News - 19/04/2024

Global Finance rewards our AI system for debt recovery

This award showcases our dedication to helping clients tackle and prevent debt using both conventional risk analysis methods and innovative machine learning techniques.

Global Finance has recognized BBVA as one of the winners in its financial innovation awards of the year. The award-winning project, a machine learning pipeline for early debt recovery, was implemented in the last quarter of 2023 to help the bank’s customers prevent default situations.

In machine learning, a pipeline is a structured sequence of steps for data processing and modeling. The innovation lies in integrating advanced machine learning techniques with traditional risk analytical methods.

Joseph Giarraputo, the founder and editorial director of Global Finance, has praised this year’s award winners for their innovative solutions that help customers and provide excellent user experiences. This system is designed to optimize operational times and provide accurate and reliable results to help the bank take proactive action in debt scenarios.

The shift from linear to non-linear models, coupled with the adoption of state-of-the-art techniques, signifies a cultural shift for the bank in debt management. Our pipeline empowers the creation of robust, interpretable, and production-ready models, which can be replicated to address various classification problems, ultimately benefiting our clients.

The development of this project was a collaborative effort, led by our AI Factory team in close partnership with the bank’s risk analysis department (GRM) and the recovery management business unit. This cross-functional collaboration has been instrumental in aligning teams toward shared goals and fortifying the implementation of impactful solutions.

About Global Finance

Global Finance, with 37 years of experience and headquarters in New York, is an authority on international financial markets with readers in 193 countries. It regularly rewards the best in financial services, and its awards are a globally recognized standard of excellence.