Revolutionizing Risk Management: Atradius and Temenos XAI Collaboration Wins Prestigious Fintech Innovation Award

Atradius, one of the global leaders in credit insurance and risk management solutions, has won the prestigious IBS Intelligence Global Fintech Innovation award for Best Risk Management Implementation in the Best Adoption of Tools and Best Practices category. The company was recognized for its innovative utilization of artificial intelligence and machine learning using Temenos Explainable AI (XAI) to reduce risk and improve the customer experience.

Atradius offers customized services that assist small, medium, and large enterprises in safeguarding themselves against risk from their debtors. With the aim of reducing risk and improving the customer experience, Atradius won an award for its use of Temenos’ Explainable AI to analyze credit applications. The tool automates manual workloads and reduces claims, resulting in reduced risk while powering growth.

Tailored services for enterprises to protect against debtor risk

Atradius offers credit insurance solutions that enable businesses to trade with confidence both at home and abroad. Its services include credit insurance, debt collection, and surety bonds, as well as direct financing and other trade finance products. With a global presence in over 50 countries, the company provides protection against payment defaults and insolvencies to help its clients avoid financial losses.

Awarded for the Use of Temenos’ Explainable AI in Credit Application Analysis

Atradius won an award for its innovative use of Temenos’ Explainable AI in credit application analysis. The tool has enabled Atradius to automate manual workloads that are typically associated with credit application analysis, thereby reducing claims and risk. The solution plays an integral role in reducing risk while powering growth.

Improving customer experiences and strengthening credit products

With Temenos’ XAI, Atradius and its customers have benefited from improved customer experiences and strengthened credit products. The tool has identified fraud cases earlier, allowing Atradius to act quickly and protect its customers. Additionally, the tool has improved the accuracy of credit ratings, making it easier for customers to receive financing.

Temenos brings transparency and explainability of AI to the banking industry

Temenos, a leading banking software company, is the first to bring transparency and explainability of AI automated decision-making to the banking industry through its XAI model. Temenos is the world’s first banking software company to develop an AI-embedded banking platform that provides transparency and allows stakeholders to understand the factors behind automated decision-making.

Temenos XAI models have helped Atradius refine and improve the accuracy of its predictive models by identifying and eliminating previously unnoticed biases in data. With the use of XAI, Atradius can now better explain why and how decisions are made, thereby increasing transparency and trust between the company and its customers.

Patented explainable AI and machine learning capabilities embedded in Temenos platform

Temenos’ patented Explainable AI and machine learning capabilities are embedded in the Temenos platform, which enables organizations like Atradius to analyze data more effectively and receive more accurate results. The XAI model provides actionable insights while remaining transparent in the decision-making process.

The IBSi Global FinTech Innovation Awards identify and honor technology players and banks for their excellence in driving impact through banking technology implementations and innovations using emerging technologies. Atradius’s use of Temenos’s Explainable AI has demonstrated how innovative technology can reduce risk and improve customer experience in the financial sector. By using XAI, Atradius has been able to automate manual workloads, reducing claims, and increasing customer satisfaction. Moreover, XAI has enabled Atradius and its customers to benefit from strengthened credit products and fraud identification, making the tool invaluable for the insurance and credit industries.

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