Case Study: Nextbank achieves 97% AI credit scoring accuracy with Miquido

Nextbank achieves 97% credit scoring accuracy with Miquido

Nextbank, a provider of cloud banking software for financial institutions in Southeast Asia, faced challenges with its traditional credit scoring module. The system lacked transparency, had limited predictive power across changing economic conditions, was reactive, and was difficult to deploy across multiple banks with different data environments. Partnering with technology vendor Miquido, Nextbank sought to build a superior AI-powered credit scoring engine.

Miquido developed an AI credit scoring engine that analyzes over 600 data points per applicant using a combination of machine learning models for both accuracy and explainability. The solution operates proactively to identify creditworthy borrowers and is deployed across multiple banks. The results for Nextbank include a 97% prediction accuracy rate, over 500 million loan applications processed, and successful deployment across 7 banks in Asia, replacing manual processes and reducing default rates.

Nextbank