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- Liqui.do, a platform for leasing equipment to small and medium sized businesses, used H2O's Driverless AI AutoML technology to reduce bias in its credit scoring model.
- Liqui.do developed its credit scoring algorithm in less than three months with Driverless AI, boosting model performance by 20%.
- Liqui.do said Driverless AI let it offer credit to 20% more applicants without increasing the company's credit losses.
- Liqui.do reported a 20% annual increase in customers and more than 1 million euros in additional annual revenue after implementing H2O's solution.
- Liqui.do plans to expand its use of H2O technology into more of its processes to improve efficiency and effectiveness.
Liqui.do is a technological and innovative company developing a platform for leasing equipment for small and medium enterprises. As part of its business to provide a variety of credit options for companies that want to finance capital purchases, Liqui.do needs to rapidly and accurately assess the credit risk and scoring of a customer in order to offer the most attractive credit options. Expanding access to credit by reducing previous lending biases helps to drive both freedom and flexibility for people and businesses as well as business growth. This is why Liqui.do decided to use Machine Learning to meet their needs.
H2O.ai provided their AutoML technology, Driverless AI, that enabled Liqui.do to provide deep insights into the model to help the team minimize past biases. Now they are able to provide 20% more applicants with credit and offer the right financial products to meet the needs of their customers. The solution helps Liqui.do improve its credit risk predictions, improving lending fairness, and customer experience.
Using Driverless AI, in less than three months, the company was able to develop an algorithm that boosted its model performance by 20%, giving Liqui.do the ability to increase its credit approvals without compromising the company credit losses. After implementing the H2O.ai solution, Liqui.do noticed an increase of customers by 20% per year, as well as over 1M€ additional revenue per year. Liqui.do also aims to add AI to more processes, using H2O.ai technology, improving efficiency and efficacy.
“H2O.ai has been a terrific partner in helping Liqui.do utilize artificial intelligence to enhance its business and increase responsiveness to customers”
Sergio Nunes
Liqui.do CEO
“Our processes are much more efficient thanks to Driverless AI, the solution helps us make the right decision at the right time and in a fair way. We are excited by the initial results H2O.ai’s offerings have provided and looking forward to expanding the usage of AI within the company.”
H2O.ai is a leading open-source AI platform , and its Driverless AI is a leading automatic machine learning (AutoML) platform that helps customers easily build and deploy machine learning models. H2O Driverless AI automates time-consuming machine learning workflows with automatic feature engineering, model tuning, and model selection to achieve the highest predictive accuracy within the shortest amount of time.
“Liqui.do is using H2O Driverless AI to personalize credit towards equipment rentals for small-medium enterprises”
Sri Ambati
CEO & Founder of H2O.ai
“H2O’s autoML is helping Liqui.do transform the future of equipment renting.”
To learn more about Liqui.do, visit https://liqui.do