We have developed novel solutions to aid banks in compliance with forthcoming requirements around EPCs and collateral valuation. Our business model is split into four phases.
Phase 1: Establish our relationships with Belgian banks through the deployment of our EPC value model. The EPC model proves the value proposition - i.e. that satelite imagery can be used to assist in modelling - to bank's, which tend to be risk averse when integrating new technologies/data.
Phase 2: Deploy a asset value monitoring subscription service where we detect changes at the building footprint level that may affect the valuation of the asset. This is to help in satisfying EBA GL 2020. The offering is a minimal viable product, aimed to expand our scope to EU banks, and offer a service that is required for an indefinite period.
Phase 3: Expansion of phase 2 beyond a risk based offering. Reinvesting revenues from phase 2, we propose gathering data about properties which surpasses any other competitors offering. We perform this with the aim of developing a collateral valuation model, which would be accepted by the ECB (European Banking Authority). This would also ensure a competitive advantage, allowing us to preserve revenues from phase 2.
Phase 4: With an ECB certified collateral valuation model and a high quality dataset, in phase 4 we propose expanding the offering to every day consumers. By offering a free valuation service, which would require consumers to take pictures from inside their homes, we could further improve the data quality of our maintained database, locate potential sellers of houses, and create an offering which could be sold to private equity firms and real estate agents
🛰️ EU space technologies
We will be using Sentinel 2 color images and AI to execute phase 1. Elaborating, we intend to use esa satellite data offerings to extract features that are relevant to model EPC values (e.g. number of walls at the property, square footage, property type, presence of solar panels, etc).
In phase 2 we propose expanding our data usage beyond open source/free offerings. We intend to use data gathered using planes, which offers a higher granularity, and would allow us to better detect property damage.
Other data sources:
🏦 Space for the Financial World
Challenge #2: Innovating financial tools and technologies
Krystof: AI Expert (Chairman)
Vladimir: Credit Risk Expert (CRO)
Erika: Data Science Expert (CEO)
Anna: Full Stack Developer (CTO)
Otilia: UX/UI Designer (COO)
Dani Delgado: ML/AI Expert (CDO)