Avant Democratizes Data Science with DataRobot
Customer Company Size
Large Corporate
Region
- America
- Europe
Country
- United States
- United Kingdom
Product
- DataRobot's Managed AI Cloud
- Avant's in-house production system
Tech Stack
- Amazon Web Services (AWS)
- DataRobot APIs
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Digital Expertise
Technology Category
- Analytics & Modeling - Machine Learning
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Quality Analytics
- Fraud Detection
Services
- Data Science Services
About The Customer
Avant is an online lending platform that provides credit alternatives to middle-income consumers in the US and UK. The company offers access to unsecured personal loans ranging from $1,000 to $35,000 with funding as soon as the next business day. Avant has served more than 600,000 customers worldwide. The company also offers its technology solutions to bank and non-bank partners via its 'Powered By Avant' product to provide an innovative digital lending experience to their customers. Founded in late 2012, Avant has raised over $600 million of equity capital and originated over $4 billion of loans through the platform.
The Challenge
Avant, an online lending platform, has been using data and machine learning to make smart loan decisions. However, as the company wanted to scale its business, it faced the challenge of maintaining the quality and sophistication of its analytics. The company needed a solution that would allow its analysts and business users to access data science tools that could be leveraged by the business teams. Avant was looking for a solution that was easy to use, statistically sound, supported by a reliable company, and simple to integrate with production systems.
The Solution
Avant chose to use DataRobot's Managed AI Cloud offering, powered by Amazon Web Services (AWS), to allow its business analysts to perform data science work. This platform enabled the company to make a larger number of predictions faster, from the likelihood of receiving payments to marketing response to potential fraud. The DataRobot platform allowed Avant to quickly build models, perform analysis, and evaluate new data sources, saving the time of its data scientists. The platform also provided easy integration with Avant’s in-house production system through direct access to DataRobot APIs.
Operational Impact
Quantitative Benefit
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