R&D – Beam https://beamlend.com Credit Intelligence Thu, 14 Mar 2024 13:21:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 https://beamlend.com/wp-content/uploads/2023/05/Beam-Lend-Favicon.svg R&D – Beam https://beamlend.com 32 32 Introducing Vet Your Customer (VYC) by Beam https://beamlend.com/introducing-vet-your-customer-vyc-by-beam/?utm_source=rss&utm_medium=rss&utm_campaign=introducing-vet-your-customer-vyc-by-beam Thu, 14 Mar 2024 12:58:32 +0000 https://beamlend.com/?p=2581 In line with our mission to develop technologies that provide best-in-class credit decisioning and infrastructure, we have been hard at work developing the first product in our line up: Vet Your Customer (VYC) by Beam.

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What is VYC by Beam?

VYC offers a seamless, single-integration solution that enables lenders to conduct comprehensive checks on affordability, identity and credit bureau information. Our user-friendly platform simplifies the process, making it more efficient and accessible for lenders to obtain all necessary verifications through one streamlined integration.


How VYC by Beam works

Using our custom-built cloud-based software platform VYC automates, manages and approves credit applications from one unified dashboard. VYC helps underwriting and sales teams to enhance their understanding of credit applicant risk. Teams using VYC benefit from collaborative decision-making for improved business outcomes. VYC becomes central to internal team operations, offers comprehensive audit trail functionality and facilitates seamless internal and external communications.

Why our customers love VYC by Beam

VYC streamlines the underwriting process by automating data extraction from customer bank statements (traditionally done through manual processes). By automating the process, the VYC solution accelerates the decision-making process and enhances the precision of risk assessments.

The Beam R&D team have dedicated considerable effort to enhancing the product experience by applying advanced UI/UX principles, aiming to provide applicants with a seamless credit application journey. VYC harnesses the power of Beam’s machine learning algorithms alongside our robust banking data core, designed to sit at the point where an online intervention is required.


Accelerate your business with VYC by Beam

In the increasingly challenging economic climate that South Africans are experiencing, prioritising affordability assessments, cash flow forecasting and behavioural vetting is becoming more crucial for lenders in their risk management strategies. VYC is our solution to this challenge and we’re working closely with lenders every day to improve the offering. 

As we continue to refine and enhance the capabilities of VYC, we look forward to sharing more updates on our product roadmap in the coming months. 

About Beam

Beam is a fintech company founded in South Africa. Our software solution helps organisations make better credit decisions by seamlessly distilling a broad range of data sources in real-time

We enable risk officers to access all the information they need to analyse their customers in one place, and make it easy to make more informed choices throughout the credit and risk lifecycle. Our state-of-the-art software and API-driven model enable better collaboration and visibility between credit professionals, technical teams and management.

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