TIP’s Fraud and Compliance Product provides out of the box solutions that are vendor and data agnostic. Our customer wanted the ability to predict likely non-compliance so they could nudge behaviours towards compliance (rather than having to collect debts afterwards
We made use of the customers anonymised data, and trained the machine based on 100 heavy debtors, giving us 18.8 million data points. The solution was able to predict non-compliance leading to debt up to 14 days into the future, with an accuracy of 79.93%. Delivering this solution into production could enable the customer to provide better services to Australians while achieving expected savings of up to $400M per annum.