Instant and Responsible Decisioning with Structured Data

Utilising Captured, Structured and Networked data, MOGOPLUS then builds analytics to provide predictable pictures of consumer behaviour, so that our Customers can make more informed deductions and understand their customer’s behaviour in the future

Finetics

MOGOPLUS is then able to aggregate all internal and external data sets, apply lender specific rules to this data, and produce a unique and discrete set of data points upon which customers can instantly and responsibly provide financial advice, services and products.

MOGOPLUS Data Lake

Our partnership approach is further extended into the provision of strategic customer Analytics and Insight solutions through the utilisation of the MOGOPLUS Data Lake.

MOGOPLUS provides a secure portal of anonymised consumer financial data to allow partners to develop their own Data, Analytics and Research Solutions.

No data can be extracted from the Data Lake, only the models or products developed using the asset. We enable the development of Predictive, Descriptive and Decision based models with key partners.

These include:
• Product Analytics
• Household expenditure index
• Predictive insights
• Behavioural Analytics

Our Analytics Solutions provide key customer insights into existing product sets, future product portfolios, business sentiment levels and consumer indices.

They are used across a range of consumer facing verticals where customer intelligence and market research assist in business strategy execution.

MOGOPLUS is able to provide an orchestration layer to network third party information into the MOGOPLUS process to provide greater insights into identification, location, employment, income and spending habits and key data points for instant and responsible decisions.

MOGOPLUS works with a range of external data partners to combine financial transaction data with other key data points for solving today’s validation, verification and fraud based customer journeys.

Our Data Networking Solutions are used to provide a single integration point and end to end solutions provision. Example data sources we work with include but are not limited to:

•ID
•KYC
•Credit History
•Company Registration
•Property valuation

Richer, combined data sets assist in the provision of new and emerging customer solutions where low customer friction, minimal data collection and fast decisions are both expected and possible.

Our customers are able to access the full range of innovative and regulatory solutions available in the market without the burdens of multiple procurement processes and contracts.

MOGOPLUS provides a proprietary solution that enables a Lender to Refine, Translate and Summarise consumer data, to allow them to provide instant and responsible lending advice and products.

Refine - MOGOPLUS applies the Lender specific policy post our categorisation process, to ensure the transactions, summaries and income groups are in accordance with internal credit and risk policies

Translate - MOGOPLUS then converts all internal category, summary and income group codes into the codes that the Lender uses in their internal core banking system and business rules / credit decisioning engines

Compile - MOGOPLUS allows the Lender to map and summarise all of the structured data into as many Category Summaries, Section Summaries and Income Groups as they like in order to meet their internal credit and risk policies

Our patented Data Structure engine then enables the data to be accurately aligned directly with individual credit decisioning systems, serviceability calculations and rules engines for each lender we work with.

We work closely with our customers Risk and Compliance teams to translate the data into their own ‘language’ to facilitate instant, unconditional lending decisions in a compliant and secure manner.

Our customers experience
• Significantly lower operational costs
• Much quicker decision timeframes and
• Enhanced levels of customer experience and satisfaction

We are the only solution in the market that matches unstructured data directly into credit decisioning frameworks.

The MOGOPLUS Categorisation Engine provides an instant, accurate and responsible solution to the Identification, Classification and Grouping of consumer data.

With more than 5 years of experience in accurately categorising transactional data, MOGOPLUS is recognised as the market leader in this specialist area.

Identification – MOGOPLUS has tens of thousands of lists of regular expressions, reference lists, key words and other methodologies to accurately identify a transaction

Categorisation - MOGOPLUS has over 100 categories into which we place each transaction. MOGOPLUS concentrates on ensuring each new category added to our solution achieves our Match Rate, Match Accuracy and False Positive standards. More is only better if it is accurate.

Summarise – MOGOPLUS then summarises all data in Categories, Category Summaries and Section summaries, to provide our customers the advantage of viewing processed data at the aggregate level.

We measure ourselves on Match Rate, Match Accuracy and False Positive rates, and publish these so that you can be confident of our solution.

MOGOPLUS provides solutions to enable the collection of consumer transaction data and documents and the extraction of valuable Consumer, Account, Biller / Payee and Transaction Data so that our customers can use this data in the assessment and approval of financial products and services.

Capture – We enable transaction data to be captured from financial institutions that currently cover over 98% of the population of all territories we operate in.

Open Banking – We operate in the UK Open Banking marketplace as a registered AISP and utilise all available API’s for data capture in this territory. As Open Banking API’s mature across other countries we will continue our integration strategy and remain at the forefront of this sector.

Feed Docs – Bank Statement documentation can also be fully captured with our leading OCR engine

Feed Data – Data from existing customers can also be captured via our Feed Data API

Whatever the method of capture, all data is securely passed into our Categorisation and Structure Engines for further processing.

We are the only provider globally that does not see or store customer credentials when capturing transaction data.

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