Case Study: Folkia achieves 40% lower credit default risk with STATISTICA from StatSoft

Folkia - Customer Case Study

Folkia, a Norwegian short-term lender operating across several Nordic and Baltic markets, needed a better way to select customers and reduce credit risk. To solve this, Folkia worked with Statistica using STATISTICA software to build a customized credit decision support system.

Statistica helped implement a data mining and analytics-based score model that compared multiple statistical methods to identify the best predictor of customer risk. The result was a fast, easy-to-maintain system with stronger predictive power than standard models, reducing default risk by about 40% while lowering other turnover by only 3–4%.

Folkia

Nickolaus Karlsson

Credit Manager