EU projects

EU funds to help Okredo and Fintegry predict risk of SME risk using online company search data

UAB Fintegry together with its partner UAB Okredo is implementing a project “Implementation of UAB Fintegry research and experimental development activities required for the development of machine learning models”. The project is financed by EU funds. During the project, a unique corporate credit risk assessment system will be created based on visitor data and search results on information portals.

Currently, there is no such or similar system on the market that analyzes the behavior of users when they search for companie's data on companie's data portals and predicts the emerging credit risk based on user behavior. The system will be easily accessible to users of companie's data portals. This solution will facilitate and reduce the price, increase the quality of corporate credit risk assessment, will stimulate competition in the market, and allow scaling this innovative service in other markets.

The developed solution will allow to operatively assess the solvency risk of young companies and will reflect the attitude of social and business environment to a specific company and its ecosystem. This will increase access to credit for small businesses and make credit risk assessment tools more accessible. The solution will provide recommendations instead of offering a large amount of difficult-to-interpret data, and the accuracy of predictions will be ensured by innovative methods of artificial intelligence and machine learning.

The total project budget is 940 thousand. EUR - 660 thousand EUR comes from the European Regional Development Fund under the EU investment program “Experiment”. The authors of the project will invest another 280 thousand EUR to the project.

The duration of the project is three years. The project was launched in February 2020 and is scheduled for completion in July 2023.