Finovate Demo Video Archives

Presenter Profile:

How they describe themselves: Lokyata digitizes and automates credit decisioning for auto and consumer lending.

Lokyata’s deep lending and credit risk experience, combined with a robust data science practice, pragmatic approach to data strategy, and scalable AI-driven platform deliver measurable results in increased loan approval rates, lower default rates, and improved financial margins.

Lokyata’s platform can be provided directly to banks, credit unions and alternative lenders and can be easily integrated into LOS and fintech applications to extend their capabilities.

How they describe their product/innovation: BankAnalyze assesses the applicant’s bank statements, then automates a credit decision recommendation based on weighted rules configuration + Lokyata score that we create in collaboration with the client.

Leveraging borrower-permissioned data creates a more accurate, up-to-date picture of a borrower’s credit. Doing so can help banks more safely lend to all borrowers – especially to “near prime” borrowers – without taking undue risk.

We like to say that BankAnalyze “primes” near and subprime borrowers.

Product distribution strategy: Direct to Business (B2B), Through financial institutions, Through other fintech companies and platforms, Licensed

Contacts:

Bus. Dev. & Press: J.D. Crouch, Director of Business Development, jd@lokyata.com