Open FinTech Forum 2018

In this presentation, Bruce Brenkus, Chief Risk Officer at Spotcap will provide insight into the fintech lender’s approach to credit risk assessment using text mining and machine learning. Combining tried and tested credit assessment principles with innovative technology, machine learning credit models and skilled human analysts offers a more efficient take on business loans. Spotcap’s proprietary credit algorithm uses numerical bank account data, amongst other input, and blends in different text mining techniques to learn from transactions descriptions.

Bruce will discuss text mining and other advanced techniques, such as hierarchical clustering and ngrams, which in turn can be used to identify red flags and to develop new attributes in the modeling processes. He will also cover how to convert unstructured bank account data into a form of variables enabling users to derive meaningful insights.