Domuso reduced credit card chargebacks, saved $500K annually

Industry

Finance

Use Case

Product

Who is Domuso

Domuso is a next-gen financial services platform offering comprehensive payment processing solutions for multifamily properties.

‍

Main Findings

  • Domuso used its existing team and resources to implement the Machine Learning project.
  • Domuso implemented the ML project quicker and easier than traditional ML projects.
  • Reduced chargebacks by $95k over two months.
  • Applied ML yearly ROI $500k.

Who is Domuso

Domuso is a next-gen financial services platform offering comprehensive payment processing solutions for multifamily properties.

‍

Main Findings

  • Domuso used its existing team and resources to implement the Machine Learning project.
  • Domuso implemented the ML project quicker and easier than traditional ML projects.
  • Reduced chargebacks by $95k over two months.
  • Applied ML yearly ROI $500k.
Learn how it was built:
Link↗
Check out the code:
Link↗
Try out:
Link↗

Challenges

Domuso is a next-gen financial services platform offering comprehensive payment processing solutions for multifamily properties.

‍

Domuso drives digital transformation for the $500 billion apartment rental industry with an advanced platform to manage payments and communication throughout the entire resident lifecycle. Domuso captures 100% of a property’s receivables electronically while giving residents the flexibility to access multiple payment methods from any mobile device.

‍

Domuso removes paper payments from the leasing office by replacing money orders with the industry’s only Online Certified payment method. Other Domuso innovations include a point-of-sale credit option, secure off-site cash payments in partnership with MoneyGram, and the ability for residents to pay with a photo of their check using Mobile Check Pay.

MindsDB Solution

MindsDB helped Demuso train and deploy a functional, trustable Machine Learning model with our AutoML solution and with the support offered by our Machine Learning experts. Using only the existing team and tech resources the predictions were developed and moved to production.

Results

The overall solution that the Domuso team has developed offers a few key benefits to their business:

Domuso can now predict with accuracy if a rental payment is likely to be returned due to insufficient funds.

The current Risk Prediction use case reduced chargebacks by $95k over two months with a potential saving of $500,000 over a year.

Domuso reduced credit card chargebacks, saved $500K annually

They can train and deploy new Machine Learning models if any new use case arises directly in their database using the existing teams in a matter of weeks, not months.

“With MindsDB, we have used our existing team and technical resources to implement advanced Machine Learning models faster and with less complexity. It has positively impacted our business, and we saw a reduction of chargebacks by $95k over two months and a saving of $500,000 over the year.”

Sameer Nayyar

Make the most of your data. Use AI to power prediction and analysis capabilities, and create actionable strategies.

Get Started for FREE