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PRODUCT HACKATHON AT YODLEE


I had participated in Product Hackathon at YODLEE on 26-JUL-2017.
The problem statement given to the participants was to understand  the CIBIL system of credit rating in India and find out  the limitations of CIBIL system. 

 Found following issues with the CIBIL system 
CIBIL scoring 

  • is heavily focused on past loan payment history 
  • is outdated 
  • provides a Limited view of a Consumer's actual financial condition now 
  • ignores the fact that the current data can provide more accurate view of consumer's financial status 
I  had to come up with a Solution which overcomes these  problems associated with the CIBIL based rating system.

 Had proposed a Solution as RUNTIME LOAN DEFAULTER DETECTION SYSTEM. It was a cloud based solution. After a bank loan is provided to the eligible customers, bank can continuously monitor the financial health of the customer. Data is collected from Bank statements, Credit card statements and credit card payment history. 

 Data is collected from multiple banks where the customer is dealing with( different banks for Savings bank account, Home loan account, Credit Cards, Vehicle loan etc). 

This data is analysed on the cloud and flags are raised for following scenarios or more similar scenarios

 1. Balance is less than a certain threshold value at the end of the month

 2. Customer  delays Credit Card payment 

 3. Customer delays the EMI payment 

These and similar scenarios might indicate that the customer's financial health might not be good and he is liable to default on loan payment.

Refer to the slides at this location


HACKATHON-SLIDES


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