4most has been announced as a finalist for three categories for the Car Finance Awards 2019; Best Use of Technology, Game Changer and Best Innovation, based on their outstanding development and implementation of a machine learning (ML) based solution.
The submissions showcased 4most’s innovative approach to using advanced analytics to achieve increased automation of the application process for a motor finance provider.
The submissions described the delivery of a flexible and customisable R/Python based solution, which resulted in a significant uplift in automated decisions, increased consistency and improved resilience to the biases and oversights that may result from manual decisioning. These impressive results were achieved through the use of Columbus - 4most’s model explorer tool – which allows for different degrees of model evaluation, including those at application level. This capability makes decisions fully auditable, and ready for sign-off and ongoing monitoring.
Having invested heavily in this technology, 4most is confident Columbus can benefit other industries bringing similarly impressive results.
Fabrizio Russo, Head of Data Science: “We were aware of the challenges involved in fully integrating ML techniques in the decision process, but our efforts produced impressive results. We’re excited to have been shortlisted for these awards as we believe that the benefits of Columbus can be realised for a much wider audience by delivering a streamlined, efficient and auditable decision process; substantially reducing costs and ultimately enhancing customer experience.”
The full shortlist can be seen here (link below) and the winners will be revealed on 20 June at the awards ceremony in Nottingham.