Problems of lending to individuals in PJSC Promsvyazbank and ways to solve them

The Russian consumer credit market is rapidly developing. High competition has led to the fact that the decision to issue loans is issued in the shortest possible time. Outdated methods of assessing the borrower do not keep up with such growth in the retail lending market, which is why the main task facing banks now is to ensure a minimum level of defaults with a growing volume of loans. The growing amount of overdue debt on previously issued loans, while its importance for the development of the Russian economy is paramount, as it affects various aspects of the activities of the housekeeper involved in the process. To date, these conditions are not provided, so banks are forced to inflate the cost of the loan. In other words, banks need a reliable system of classification of borrowers in order to reduce risks.