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How Sherlok Works
Sherlok runs a weekly queuing job designed to create a prioritised workload for you. This is powered by an internal machine learning algorithm that predicts clients likely to seek better rates and, therefore, at higher risk of churning.
This capability is implemented using 2 different sub-systems:
1.Loan scoring
Everyday, each loan is assigned a retention score, which determines the order in which it’s queued for review. With the assumption lower rates = happier clients, factors influencing the score include, but are not limited to:
Everyday, each loan is assigned a retention score, which determines the order in which it’s queued for review. With the assumption lower rates = happier clients, factors influencing the score include, but are not limited to:
- Potential refinance savings per annum
- LVR
- Loan amount
- Time since settlement
- Applicant profile
- Previous repricing history
- Number of days till fixed rate maturity
2.Reprice queuing
While all eligible clients are repriced throughout the year, Sherlok takes care of prioritisation to save you time. Based on the size of your book, Sherlok will calculate a weekly volume to queue and present to you the clients with the highest score. However, you retain full control over the process. For instance:
While all eligible clients are repriced throughout the year, Sherlok takes care of prioritisation to save you time. Based on the size of your book, Sherlok will calculate a weekly volume to queue and present to you the clients with the highest score. However, you retain full control over the process. For instance:
- You can delay repricing for a client, and they will be ineligible for queuing until the selected date.
- If you want to reprice a client immediately, simply use the "Reprice Now" button in your client list.