DataRobot Case Studies Avant Democratizes Data Science with DataRobot

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	Avant Democratizes Data Science with DataRobot DataRobot

Avant Democratizes Data Science with DataRobot

DataRobot

Technology Category	Analytics & Modeling - Machine Learning Analytics & Modeling - Predictive Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Fraud Detection Predictive Quality Analytics
Services	Data Science Services
Challenge	Avant, an online lending platform, has been using data and machine learning to make smart loan decisions. However, as the company wanted to scale its business, it faced the challenge of maintaining the quality and sophistication of its analytics. The company needed a solution that would allow its analysts and business users to access data science tools that could be leveraged by the business teams. Avant was looking for a solution that was easy to use, statistically sound, supported by a reliable company, and simple to integrate with production systems. Read More
About Customer	Avant is an online lending platform that provides credit alternatives to middle-income consumers in the US and UK. The company offers access to unsecured personal loans ranging from $1,000 to $35,000 with funding as soon as the next business day. Avant has served more than 600,000 customers worldwide. The company also offers its technology solutions to bank and non-bank partners via its 'Powered By Avant' product to provide an innovative digital lending experience to their customers. Founded in late 2012, Avant has raised over $600 million of equity capital and originated over $4 billion of loans through the platform. Read More
Solution	Avant chose to use DataRobot's Managed AI Cloud offering, powered by Amazon Web Services (AWS), to allow its business analysts to perform data science work. This platform enabled the company to make a larger number of predictions faster, from the likelihood of receiving payments to marketing response to potential fraud. The DataRobot platform allowed Avant to quickly build models, perform analysis, and evaluate new data sources, saving the time of its data scientists. The platform also provided easy integration with Avant’s in-house production system through direct access to DataRobot APIs. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Machine Learning

Analytics & Modeling - Predictive Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Fraud Detection

Predictive Quality Analytics

Services

Data Science Services

Challenge

Avant, an online lending platform, has been using data and machine learning to make smart loan decisions. However, as the company wanted to scale its business, it faced the challenge of maintaining the quality and sophistication of its analytics. The company needed a solution that would allow its analysts and business users to access data science tools that could be leveraged by the business teams. Avant was looking for a solution that was easy to use, statistically sound, supported by a reliable company, and simple to integrate with production systems.

About Customer

Avant is an online lending platform that provides credit alternatives to middle-income consumers in the US and UK. The company offers access to unsecured personal loans ranging from $1,000 to $35,000 with funding as soon as the next business day. Avant has served more than 600,000 customers worldwide. The company also offers its technology solutions to bank and non-bank partners via its 'Powered By Avant' product to provide an innovative digital lending experience to their customers. Founded in late 2012, Avant has raised over $600 million of equity capital and originated over $4 billion of loans through the platform.

Solution

Avant chose to use DataRobot's Managed AI Cloud offering, powered by Amazon Web Services (AWS), to allow its business analysts to perform data science work. This platform enabled the company to make a larger number of predictions faster, from the likelihood of receiving payments to marketing response to potential fraud. The DataRobot platform allowed Avant to quickly build models, perform analysis, and evaluate new data sources, saving the time of its data scientists. The platform also provided easy integration with Avant’s in-house production system through direct access to DataRobot APIs.

Impact #1	Avant’s models and underwriting process are much more in tune with how consumers actually behave, making them more accurate than traditional risk or propensity models.
Impact #2	Data scientists at Avant are more focused on doing work that contributes to the business’ bottom line.
Impact #3	They more efficiently evaluate the impact of new data sets on existing models, quickly push new or updated models into production and easily visualize the results of those models.

Impact #1

Avant’s models and underwriting process are much more in tune with how consumers actually behave, making them more accurate than traditional risk or propensity models.

Impact #2

Data scientists at Avant are more focused on doing work that contributes to the business’ bottom line.

Impact #3

They more efficiently evaluate the impact of new data sets on existing models, quickly push new or updated models into production and easily visualize the results of those models.

Benefit #1	Avant has served more than 600,000 customers worldwide.
Benefit #2	Avant has raised over $600 million of equity capital.
Benefit #3	Avant has originated over $4 billion of loans through the platform.

Benefit #1

Avant has served more than 600,000 customers worldwide.

Benefit #2

Avant has raised over $600 million of equity capital.

Benefit #3

Avant has originated over $4 billion of loans through the platform.

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Overview

Avant Democratizes Data Science with DataRobot

Operational Impact

Quantitative Benefit