Academic journal article ABA Banking Journal , Vol. 91, No. 11
As e-commerce explodes, so too will online fraud, experts predict, as saying "yes to anybody, from anywhere" opens the field to cyber cheats. To meet the challenge, bankers need tools that can support adaptive and accurate credit scoring. Neural Technologies, New York City, provides real-time support for online credit decisions with its Decider e-Commerce product targeted to banks, mortgage lenders, credit card companies, insurers, and other financial institutions.
The company, with headquarters in the U.K., had more than ten years financial services industry experience before launching its U.S. operation this summer. Having built the backbone for Standard and Poor's recently launched CreditModel technology, Neural Technologies is now talking to major U.S. banks to secure burgeoning e-commerce ventures.
"People expect fast decisions on the Internet," notes Nick Ryman-Tubb, president and CEO of Neural Technologies. "The trouble with that is that banks can't afford the increased risk of fast decisions made with inadequate information. Often they're forced to rely on rigid decisioning models that badly generalize about an individual's ability to meet payments." Decider incorporates neural networking technology to discern meaningful patterns from a slew of client (and general consumer behavior) data, while also managing to identify very specific "cut-off points" in assessing any given consumer's ability to handle a specified debt load. …