A scorecard from SAS helps a large non-profit microloan provider in the US, Accion Texas-Louisiana, speed loans to small business owners who don’t qualify for traditional loans. With SAS Desktop Data Mining for Midsize Business, Accion has also reduced the delinquency rate by 76% and loan restructuring rate by 64%.
SAS helped Accion create a scorecard that halved the number of loan applications requiring underwriter review – the remainder are automatically approved or denied. Also, loan officers can now prepare an application in only 30 minutes compared to four hours, and loan approval times have plunged from two weeks to three days.
“The scorecard gives us the information needed to manage risk, increase our efficiency and provide faster turnaround times for our customers,” said Janie Barrera, Accion Texas-Louisiana president and chief executive officer (CEO).
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.