Enova Decisions, an analytics and digital decisioning solution provider, has announced the launch of its new “decision flow starter kits,” a new tool that will enable companies to achieve such goals as improved detection of application fraud and smarter credit approvals.
According to a press release, the tool — launched in partnership with ID Analytics — was designed for subprime telecommunications providers, subprime credit card providers and unsecured subprime consumer lenders. The decision flows configure data covering nearly 100 percent of the U.S. adult population, pretrained machine learning models and business rules to maximize return on investment and allow businesses to detect application fraud in order to optimize approval decisions.
“No matter where a company falls on the digital transformation spectrum, there are always quick wins that can be achieved with optimized decision flows,” said Sean Naismith, head of analytics services at Enova Decisions. “Companies with little or no historical data or the analytics and technical expertise to build custom processes can use decision flow starter kits to jumpstart the digitization of operational business processes within their organization to improve key performance metrics.”
Clients benefit from a pay-as-you-go payment structure, as well as a “plug-and-play” integration through a simple API call, eliminating the cost and time barriers of building or integrating with platforms or data partners.
The decision flow starter kits also enable businesses with no analytics capability the opportunity to quickly boost their technology while also helping companies using unwieldy digital decisioning by quickly improving the speed and efficiency of their operational decisions.
“There is a genuine market need for platforms to turn data into actionable, real-time decisions. The Enova Decisions digital decisioning platform, through its ability to deliver results through smart decision flows that help clients harness the power of predictive algorithms and data, is well positioned to meet this demand,” said Senior Analyst Krishna Roy at 451 Research.