VTB has created an analytics service for assessing new buildings – Kommersant
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VTB (MOEX: VTBR) introduced an analytics service for assessing new buildings, which helps speed up the consideration of an application for developer financing and obtain more accurate data about the property. It is based on a geoanalytics platform that allows you to compare more than 1 thousand layers of data from the banking sector, telecoms and digital services.
“The program takes into account many factors and shows an assessment independent of expert opinion, which plays an important role in the overall process of approving a transaction by all departments involved in the process. The service provides the most significant competitive advantages in a situation where a residential property under construction has no nearby analogues, and it is impossible to evaluate it using only the method of comparison with similar neighboring properties,” said Maxim, head of the data analysis and modeling department, senior vice president of VTB Bank Konovalikhin (Kommersant has a press release).
The service uses anonymized information about residents of similar houses and areas with similar transport infrastructure, having similar interests and income structure. In particular, it allows you to calculate the required number of ATMs in a particular area and the amount of cash in each of them. The service is based on three platforms: the geo-analytics platform (Geo), the automatic model training platform (AutoML) and the MLOps platform.
“The complexity of the task of assessing real estate on a Russian scale lies in taking into account regional specifics, macroeconomic fluctuations, and the wide variety in the quality and location of construction projects, which in turn determines the choice of tools and modeling methods,” VTB said. Due to the use of the program, the time from the client’s request to the signing of the loan agreement was reduced by three times, VTB noted.
How the housing market is developing in Russia – in the material of Kommersant “The studios dispersed to different regions”.
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