At last week’s Credit & Collections Technology Awards, Jaywing won the award for ‘Customer engagement solution’ and secured a finalist spot in the ‘Machine learning in credit & collections solution’ category. Having previously been awarded ‘Technology team of the year’ (2018), ‘Innovation in credit’ (2019), ‘AI in credit & collections solution’ (2019), ‘Innovation in credit’ (2020) and ‘Anti-fraud solution’ (2021), this latest award represents 5 consecutive years of Jaywing winning at this prestigious event.
The ‘Customer engagement solution’ award highlights Jaywing’s work in streamlining a lender’s onboarding processes. Using Jaywing’s AI-powered modelling software, Archetype, to increase automation without losing the high levels of customer service for which the company are known, our experts generated a 17% uplift from the Risk Navigator score for mortgage loans and an incredible 200% for the commercial loan populations.
These improvements in decisioning capability, combined with more sophisticated valuation and affordability strategies will transform the lending journey for customers. When implemented alongside the other changes to the acquisition system, the Archetype model is set to improve the time an average application takes by over 40% - this is expected to have an incredible impact on conversion and EBITDA.
The finalist position in the ‘Machine learning in credit & collections solution’ category recognises Jaywing’s Data-Driven Attribution Model which provides an accurate, impartial and incredibly powerful mathematical modelling process that attributes value to different touchpoints in the debt collection process. The probabilistic model ensures that collections strategies can maximise profit from each individual customer, minimising losses for certain sub-populations whilst optimising the return to normal spending patterns for others.
Ben O’Brien, Managing Director at Jaywing, comments
“At Jaywing, we always strive to develop new solutions and technologies that offer our clients a significant commercial advantage. It is fantastic to see our consulting experts and specialist tools being recognised by our peers, particularly, Archetype, our fully transparent and explainable AI modelling tool, and Jaywing Attribution, our machine learning solution underpinned by 20 years of data-science expertise.
We are so proud to have won the ‘Customer Engagement Solution’ category at the Credit & Collections Technology Awards and are looking forward to producing more award-winning work for our clients.”