NF Innova & GDS Modellica - digital onboarding platform

NF Innova and GDS Modellica join forces to build a state-of-the-art digital onboarding platform

Press Release

GDS Modellica

15/09/2021

NF Innova has become the latest company to form a partnership with GDS Modellica with the aim of providing customers with the best digital experience

The Modellica Originations Engine (MOE) from GDS Modellica processes data gathered during the onboarding process and applies different credit management strategies. It then returns real-time decisions on whether or not to approve credit and under what terms and conditions

NF Innova has become the latest company to join GDS Modellica in their endeavour to deliver the best customer experience. NF Innova’s primary goal is to help their clients take control of their digital growth with greater agility, progress through their digital transformation and embrace the future of banking in their businesses.

NF Innova is a member of the New Frontier Group and has a sole focus on digital banking, providing a unique banking solution to financial institutions by offering a rich, seamless customer journey on any digital channel. GDS Modellica, meanwhile, brings its recognised experience and expertise in helping hundreds of credit organisations to manage risk successfully, using solutions tailored to their individual needs. Together, the two companies seek to provide a complete experience by enabling both new and existing customers to open accounts or apply for different products completely digitally. The aim is to offer a comprehensive and satisfactory experience using KYC (Know Your Customer) online verification and either full or partial process automation, thereby streamlining the process and saving time for the customer.

This integrated platform from NF Innova and GDS Modellica will cover everything that financial institutions need with regard to design, development, implementation and continuous optimisation. NF Innova’s solution provides a smooth onboarding process whilst GDS Modellica focuses on incorporating backend processes by implementing credit risk policies and strategies to guarantee an effective, real-time, fully automated ID verification process.

GDS Modellica has already developed the Modellica Originations Engine (MOE), an automated system that fits perfectly within the architecture of NF Innova’s digital platform. The MOE processes all the data collected during onboarding, along with information from credit agencies, and it then applies credit strategies, policies and scoring to manage credit risk as defined by the financial institution. The engine returns a decision in real time about whether or not to approve credit, along with the associated terms and conditions.

The MOE can adapt to different scenarios and types of processes, making it possible for users to apply different admission policies and monitor credit risk simultaneously with complete flexibility and ease of use. According to Antonio García Rouco, managing director of GDS Modellica, the MOE’s functionalities include “the ability to implement credit management strategies, calculate variables based on raw data, carry out population segmentation according to risk, value and tendencies, establish individual rates and offers, monitor high-risk users and carry out simulations. It is fully compatible with PMML, and it is a reliable, flexible, high-performance solution for setting criteria and making decisions.”

This strategic partnership between NF Innova and GDS Modellica seeks to combine the competitive advantages and resilience of both companies within the new financial ecosystem. This relationship will forge, strengthen and consolidate bonds whilst creating new business opportunities, opening new markets, boosting performance and improving the customer experience. Ultimately, comprehensive, effective leadership leads to greater customer loyalty and, as a result, greater profits.