Carrington Labs, a Sydney-based provider of customised cash flow underwriting models and credit risk analytics, has formed a partnership with Taktile, a New York-based decision platform, to assist consumer and SME lenders in refining their credit risk strategies.
Carrington Labs’ models are designed to accommodate diverse data sources, including transaction-level data, credit bureau information, and behavioural insights.
This enables lenders to construct a more detailed view of borrowers’ financial circumstances, resulting in more accurate credit risk assessments.
The models also support the continuous monitoring of portfolio exposure, with the goal of increasing approval rates, optimising loan offerings, and reducing defaults.
Through the integration of Carrington Labs’ models into Taktile’s low-code platform, lenders can manage their credit decision workflows within a single system.
The platform is built to allow financial institutions to create, test, and iterate decision processes quickly, without requiring major development efforts.
“Every lender is looking to modernise their approach to decisioning, offer management, and monitoring,”
said Jamie Twiss, Chief Executive Officer of Carrington Labs.
“Taktile’s low-code Decision Platform enables our clients to deploy Carrington Labs models and tools quickly, while also giving lenders much better visibility and control over their process and product settings.”
According to the companies, the partnership is intended to simplify how lenders access and implement Carrington Labs’ models, enabling more rapid deployment without the need for significant technical changes.
The integration of these models with lenders’ existing business rules is expected to improve approval precision, provide more accurate estimations of default probabilities, and support the scaling of underwriting processes across different products.
“I’ve seen how tough it can be for lenders to not only build strong risk models but also connect them to flexible, automated decision workflows,”
said Maik Taro Wehmeyer, Co-Founder and CEO of Taktile.
“That’s why I’m excited about our partnership with Carrington Labs. Lenders can now directly integrate their sophisticated credit risk models into the workflows they build on Taktile, making it easier to develop inclusive, data-driven underwriting strategies and continuously improve them at scale.”
Featured image credit: Edited by Fintech News Singapore, based on image by user4894991 via Freepik
