Kaizen Blitz Analytics (KBA), a leader in AI-powered tenant screening solutions, today announced the release of SmartRentScore (SRS) 2.5, a major update to its flagship product for the Colombian market.
SRS 2.5 brings significant improvements in performance and adaptability, particularly in response to Colombia’s economic volatility and high inflation rates. The update introduces new variables that are more sensitive to inflation shocks, critical for accurate risk assessment in the current economic climate.
“With SRS 2.5, we’ve not only improved our already strong default detection capabilities, but we’ve also significantly increased our true negative rate,” said Borja, CEO of KBA. “This means our clients can approve more applications with confidence, knowing that the risk of false positives has been minimized.”
Key improvements in SRS 2.5 include:
- Increased Performance: Slight improvement in default detection (recall) with a significant increase in true negative rate, leading to higher approval rates without compromising risk assessment.
- Inflation-Sensitive Variables: New variables introduced to better account for economic volatility and inflation impacts on tenant default risk.
- Optimized Decision Thresholds: With optimal probability thresholds, clients can achieve:
- Approval rates at or above 70%
- Auto-rejection rates at or below 10%
- Manual review rates at or below 20%
4. Enhanced Predictors: Time series-related and demographic factors show the highest impact, with financial profile and credit history also playing crucial roles. Employment type, funding capacity, and purchasing profile help discriminate edge cases.
5. Risk Micro-Segmentation: Identification of 6 high-risk cluster micro-segments, providing clients with deeper insights for strategy development.
“The enhancements in SRS 2.5 reflect our commitment to continuous improvement and adaptation to market conditions,” added Uli, CTO of KBA. “By incorporating inflation-sensitive variables and improving our algorithm’s precision, we’re providing our clients with an even more powerful tool for risk management.”
KBA reports that usage of SRS by clients in Colombia continues to grow, with default rates of contracts reviewed by SRS remaining residual at 0.53%. The company plans one more major update before year-end, focusing on early detection of applicants more vulnerable to inflation shocks.
For more information about KBA and its products, don’t hesitate to visit our website:
- To learn more visit the SmartRentScore web page
- Contact us for a demo or write us an email to: sales@kaizenblitz.io!
About KBA: Kaizen Blitz Analytics (KBA) is a U.S.-based tech company specializing in AI-powered solutions for the real estate industry. With a proven track record in Latin America, KBA combines advanced machine learning algorithms with deep market knowledge to provide innovative tools that streamline operations and reduce financial risks for property managers and owners.