Permanent TSB Increases Loan Approval Rate with Experian’s Affordability Checks from AWS Marketplace

Permanent TSB is a provider of retail and small and mid-size enterprise banking in Ireland. The company wanted to enable a richer experience for customers on digital channels by accelerating its credit decision making. Permanent TSB’s innovation team began with an on-premises proof-of-concept using Experian’s Categorisation as a Service (CaaS) private product. However, to achieve the processing needed for real-time decision making, the company needed to move to the cloud. Permanent TSB used AWS Marketplace to procure the CaaS machine learning model via private offer and securely deployed it into its Amazon Virtual Private Cloud (VPC). CaaS' analytics helped Permanent TSB understand whether it needs to respond differently or change logic or inputs, thereby reducing additional information requests to customers.