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Ben O'Brien

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News & Views / Jaywing wins at 2018 Credit Awards
20 September 2018

Jaywing wins at 2018 Credit Awards

We are delighted to share that Jaywing’s AI team won an award at the 2018 Credit & Collections Technology Awards.

At this year’s award ceremony, which honours high achievers within the credit industry, Martin Benson, our Head of AI and Martin Smith, our Head of Product Development together with key members of our team, collected an award for Technology Team of the Year for the development of their AI risk tool, Archetype. The award recognises that the team is at the forefront of AI and data science, driving business value from data and developing relevant technology that directly grows business opportunities for both Jaywing and its clients.

Jaywing was also a finalist for the Innovation in Credit 2018 and Credit Underwriting Solution 2018 awards, but we were pipped to the post by other worthy winners!

As lenders make the shift away from traditional statistical models, Artificial Intelligence (AI) technology and machine learning techniques are set to drive the next frontier for risk management. As the regulatory burden broadens and consumer expectations rise, lenders will need new ways of automating processes to streamline and manage credit risk while improving performance and making the best possible use of their data.

Research and advisory firm Gartner, identified machine learning as a top ten strategic technology trend and said businesses must find ways to actively leverage machine learning if they wish to gain competitive advantage.

Archetype leads the field in enabling lenders of all sizes make use of this transformative technology and solves the ‘black box’ problem around ‘explainability’ in the creation of models using AI, enabling the analyst to control the way the model behaves. It’s a genuine game changer for credit scoring and assessment.

Our team have many years’ deep experience in the credit industry, having built long-standing relationships at Jaywing and working with the likes of Lloyds Banking Group, Royal Bank of Scotland, Nationwide, Secure Trust Bank, Shawbrook Bank, Paragon Bank and all of the top 9 building societies.

Congratulations to all the Jaywingers involved in the creation of Archetype – a worthy win.