RiskSpan to beef up data analytics platform options

RiskSpan employs approximately 105 people, is profitable, and has relied only on private investors up to this point, Dagli explained.

“What they do is take all profits and invest it back into R&D,” he added.

Cloud matters

RiskSpan’s core technology is cloud based and on-demand. Analytics is crucial to the platform’s success, Dagli said, because it works in conjunction with large amounts of loan data that lets users run forecasting analyses across thousands of simulations on this large data set.

The analyses themselves do not use machine learning, but the data capture, model calibration and ongoing error tracking of the model rely on it. The models themselves are transparent and built within the statistical framework developed during this process, Dagli explained.

The platform distributes two types of computation. One involves a large-scale analysis of data, relying in part on 100 million loans in RiskSpan’s data sets that go back to 20 years of performance history. Clients do the analysis on the platform, on demand, with results in a matter of seconds. The second piece involves RiskSpan providing the analytics and models that lets it run the analysis end-to-end, though clients can plug in their own analytics.