JT on EDM

Syndicated from Smart Data Collective
Khosrow Hassibi of KXEN and Will Tangalos of Wells Fargo presented together on the challenges of predictive analytics in the real world and on Wells Fargo as an example of how some of these challenges can be met. Khosrow began with an overview of the basic predictive analytic tasks:

Understand the business [...]

Joe McKendrick pointed me to a story on ABC News today -  ‘Good Morning America’ Gets Answers: Some Credit Card Companies Financially Profiling Customers. The story is worrying and has some good reporting in but, as usual, the analytics behind the whole thing are poorly described.
So, first things first. The headline gets us off on [...]

Predigy is a technology originally developed by Intelligent Results (founded in 2001) that was acquired by First Data in 2007. It was originally focused on the military (particularly on the analysis of unstructured data) but has subsequently moved into commercial applications. Predigy is now a decisioning platform with some applications in banking, collections, telecommunications and [...]

Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]

I wrote an introduction (and a brilliant one if I do say so myself) for a white paper called “Using Automated Decisioning and Business Rules to Improve Real-time Risk Management” that was produced by the folks at Equifax. You can download it using the link to the US Banker page. Enjoy.

Thanks to my friends at Bankwatch I heard today about eBank in Japan. The bank is described in this nice article on swiftcommunity.net. What struck me about this was the focus on complete automation of decision making – not just the processes and information colleciton, but the decision making itself. Is this the person they [...]

Naumi Haque wrote this nice piece on The future of consumer banking and it struck me how many of the things she suggests, with which I agree, require a broad-based adoption of EDM.
For instance she suggests a single financial cockpit – she calls it a dashboard but she wants to be able to do things [...]

Reading 1:1 today I saw a great story about Gulf Bank called Overcoming Customer Interaction Roadblocks. This bank has a problem because it’s customers can’t get mail. How does it address this? By using it’s ATMs as a delivery device for messages! Putting relevant, timely, personalized information on the ATM when you use it. No [...]

Having just written a post about how vague the word analytics is, I see Ann All’s post Banks Using Analytics to Boost Customer Retention. What’s interesting about Ann’s post is not that she makes it clear what kind of analytics she is discussing but that almost any of the various kinds of analytics can [...]

Ted Iacobuzio of TowerGroup gave the closing keynote, expanding on the survey results Fair Isaac announced today. More than 100 of the InterACT attendees took the survey – clearly this is top of mind. Some highlights:

Lenders appreciate the need for integrated customer information and multi-product decisioning
Lenders are not all at the same speed in implementation
Respondents [...]