Logical Glue is an analytics tool for the financial services industry that aims to help businesses make decisions based on data. Touted as the next generation predictive analytics platform, it has worked with companies such as CallCredit to segment customers that are likely to default on payments and claims an 18% increase in the recovery collection rate for one project.
It now helps alternate finance companies and challenger banks to predict if a credit applicant is likely to be a good or bad customer, profiling their key characteristics, and works with insurance companies to predict claim rates, informing their pricing models.
Logical Glue was co-founded by CEO Colin Magee and received initial sponsorship via Accenture’s Fintech Innovation Lab. The team then worked with 12 global banks over three months to refine its product offering. The company also consults with businesses to help them define key performance indicators from a data science perspective before projects begin.