Acordo Certo Reduces Consumer Debt in Brazil with H2O.ai
"Driverless AI is not only easy to use, but it is easy to get results. We have reduced the time to build and deploy models from about one week to a few days. This is massive for our team. We have also improved the predictive accuracy of the repayment model to over 76% Consumers and creditors alike are reaping the benefits of our unique AI debt scoring models."Andre Monteiro Founder and CTO of Acordo Certo
Overview of the Challenge
Consumer debt was rising in Brazil, and it was becoming challenging for both consumers and debtors to find solutions. The target market of debtors and the ensuing volume of data to be analyzed were both large and therefore, challenging. Acordo Certo had a small team of data scientists, who were using traditional methods to collect and analyze data, as well as to build and deploy predictive and scored models. However, due to the large database of customers, there was a need to increase the agility of model development and accuracy, as well as improve overall trust in AI by making the results of machine learning algorithms transparent to business partners, such as retailers and banks.