Reducing risk and fraudulency of Small and medium enterprises

BFSI

The Challenge

Our client’s online platform provides working capital to small and medium enterprises in India. However, incorrect and unstructured addresses of these SMEs in the database increased the risk of fraudulency. Geotagged data of SMEs lacked granularity and were only available up to pin code level. The sheer number of text addresses that needed to be translated to latitude hampered productivity and turnover time. Not just the number of records, but also the hap-hazard formatting of Indian addresses posed a challenge to get accurate results. This hindered location accuracy and affected targeting SME’s for risk and fraudulency.

The Solution

Using our proprietary geocoding engine, Geocoder, we converted Indian text address to latitude-longitude in record time. Geocoder is uniquely designed to deal with the unformatted and unorganized nature of Indian addresses. It works by segmenting text addresses into fundamental components and performing a hierarchical matching going down from pin code level. The data was segmented into rooftop,localitysublocality which helped them to get to the exact location of the address. Customer profiling was also provided to understand the customers, highlighting who they are, what they look like, their interests and wants. 

The Result

There was a significant reduction in processing time for the conversion of text addresses to a spatial database and an increase in accuracy and precision while translating text addresses.

Read More

Found something interesting?