Tag: performance

Performance reports are foundational and are one of the key elements of a sound and prudent risk management framework. Learn how effective reports evolve.

To maximize limited marketing spend, lenders will need to be more prescriptive to increase response rates on fewer delivered offers.

Artificial intelligence (AI) has long been a topic that’s confounding and downright worrisome to financial institutions. Read more!

By: Kari Michel Are you using scores to make new applicant decisions? Scoring models need to be monitored regularly to ensure a sound and successful lending program. Would you buy a car and run it for years without maintenance -- and expect it to run at peak performance? Of course not. Just like oil changes or tune-ups, there are several critical components that need to be addressed regarding your scoring models on a regular basis. Monitoring reports are essential for organizations to answer the following questions: • Are we in compliance? • How is our portfolio performing? • Are we making the most effective use of your scores? To understand how to improve your portfolio performance, you must have good monitoring reports. Typically, reports fall into one of three categories: (1) population stability, (2) decision management, (3) scorecard performance. Having the right information will allow you to monitor and validate your underwriting strategies and make any adjustments when necessary. Additionally, that information will let you know that your scorecards are still performing as expected. In my next blog, I will discuss the population stability report in more detail.