Yandex Data Factory Helps Identify Possibly Illicit Loan Providers Online

The Central Bank of Russia is a big organisation with a lot of regulatory responsibilities. Of particular challenge is the Bank’s responsibility for monitoring loan providers. While gathering information about loan providers, checking whether a company has a license, and determining its legal status are key parts of the regulatory process, it’s not that simple due to the vast number of loan providers operating in Russia.

These relatively small businesses provide loans to customers who may be unable or unwilling to get a loan from a traditional bank. But while being popular and, in some cases, handy, these schemes are vulnerable to fraud and abuse at the hands of providers, especially those that don’t have a valid license.

Seeing as there are thousands of them, and since manual internet searches for them are slow and inefficient, the Bank turned to the big data analytics experts of Yandex Data Factory (YDF). YDF had to pinpoint information published by the loan providers on websites and social media business pages where loans are offered and to further determine each website’s or social media business page’s likely legal status.

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