Problem Statement
Big Friendly Bank (BFB) is a nationwide financial institution which provides banking solutions ranging from personal banking and wealth management, to Buy-Now-Pay-Later financing solutions for retail establishments.
In order to underwrite these Point of Sale (POS) financing solutions, BFB needs a way to quickly evaluate the creditworthiness of their applicants in a near real-time manner, as to not impact the applicant experience, or risk the sale for BFB retail customers.
Determining creditworthiness of BFB personal banking customers is easier, as the necessary information is accessible within BFB’s current systems. However, for financing applicants that are unknown to the bank, they need a way to quickly know the risk of giving them a loan. To do that, they have to work with credit bureaus to determine their creditworthiness.
The loan decisioning process, regardless of the type of applicant (known or unknown) must be fast, accurate, and reliable to keep the risk low for BFB.
Evaluation Criteria
- Problem Definition (10)
- Understanding of customer requirement (10)
- Identify components for problem solving (10)
- Architect (Design/ Pictorial presentation) (10)
- Depth of Information (5)
- Content Quality (10)
- Organization (Sequencing of elements/ideas) (5)
- Correctness in Assumption/Hypothesis (5)
- Recommendation to Company BFB (5)
- Development / Demo(25)
- Presentation Skill (5)