Credit Model Engine for Underwriting the Underbanked - ON-204

Preferred Disciplines: Software, Data Engineering and Economics, Finance (Masters, PhD or Post-Doc)
Company: Anonymous
Project Length: 4-6 months (1 unit)
Desired start date: As soon as possible
Location: Toronto, ON
No. of Positions: 1
Preferences: The best candidate for the job – but ideal if they are within the GTA or Ontario

About the Company: 

Our vision is to provide innovative financial services to those who most lack it, and help them build for a better financial future. We are creating a loan product that helps customers get access to credit when they need it, while also helping them build savings.

Project Description:

Over 2 million Canadians are considered high-risk credit consumers to traditional financial institutions, and thus are underbanked. The opportunity lies in understanding that a big percentage of this population can be better served by alternative financial services. Our goal is to create a robust credit model which we can use to better determine these consumers’ creditworthiness, and from which we can then use to predict a successful outcome (repayment of credit). With the rapid advancement of new technologies (such as AI, Big Data, Machine Learning, etc.), the possibility in creating such model has become more possible today than ever before.

Research Objectives:

Creating a credit model for high-risk and non-prime consumers using different technologies and alternative data that can be plugged into a financial software for automated decisions on loans and credit applications.

Methodology:

  • Understanding of target consumer on a hollistic level (i.e demographics, psychographics, motivations, behaviours, needs, wants, etc.).
  • Understanding the current economic and credit environment to determine what can be used and applied, and what can be enhanced or substituted for.
  • Understanding the current digital landscape to determine the best use of technologies for the job, or a combination thereof.
  • Accessing current, historical, traditional and alternative data to test the different hypothesis in creating such model.

Expertise and Skills Needed:

  • Economic and Statistical Modeling
  • Credit and Finanical Risk Management
  • Psychology and Behavioural Science
  • Data Sciene and Analysis, and the technologies used therein (Python, R, etc.) 

For more info or to apply to this applied research position, please

  1. Check your eligibility and find more information about open projects
  2. Interested students need to get the approval from their supervisor and send their CV along with a link to their supervisor’s university webpage by applying through the webform.
Program: