“In 2017, goeasy developed a new adjudication and lending limit strategy that utilized a large number of statistical models at the same time (7-8). The current process would’ve extended the project delivery timeliness and by delaying the delivery, reduce the projected results. After doing some research, we decided to proceed with Predictive Model Markup Language (PMML.)”
Zaur Akhmedov, Director, Acquisition, Risk & Analytics
goeasy Ltd. is a Canadian company headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions. With a wide variety of financial products and services including unsecured and secured installment loans, goeasy aspires to help put canadians on a path to a better financial future, as they rebuild their credit and graduate to prime lending. Customers can transact seamlessly with easyhome and easyfinancial through an omni-channel model that includes online and mobile, as well as through 400 leasing and lending locations across Canada supported by more than 1,900 employees. Throughout the company’s history, it has served over 1 million Canadians and originated over $3.3 billion in loans, with 1 in 3 customers graduating to prime credit and 60% increasing their credit score within 12 months of borrowing.
goeasy is the proud recipient of several awards including Waterstone Canada’s Most Admired Corporate Cultures, Achievers Top 50 Most Engaged Workplaces in North America, TSX30, Canada’s Top Growing Companies and the Digital Finance Institute’s Canada’s Top 50 FinTech Companies. The company and its employees believe strongly in giving back to the communities in which it operates and has raised over $2.7 million to support its long-standing partnerships with the Boys & Girls Clubs of Canada and Habitat for Humanity.
In order to support exponential growth of the loan portfolio, goeasy was building robust adjudication and lending models using the SAS analytical tool. The models and algorithms were then translated to pseudo-codes and detailed technical requirements about score calculations to be able to deploy the changes. This process lengthened the requirements gathering and system design process, enabling a wider margin of error and creating a need for change and improvement.
In essence, goeasy needed a solution that would allow for:
goeasy reached out to GDS, a partner since 2014, to discuss the possibility of utilizing PMML.
The goeasy team deployed their system changes containing the new models using PMML format in the GDS Link Solution. They found the approach extremely easy, preparing the technical requirements in just a few weeks.
The GDS Link PMML solution led to a transformation in the requirements gathering and implementation process.
Utilizing the PMML format allowed goeasy to accelerate requirements gathering and reduce the number of bugs/issues reported post-development. Moving away from pseudo-code generation created a more streamlined process between model development and deployment into production. goeasy was able to deploy more than 8 models in a single system change.
“Since 2014, we have been releasing 3-4 models a year,” said Akhmedov. “Since 2018, we have been continuously using PMML capabilities. It has enabled us to be more agile when it comes to recalibrating and changing models in production. We can react and adjust models a lot faster.”
Lenders like goeasy are facing pressure created by an ever-changing marketplace that requires continuous changes to analytical models to support better decisioning. GDS Link empowers brands to keep pace with this change, and our work helping goeasy accelerate their model implementation highlights how modern analytics tools accelerate operations.
GDS Link is a global leader in credit risk management, providing tailored software solutions, analytical and consulting services. Our customer-centric risk management and process automation platforms are designed for the modern lender in their pursuit to capitalize on the entire credit lifecycle. By providing a personal, consultative approach and leveraging our own industry-leading knowledge and expertise, GDS Link’s solutions and services deliver exceptional value and proven results.