Finity announces partnership with Earnix

Finity News

Finity is delighted to announce a new partnership with Earnix, a global provider of advanced Artificial Intelligence (AI)-driven rating, pricing, and product personalization solutions for insurance and banking.

Today, pricing loans is a complex, arduous exercise due to the extremely varied risk profile of each buyer and the large variability in acceptance rates across different customers. This partnership will reshape the way loans are priced and sold through bringing advanced analytics, capable of ingesting risk-based prices (RBP) as well as measures of predictive portfolio performance as part of the overall pricing process to Australia and New Zealand.

According to Finity Principal, Ruwan Wijetunga, “Our partnership with Earnix has created a unique product and pricing solution specifically tailored to Financial Institutions. This will take their pricing and personalization capabilities into the digital world, enabling them to target the customers they want. Any financial services organisation that lends money from home loans to personal loans and auto loans can now develop risk and value-based pricing with state-of-the-art machine learning techniques, at speed without compromising on accuracy.

“Financial institutions offering loans need to consider that one of the downsides of not upgrading their systems is substantial latency in providing clients what they want at the time and price they want it. Our partnership with Earnix will provide a unique service to the market to mitigate these types of risks.”

Most recently, Finity and Earnix completed an engagement with one of Australian’s principal auto financiers. The engagement required the Earnix platform and Finity’s business transformation and strategic pricing expertise to implement RBP models which is fast becoming almost a necessity to succeed financially. Further demonstrated by the client achieving double digit growth since this engagement.

Be'eri Mart, Head of Global Banking at Earnix, said: “For leading financial institutions the key is knowing when to take advantage of the new technologies to drive product and service enhancements, improve financial performance, and accelerate speed to market which is what this partnership stands for and will deliver on.”

Finity has an impressive track record of using data with industry leading AI and machine learning techniques coupled with financial services knowledge to help clients solve business challenges and deliver exceptional customer experiences. The Earnix solution allowed the embedment of AI and machine learning into critical business processes, whilst ensuring governance and compliance, making it the perfect choice complementing the client’s existing risk models delivering much better pricing capabilities.

Finity Banking & Finance team

Combining 30+ years’ experience in banking and finance with our deep capability we have helped hundreds of business leaders navigate complex challenges and bring clarity to their decision making. Heavily underpinned by data science and analytics, our advice is end-to-end from data governance to policy, process and implementation to ensure you extract the maximum value from your data assets to meet your evolving customer needs and thrive in a rapidly changing industry.