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Prediction of loan status in commercial bank using machine learning classifier

60 citations0/0 files storedInternational Conference on Intelligent Sustainable Systems (ICISS)

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Financial Distress and Bankruptcy Prediction Data Mining and Machine Learning Applications Imbalanced Data Classification Techniques

Abstract

Banking Industry always needs a more accurate predictive modeling system for many issues. Predicting credit defaulters is a difficult task for the banking industry. The loan status is one of the quality indicators of the loan. It doesn't show everything immediately, but it is a first step of the loan lending process. The loan status is used for creating a credit scoring model. The credit scoring model is used for accurate analysis of credit data to find defaulters and valid customers. The objective of this paper is to create a credit scoring model for credit data. Various machine learning techniques are used to develop the financial credit scoring model. In this paper, we propose a machine learning classifier based analysis model for credit data. We use the combination of Min-Max normalization and K-Nearest Neighbor (K-NN) classifier. The objective is implemented using the software package R tool. This proposed model provides the important information with the highest accuracy. It is used to predict the loan status in commercial banks using machine learning classifier.

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References

2010Consumer credit-risk models via machine-learning algorithms 2006Credit scoring with a data mining approach based on support vector machines 1996A k-Nearest-Neighbour Classifier for Assessing Consumer Credit Risk 2015Predicting Credit Risk in Peer-to-Peer Lending: A Neural Network Approach 2007Building contextual classifiers by integrating fuzzy rule based classification technique and k-nn method for credit scoring

Cited by

2020Review of Machine Learning models for Credit Scoring Analysis 2021Data-driven approaches in FinTech: a survey 2023An Efficient Loan Approval Status Prediction Using Machine Learning 2021Credit Risk Prediction in Commercial Bank Using Chi-Square with SVM-RBF 2022Loan Prediction System Using Machine Learning 2021Swindle: Predicting the Probability of Loan Defaults using CatBoost Algorithm 2023Prediction of bank Loan Status using Machine Learning Algorithms

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