The Data Insight team put their reputation and money on the line to develop Valocity. By using high quality data analytics, combined with deep market and customer insight, and supported by a strong strategy, Data Insight has produced outstanding results for the company and its customers.
Through disrupting the status quo by significantly improving the overall quality of data and systems that underpin the New Zealand property and mortgage market, Data Insight have enabled the lender to take the customer “off the market” by providing superior service and a faster mortgage decision.
The solution combines the best of:
- Advanced Analytics - integrating almost 100 disparate data sources to form a single property view and create an Automated Valuation Model, a predictive model that calculates the current value of 99.5% of residential properties and 100% of apartments nationwide.
- Insight - modelling concentration risk, market performance, and bulk mortgage portfolio value to inform actionable future valuation decisions, along with post valuation analysis around SLA’s, accuracy, customer conversion metrics and performance.
- Technology - delivering the analytics, insight and information to front line staff to enable them to deliver relevant and streamlined lending.
- Data - providing new data never before available to the market enabling the most accurate decisions.
- Connectivity - merging an ecosystem including banks, brokers and valuers through a powerful online system that streamlines full valuation ordering with dashboards and automated decisioning.
- Ongoing ‘Always on’ Insight – optimising with the ability once a customer has a mortgage to leverage the valuation model to proactively trigger top up offers when an asset increases in value.
The success of Valocity is a great example of how a small NZ-owned startup can use cutting edge marketing, data, advanced analytics and next generation technology to develop a high quality product and win against large global players.