Instantor launches tech education platform
Swedish fintech, Instantor, has launched an education platform to help credit risk professionals understand the operational benefits of machine learning, reports Jane Connolly.
Risk Rollers aims to educate financial institutions about the advantages machine learning can bring to credit risk management processes.
Earlier this year, Instantor published a report stating that 44% of European finance professionals did not understand how machine learning could benefit their company’s operations.
Instantor claims that the implementation of machine learning can cut costs by up to 25% and increase the bottom line by 27%.
“Identifying these findings prompted us to launch the educational platform to contribute to the United Nations Quality Education Goals for Sustainable Development,” says Instantor CMO, Raiha Buchanan.
She adds: “Launching the platform is a new step towards promoting lifelong learning. Inclusive education is one of the most powerful tools to achieve the Global Goals, as understanding technology and the jargon associated with it is becoming increasingly essential since technology is the biggest game-changer today.”
Instantor’s CEO Simon Edström states: “We want to unleash the opportunities being opened up by the Second Payment Services Directive (PSD2) and the implementation of machine learning techniques to support the fair treatment of consumers in the finance industry. By facilitating this platform, we can educate and empower credit risk professionals and support them to democratise the financing system.”
The launch of Risk Rollers is the continuation of an educational campaign named, ‘Risk Rollers: How Low Can You Go?’ which helps credit risk managers understand how to accept more loans at less risk.