A Decision Support System to Automate the Innovation Scoring Process in the Financial Sector
About the pilot
SOFIA Innovation Scoring, developed by Renvis, is a Decision Support System (DSS) for Innovation Scoring, that:
- Integrates data from various sources and offers a unified, friendly UI for creating Innovation Scorecards and customizing Innovation Scoring Models.
- Guarantees data integrity and secure user access, so that it can be immediately part of an alternative evaluation process (Credit & Investment Scoring) beyond traditional banking criteria.
The implementation of the pilot will introduce to the market the new version of SOFIA (SOFIA 4.0), that adds the ability to provide suggestions based on existing, external and newly created datasets. This will create unique added value to data entered by the users and to the everyday usage of the software. SOFIA 4.0 will introduce the following innovations:
- An Innovation Scoring tool that is applicable on an international level and can be customized to meet any market needs.
- ML models stemming from financial banking transactions, consumer behaviors, and macro-economic company datasets.
- An alternative Scoring process for companies, irrespective of their size and stage
RENVIS have been working in parallel with the EUH4D project to finalize the divelopment of SOFIA Innovation Scoring and make available the final datasets. During the EOSC Pilot they also managed to deliver a webinar for SOFIA Innovation Scoring and use it for marketing and dissemination purposes. Moreover, they have created a demo to be part of EOSC presence in various events.
RENVIS was founded in 2017. Our mission is to provide B2B Software Development Solutions that help companies optimize their decision-making process. Today, by using cutting-edge web technologies and collaborating with worldwide leaders in Cloud and Business Data-Driven Solutions like Amazon Web Services and Bitrix24, RENVIS covers a wide range of services, from Information Systems Planning to Software Development and Cloud Migration Consulting. Currently, RENVIS is focusing on further developing and supporting its core product, SOFIA Innovation Scoring. SOFIA acts as an alternative/supplementary evaluation process for Credit & Investment Scoring, beyond traditional banking criteria. Moreover, RENVIS is a registered AWS Parnter, a Gold Bitrix24 Partner, and offers Nextcloud managed instances.
HOW DID RENVIS BECOME INVOLVED WITH EOSC DIH?
We originally discovered EOSC and EOSC DIH during our collaboration with partners from EUHubs4Data. During this project, our partners informed us about EOSC and its services. We have discovered an open call for pilot projects and decided to apply, because it was a great fit for the phase of our core product, SOFIA Innovation Scoring.
WHAT SERVICES WERE USED?
RENVIS have used the EGI Datahub for making available the SOFIA datasets, and the dissemination services of EOSC partners.
ABOUT THE EXPERIENCE OF WORKING WITH EOSC DIH AND THE VALUE OF EOSC FOR THE PILOT:
“Through the regular meetings and assistance of the EOSC partners, we have been keeping up with the updates, been informed about funding and event participation opportunities, and increased our reach.”
“EOSC DIH added more value to our project and product (SOFIA), by reaching a larger audience and receiving feedback on our efforts.”
The plans are to make SOFIA available to the market in summer 2023 and create a client base.