OVERVIEW
Dataware Tech, a big data and analytics company, is proud to showcase a transformative project recently completed for a leading consumer finance company. Our client sought to enhance their data collection and analytics capabilities to better understand their customers’ repayment behaviors and, ultimately, to offer tailored financial solutions.
CHALLENGE
WB Solutions faced challenges in structuring and analyzing repayment data, which limited their ability to provide customized payment plans and accurately assess creditworthiness. They required a robust solution to streamline data recording and leverage this data for insightful analytics and personalized offerings.
SOLUTION
Dataware Tech designed and developed a bespoke invoicing solution with a custom payback structure. This solution enabled our client to meticulously collect and record data on customer repayment behaviors.
By implementing advanced analytics, the solution positions the client to develop a comprehensive credit score system tailored to individual customer profiles thereby enabling WB Solutions to provide customized repayment plans.
Key components of our solution included:
- Mobile friendly web-based invoicing solution with inventory that has standard payment plans and the ability to generate custom payment plans.
- Restructured dataset: Data collected in a manner that builds a foundation to derive repayment behavior of customers.
- Credit Scoring Algorithm: A dynamic credit scoring model built on collected data to be trained to offer personalized payment plans.
RESULTS
The implementation of Dataware Tech’s invoicing solution has yielded significant benefits for our client:
- Enhanced Data Quality: Accurate and comprehensive data collection on repayment behaviors, providing a rich dataset for analysis.
- Personalized Financial Products: Ability to offer customized payment plans based on individual repayment histories, improving customer satisfaction and retention.
- Improved Risk Management: Development of a sophisticated credit scoring system to better assess creditworthiness and manage financial risk.
- Operational Efficiency: Streamlined invoicing processes, reducing administrative overhead, and increasing productivity.
- Strategic Insights: Data-driven insights into customer behaviors, enabling the client to refine their product offerings and marketing strategies.
Testimonial
“We have developed an excellent partnership with Dataware, whose dedication to our web application and invoicing system has been remarkable. We greatly appreciate their attention to detail and their creative approach in bringing our new exhibit to life online.”
- William Osei – CEO, WB Solutions
CONCLUSION
This project exemplifies Dataware Tech’s commitment to delivering innovative, data-driven solutions that empower our clients to make informed decisions and achieve strategic goals. By transforming the way our client records and leverages repayment data, we have positioned them to offer more personalized and effective financial solutions. We are proud of the success achieved and look forward to continuing to drive innovation in the financial services industry.
CONTACT US
Discover how Dataware Tech can revolutionize your business with our advanced data and analytics solutions. Contact us today to learn more.
Dataware Tech: Your Business enabler
Dataware is a tech company made up of creative minds on a mission to assist organizations in Africa gain actionable insight from data for strategic decision making on the go.
