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Technology
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Technology
UNDERLYING TECHNOLOGY: WHY WE ARE THE BEST
Neural Networks and Credit Scoring
The method of evaluating the creditworthiness of a private or legal entity, applying for a credit and now referred to as credit scoring, was invented and used for the first time yet in the 1950-s. Ever since credit scoring has been increasingly used in the different areas of banking, especially in mortgage lending. Credit scoring is a statistical method that focuses on calculating the score of an applicant, or in other words, on rating the applicant based on any merits or risks related to the possible granting of a credit to this applicant. In calculating the score a number of different factors are normally used, such as age, social status, credit history, and others.
The advent of neural networks - trainable artificial intelligence-based algorithms - gave a great boost to credit scoring. Owing to their ability to train themselves on relevant past data, neural networks are able to establish a relationship between the different characteristics of a borrower and the possibility of default on the loan issued to him. Moreover, neural networks escalate the precision of such a forecast to a completely different level, as they are capable of discerning those subtle but important interdependencies that cannot possibly be monitored by any other methods or means.
Scorto's™ excellence in neural network software development is largely attributable to the numerous ground-breaking achievements of Alyuda Research Inc., from which the company emanates. Alyuda Research has always employed the most eminently skilled researchers and developers and has a proven record of success in a number of industries. The range of products, developed by Alyuda has been a resounding success, inrrespective of their purpose or specific application. Alyuda's forecasting solutions are used by a large and growing number of companies whose titles have long become household names or national legends. Alyuda Research Inc. also develops and markets the unique Tradecision neural network trading software, used and valued by a large number of professional traders throughout the world.
From its very inception, Scorto™ Inc. was conceived as a company that would enhance this inestimable scientific and intellectual potential by combining it with a deep knowledge of the banking industry to revolutionize the use of credit scoring at leading credit institutions. Today, we can confidently say that we have been a success in meeting this great challenge. And evidence of this our range of state-of-the-art products that can benefit greatly any financial institution that will select to use them.
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