Case study: Data Insights Are Helping to Evolve a Financial Services and Credit Solutions Company

NewDay is one of the UK’s largest providers of consumer credit. This financial services company, with close to 5 million customers, specialises in products that help people move forward with credit. In partnership with many established retailers, including Amazon, AO.com, Arcadia Group and Debenhams; NewDay products include store cards, branded credit cards and instant access digital credit accounts at checkout.

Meet Preeti Maurya, a Credit Risk Analyst at NewDay

Preeti Maurya is a Credit Risk Analyst in the Credit Data and Insights Team and a Level 7 AI and Data Science Apprentice. The projects that Preeti works on include report building (creating monthly visuals on NewDay Credit Data), observing trends and patterns on customer behaviour and analysing potential indicators of risk. In terms of software and programming languages, Preeti utilises Python, SQL and Tableau the most. Preeti's day-to-day tasks involve querying data, writing up code for monthly BAU reports, investigating exceptions, exploring external and internal data to identify potential risk identifiers that can be utilised in NewDay's business strategies.

Why Preeti wanted to improve her data skills

In terms of NewDay's strategic data initiatives, Preeti's department is working on a central location for all of their data. "It's a big task to achieve, but will eventually create more effective and efficient reporting and provide a good foundation for data analytics"; explains Preeti. "Improving data quality to improve decision making is a strategic focus of any credit management team. We can apply data science to many areas of the business including fraud prevention, risk management, credit allocation and customer analytics."

My department is focused on the availability of external data and how we can use data science techniques to strengthen our strategies and improve our risk definitions. We can apply data science to many areas of the business including fraud prevention, risk management, credit allocation and customer analytics.”

Preeti Maurya, NewDay Credit Risk Analyst

"Data science is fascinating", Preeti continues, "but it can get very complicated and complex. There is a lot of potential in leveraging data science techniques to analyse and assessing risk. The ability to utilise and lead these efforts is what drove me to pursue the Level 7 AI and Data Science Apprenticeship."

"Since joining the program, I have already created my first model for the company using Gradient Boost algorithm (GBM)"; explains Preeti. "I faced a case of overfitting and having low volumes in my data. However, I used hyper parameter tuning to optimise and improve my model. My Python skills have significantly improved in terms of my ability to write code faster than before and optimising code to run efficiently. Eventually, I want to apply more data science techniques from the Level 7 program into my work-based projects and continue to consolidate my understanding."

My aspiration is to build a career in data science and apply it to the credit control industry. Since data science can be so widely utilised in so many business sectors, I’m very interested in learning and applying the best practices from different industries to ours.”

Preeti Maurya, NewDay Credit Risk Analyst

More about our AI and Data Science Apprenticeship

Cambridge Spark's AI and Data Scientist Apprenticeship equips employees with an advanced data science skill set to discover and devise new data-driven AI solutions, automate and optimise business processes, and support, augment and enhance human decision-making.

The program is ideal for teams already using Python to work with complex datasets on a regular basis and Employees looking to apply the latest cutting-edge Data Science and AI tools in their work.

"I hope to gain the theoretical and practical knowledge behind data science;" explains Preeti, "not just running a function on Python but understanding what it's doing behind the scenes. I want to learn where I can apply data science and gain the skill of identifying gaps in a business which could leverage data science. A clear benefit of this program are the opportunities to network with Cambridge Spark partners and alumni which include impressive companies like the NHS and the BBC."

A clear benefit of this program are the opportunities to network with Cambridge Spark partners and alumni which include impressive companies like the NHS and the BBC."

Preeti Maurya, NewDay Credit Risk Analyst

"The Level 7 AI and Data Science Apprenticeship has helped in many ways;" explains Preeti, "firstly, the EDUKATE.AI platform's remote working environment and ability to get instant feedback is the best resource for learning that I have come across. I tend to work late and in some cases, I will do a lot of trial and error to see if my code is right. So having that instant feedback and reasoning is very helpful and is effective for my learning.

Secondly, the curriculum content has been excellent so far. The theory is explained whilst providing practical examples. Finally, the regular progress reviews encourage me to think about how I can improve in terms of soft skills. I have already implemented many of the targets I set for myself. This included delivering a presentation to encourage spreading knowledge, creating a piece of documentation and creating tidy and organised code notebooks (Python)."

Interested in upskilling in data science and AI?

Cambridge Spark are currently enrolling for the next cohort of the Level 7 AI and Data Science Apprenticeship. Get in touch with the team using the form below to find out how we can help your organisation build data analytics capability.