loan options for various borrower profiles.
- Verification plan providing a step-by-step tutorial for underwriters to ensure thorough due diligence.
- Scorecard development kits for creating customized scoring models.
- Collection scoring (under construction) offering individual scenarios for effective debt collection.