Julian Hedt (Banjo Loans)
Microsoft partner Data Addiction has designed and deployed a risk calculation platform for Australian FinTech start-up Banjo Loans.
The Sydney-based cloud and analytics specialist built an end-to-end solution with core systems built on Microsoft Azure.
The solution provided Banjo with data analytics and reporting whilst also laying down foundations for a machine learning artificial intelligence (AI) stack.
As a result, Banjo will be able to use intelligent analytics to calculate risk and determine whether a small business is a good bet for providing a loan.
Banjo currently pulls information from 10-15 different data sources before using its own internal credit engine to asses loans based on performance.
Now, the start-up will also be using AI to assess the credit risk model optimisation and improve analysis and risk assessment further.
Speaking about the decision to team up with Data Addiction, Banjo chief technology officer Julian Hedt said: "They had the internal processes and expertise to stand up the platforms and have an end-to-end solution ready to go in quick time. Otherwise, we might have spent six to nine months trying to stand up on our own. That set us up with a foundation for what we’re doing now."
As well as Microsoft Azure for the reporting platform, Banjo uses Data Factory for storing its data in Data Lake, alongside Data Bricks.
It also uses Azure Synapse and on the reporting side it utilises BI. In addition, the company has started using Azure Machine Learning services.
"Banjo is data-driven," Hedt added. "We pull in financial information from 10 or 15 different data sources. We’ve got our own internal credit engine that assesses loans based on business performance. So we’ve always used a lot of data and a lot of heavy analysis. What’s exciting about the data platform that we’ve got now is we can start tuning our products for the market a lot better."
Last month, Data Addiction also created a new platform connecting suicide prevention service Lifeline with mental health researchers at three Australian institutions.
Meanwhile, last year it assisted alcohol delivery service Tipple with an analytics overhaul that has significantly capitalised on a spike in demand.
