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15 views8 pages

Presentation 13

Uploaded by

riddhipatil.17092004
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Loan Approval Prediction

Group Members
1.Unnati Khane
2.Riddhi Patil
3.Prachi Pingale
Introduction
 LOANS are the major requirement of the modern world. By this only,
Banks get a major part of the total profit. It is beneficial for students
to manage their education and living expenses, and for people to buy
any kind of luxury like houses, cars.
 But when it comes to deciding whether the applicant’s profile is
relevant to be granted with loan or not. Banks have to look after
many aspects.
 So, here we will be using Machine Learning with Python to ease their
work and predict whether the candidate’s profile is relevant or not
using key features like Marital Status, Education, Applicant Income,
Credit History, etc.
Objective
 The main objectives are:
1.Develop a machine learning model
2.Improve accuracy
3.Minimized default risks
4.Optimized-decision making
5.Enhance efficiency
Problem Statement
 The current loan approval process has inefficiencies, biases, and high
default rates due to static criteria and manual assessments.
 It lacks adaptability and limits accessibility for creditworthy
individuals.
 To overcome these challenges, a data-driven approach using
machine learning is proposed for more accurate and efficient loan
approval predictions.
Existing System
 The existing loan approval system typically relies on static criteria and
manual assessments, leading to inefficiencies, biases, and high
default rates.
 The current system for predicting whether someone should be
approved for a loan has some drawbacks. It relies on fixed rules and
people manually assessing applications, which can be slow, biased,
and result in a high number of defaults
Proposed System
 The proposed loan approval prediction system utilizes advanced
machine learning algorithms for dynamic modeling, adapting to
changing financial patterns.
 It learns from past data to make better predictions about who
should get a loan.
 This system works quickly, avoids biases, includes more people
who should be approved, and adapts to changes in the financial
world in real-time.
Basic Flow
 Data Collection: Gather historical loan data, including applicant details, financial
information, and loan outcomes.
 Data Preprocessing: Clean and preprocess the data to handle missing values,
outliers, and ensure consistency
 Feature Engineering: Extract relevant features and create new ones that contribute
to the prediction model.
 Data Splitting: Divide the dataset into training and testing sets for model evaluation
 Model Selection: Choose appropriate machine learning algorithms
 Model Training: Train the selected model using the training dataset, optimizing
parameters for performance.
 Model Evaluation: Assess the model's accuracy, precision.
 Deployment: Deploy the trained model to a production environment for real-time
loan approval predictions.
Conclusion
 The loan approval prediction project using machine learning has
yielded a dynamic and accurate model, enhancing the efficiency of
credit assessments.
 By addressing traditional inefficiencies and emphasizing inclusivity,
this project signifies a significant stride towards a more accessible
and adaptive financial ecosystem.
 Ongoing monitoring ensures continued effectiveness in the ever-
evolving financial landscape.

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