Lumos Technologies has introduced Lumos Portfolio Score, a cutting-edge predictive credit risk tool. This tool utilizes advanced analytics to identify credit risk trends, assess loan portfolios, and enable proactive risk management. Lumos Portfolio Score aims to enhance the profitability and performance of small business loan portfolios by providing timely insights and facilitating data-driven decision-making.
WILMINGTON, N.C., Feb. 29, 2024 /PRNewswire-PRWeb/ -- Lumos Technologies (Lumos), an innovative provider of analytics and advisory services for small business lending, has announced the launch of Lumos Portfolio Score. This is the latest predictive credit risk tool in the Lumos Portfolio Insights suite of products for small business lending.
Advanced analytics can identify credit risk trends and patterns, anticipate potential weaknesses, and alert financial institutions to initiate preventive measures. The Lumos Portfolio Score quantifies loan risk for small business loan portfolios, enables a more robust monitoring of loan performance, and assesses the overall health of the portfolio with predictive models for loan default and expected loss.
"Lumos Portfolio Score plays an essential role in safeguarding the profitability of small business loan portfolios," said Brett Caines, Co-Founder and CEO of Lumos. "Routine portfolio risk scoring provides timely feedback, equips credit risk management teams with the clarity required to quickly identify risk patterns, and allows for prompt corrective actions."
Lumos Portfolio Score aids in early identification of individual loan and portfolio strengths and weaknesses using robust predictive credit models.
"The application of technology, coupled with the crucial role of data, is the new standard for proactive loan portfolio management," said Youri Nelson, Co-Founder and CTO of Lumos. "This enables data-driven decision making and the implementation of proactive strategies to mitigate risks and boost portfolio performance."
Lumos' predictive scoring models help mitigate unexpected credit events, minimize potential financial losses, and enhance regulatory compliance in portfolio monitoring. The data from proactive risk scoring guides decisions on lending policies, portfolio diversification, and comprehensive risk management strategies.
About Lumos Technologies
Lumos is an industry-disrupting data analytics company delivering actionable insights, advisory services, and AI-driven technologies with safety and soundness in mind. Backed by expert financial literacy,
Lumos provides financial institutions with standardized and automated metrics, powerful decisioning models, and efficient processes with rich, curated data and decades of financial institution literacy at the heart of it all. To learn more about Lumos, visit http://www.lumosdata.com.
Media Contact
Carri Mitchell, Lumos Technologies, 1 9102100040, [email protected], lumosdata.com
SOURCE Lumos Technologies
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