Open Banking Model Build

Vestigo were engaged by the lender to build a machine learning (ML) model that utilised Open Banking data alongside existing credit bureau data points. The model predicted the probability of default

The project included working closely with the lender to sample a suitable dataset for modelling. Our team also liaised with the credit bureau to provide referenced loan performance on the lender's rejects and not-taken-ups

We investigated several modelling options from the more traditional Logistic Regression to more complex approaches such as Neural Networks and Random Forests, to find the best model for the objective

The final model significantly outperformed the existing model that used credit bureau data alone. The outcome highlighted the way Open Banking data can complement traditional data points to achieve more powerful predictions