Analytics at Oakbrook

Alongside the technology we create, analytics underpins and informs every decision we make

Advanced Analytics

We've built some incredibly sophisticated machine learning and AI algorithms for use across the business including:

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Billions of data points analysed to produce the very best predictions

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Structured and unstructured data from multiple sources all amalgamated together

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Advanced credit risk models used extensively across the business

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Natural language processing used to identify customers that may need additional support

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Complex machine learning models deployed in operations to enhance the strategies

Our latest innovation, centres around self-learning models and developing the capability to move at pace and deploy scorecards quickly. We all know that scorecards degrade over time, and historically the development of scorecards could take up to 3 months.

However, by combining our bespoke O6K technology, our high performing data platforms, and our capability in automated machine learning, we’re developing the ability to turn 3 months into 30 minutes.

Clearly the benefits of having models that constantly improve themselves based on live data are clear:

  • Better lending decisions
  • Scorecards which are continuously improved and optimised
  • Better customer outcomes

How we're using Open Banking

We see the data that Open Banking technology provides as crucial in both the current and future lending market.

Since its launch, Open Banking data has been fundamental to our credit strategy. We’ve even won awards for it.

There’s no denying the benefits it brings for consumers and for lending businesses, who are able to enhance their responsible lending strategies as a result of making decisions based on a consumer’s most up to date financial information.

Since we wrote our first loan using Open Banking data in 2018, we’ve continued to embed it into our high performing analytical culture, seeing it as a vital way in helping us to provide simple, affordable products personalised to our customers.

We’re using the rich data, we get from Open Banking, in lots of different ways. While other lenders may use Open Banking data to validate income only, we have numerous strategies including:

  • Income validation
  • Identifying income shock and stability
  • Building out a personalised view of a customer’s expenditure
  • Validating bank account information
  • Employer and sector validation
  • Understanding which repayment date will be the most successful for a customer
  • Identifying vulnerable customers

Ways of Working

We’re a lending business driven by our Vision – to 'change lending for the better' – and analytics is a crucial capability that is going to help us get there. Analytics is integral to our culture, our ways of working and our successes. This fundamental belief that analytics needs to be woven into everything we do comes from the top – from our board, our MD and the Senior Leadership Team.

We know that success will come from being able to make the right data-based decisions, at pace, in a sometimes volatile and fluctuating market and by empowering our teams to be their best and achieve their life's best work.

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