US based tenant screening company was using a legacy software to assess the credibility of applicants seeking rental properties. Various factors contribute to the final score on the analysis report, based on which property owners made their final decision. The data points included various criminal reports, eviction records, credit bureau reports, income sources, employment status and other factors which influence the credibility for tenant assessment.
The system after screening a tenant was generating a score which was based on older methods which followed a defined fixed logic. This was leading to inaccurate scores. This system needed a new scoring model which considered more data points and its influence on the overall score thus generating an accurate score leading to correct decisions
The Intelligence of PredictSense is the ideal solution for this case wherein the scoring model had to be optimized to consider multiple factors, their weightages and the consequent impact on scoring, incorporating feedback loops and using the inputs to bring the score close to real time accuracy. The final score generated for each applicant took into consideration not only the factors but it also recognized the impact the factors had in making a decision to accept or reject a tenant.
The machine learning and artificial intelligence abilities of PredictSense gave new meaning to the score because it wasn’t just a number based on multiple factors. The score based on hard coded logic was erroneous because it lacked the ability to understand the relevance of the various factors individually and the impact it had on the tenants screening. PredictSense generated the accurate score by learning continuously and improving the scoring model using feedback loops. PredictSense was also able to identify the factors which had a positive or negative impact on the score. Thus tenants, agents and property owners understood the reasoning behind the score, thus making the screening process transparent and led to increased trust and credibility among the stakeholders. PredictSense boosted the business of the screening company by giving it a competitive edge with AI that made tenant screening process quick, accurate and trustworthy for making the right decisions while on boarding tenants.
1. Edge over competition by being the trusted partner of choice for Tenant Scoring
2. Reduced costs and had a direct impact on bottom line
3. Optimised workflows led to scalability, increased acquistion and customer satisfaction
The client was in the business of collections with reference to Consumer delinquencies.
The client was in the business of collections with reference to Consumer delinquencies.
US based tenant screening company was using a legacy software to assess the credibility of applicants seeking rental properties.