Loci is an Oraculi module for using velocity or local data to make decisions. Unlike other types of data, Loci is 100% confined to the data gotten from a user on a lender’s platform.
Use cases for Loci include the number of loan requests made, approved or repaid within a given timeframe, for example:
Total number of loans requests made in the last hour
Total number of loans declined in the last 24 hours
Total number of loans approved in the last 7 days, etc.
Loci could be used to specify the number of times a user can change their monthly income data on the application form. This can prevent customers who consistently augment their stated monthly income in an attempt to meet the eligibility criteria for a loan from getting a loan.
Loci has almost an unlimited number of possible parameters that are configurable. To know more about Loci, please speak with the Product Support team at support@lendsqr.com.