Case Study: Scaling a Fintech Startup with Expert Network

This article is a case study that aims to provide deep insight to the audience and potential clients. The explanation below covers what Konnect Network as a global expert network company does to help clients.

Clients:

A fintech startup focused on providing micro loans to small businesses in Indonesia. 

Background:

In Indonesia—Southeast Asia’s largest economy—small and medium enterprises (SMEs) contribute to around 60% percent of the nation’s economy and absorb 97% of its domestic workforce. However, while there are more than 60 million SMEs 1  in Indonesia, only 12% can get financing or bank loans, as reported by The Conversation. This lack of access to capital is a significant barrier to growth for many Indonesian SMEs.

Challenge:

The company was experiencing rapid growth but faced challenges in scaling its risk assessment model to accommodate a larger customer base. They needed to enhance their model’s accuracy while maintaining efficiency.

Konnect Network Solution:

1. Expert Matching:

As expert network, Konnect Network connected the startup with an expert on data scientists in risk modeling for financial institutions.

2. Custom Project: 

The data scientist worked closely with the startup’s team to:

• Conduct a comprehensive review of the existing risk assessment model.
• Identify areas for improvement, such as incorporating alternative data sources and refining feature engineering.
• Develop a new, more robust risk model.

3. Knowledge Transfer:

The data scientist provided training to the startup’s data team, ensuring that they could maintain and improve the model in the future.

Quantitative Results:

• Improved Model Accuracy: The new risk model reduced the false positive rate by 25%, leading to a decrease in loan defaults.
• Increased Lending: With a more accurate risk model, the startup was able to expand its lending operations by 30% within six months.
• Faster Decision Making: The new model significantly reduced the time required to assess loan applications, improving the overall customer experience.

Key Takeaways from this Case Study:

• Specialized Expertise: Konnect Network can provide access to highly specialized experts who can address specific fintech business challenges.
• Measurable Impact: The partnership with Konnect Network resulted in tangible, quantifiable improvements to the startup’s business.

Konnect Network offers comprehensive solutions to a wide range of business challenges. Beyond connecting you with industry experts, our services such as Expert Call Sessions, Talent Hunts, and Market Survey Research empower you to make informed business decisions and achieve your goals. 

Ready to experience the power of our global expert network? Contact our team today at info@konnect.co.id for a complimentary consultation.