Minimising business risks on a solid data basis
Assessing risks better
Making customers’ financial data usable
The limited use of available information and advanced analytical techniques prevents the optimal use of data to make informed decisions. Without structured risk analyses, decisions are more prone to subjectivity and cognitive bias.
Full insight into the transaction and account data of debtors or applicants could make risk assessment much easier – but unfortunately this information is not readily available. Risk Insights leverages comprehensive, real-time financial data to offer dynamic, accurate risk assessments for informed decision-making across industries. Our solutions help to identify applicants and debtors and provide you with clarity about their financial options. Base your business decisions on a solid foundation of your customers’ financial data!
Available in the following countries:
Germany
Austria
Iberia
+40%
Accuracy in risk assessment
30%
Reduction in operational costs
10x
Faster risk decisioning
Common pain points with traditional credit bureaus
Weaknesses of Traditional Risk Assessment: Time, Errors, Data Gaps
Traditional methods
are time-consuming and error-prone
Credit bureaus
a common source of information, are usually unable to provide such information based on financial data
Full insight into the transaction and account data
of debtors or applicants could make risk assessment much easier – but unfortunately this information is not readily available.
Outdated data, limited data points, lack of accuracy and lack of dynamism
these are the weak points of the information that traditional credit agencies usually provide.
Enhanced risk decisioning by real-time transaction data analysis
With our risk insights service, customers can enhance credit checks by utilizing up-to-date information about applicants’ risk behavior and spending habits. This information is derived from real-time transaction data analysis. As a result, customers can offer end-users a swift, hassle-free experience through a seamless, fully digital application process.
What the Qwist solutions can do for you
- The Risk Report can be fetched for one or several accounts of the end-user. Depending on the use case, the risk report can be provided as a one-time report or on an ongoing basis, which provides our customers with the maximum of Flexibility.
- Ongoing Assessments: Continuously monitor financial stability with real-time updates, ensuring ongoing risk assessment for up to 180 days without user involvement
- 360° Multi Account View: Obtain comprehensive risk insights by analyzing one or all selected accounts collectively, providing a holistic view of financial health
- Backed Insights: Deliver actionable insights linked directly to specific transactions, enhancing transparency for customers and end users and enabling informed decision-making
Banks, Financial Institutions and Lending Services:
Optimize lending decisions by leveraging real-time actionable insights to reduce default rates and tailor interest rates based on detailed assessments of applicants’ financial behaviorsWealth Management Firms:
Improve investment advisory services with deep insights into clients’ financial behaviors, aiding in personalized risk management strategiesInsurance Companies:
Utilize Risk Insights to set appropriate premiums, evaluate policyholder risks
