The UNEC BCES (Bank Credit Expert System) project became the winner of grant competition.

The winner project of the 5-th grant competition, announced by the State Fund for Information Technology Development under the Ministry of Transport, the Ministry of Communications and High Technologies of the Azerbaijan Republic envisages the development and application of the expert system for making loan decisions. The head of the project is the associated professor of the “Information Economy and Technologies” chair at UNEC Vagif Ibrahimov, and the coordinator is the director of the Technology Transfer Center, the associated professor Aydın Huseynov.

The objective of the project is to increase the accuracy in credit operations of the financial institutions, to ensure the efficiency and to minimize the overall human factor in general by applying intellectual expert system.

According to the project, the replacement of the credit specialist with the software system creates an opportunities for the remote operations of credit operations. The project will be based on three types of loan applications: the mortgages for individuals, business loans given to companies and   the loans allocated for agrarian sector.

The expert system of the software will provide the customers with the opportunity to place their personal information and the requirements in a single database, evaluating the applications and accepting them properly, as well. With the help of the system it will also be possible to estimate the creditability of the customer. Another advantage of the system is the function to assist the credit specialist in assessing and completing the credit risk.