FOREFIN

ForeFin Trend
ForeFin DashBoard

Inspiration

Existing Commercial Lending Solution are not able to capture exact Financial Risk based on Weather disaster data. The Climate Change is a rigorous factor that needs to be taken care of in different industries. There fundamental changes will inevitably impact the balance sheet and the operations of banks, leading to both risks and opportunities. How can an Analyst help Agricultural Lenders, and other forms of Commodity lending with a simple solution on one hand was the first thought.

Secondly what leads to a Weather Disaster? How can we reduce such Disasters in future. A simple answer to this is how can we preserve our nature. In other words how Finastra can promote there end users to reduce Carbon footprint.

What it does

Profin captures the existing Disaster Data and is mixed with Financial Ratios based on each Industry. By doing so, it gives a trend of how the industry is handling business in each region during and after a disaster. By using the dataset it enhances the risk assessment feature too.

How we built it

Currently we tried to consume 3 APIs from FFDC (Party-B2E, Credits-B2E and Financial Ratios-B2E). We then tried to consume an External API from Federal Emergency Management Agency(FEMA) that gives the Disaster Data in US. We tried to merge both these data and formed intelligent solutions from its study first. Using an AI/ML Algorithm we then start to learn the behavior of each industry and tried to form trends around business.

Challenges we ran into

Dataset preparation is one challenge we ran into. Financial Spreads availability in FFDC would give more enhancement to the risk prediction in Profin.