≡ Menu

Compliance

I recently gave a webinar with Jan Purchase of LuxMagi on Agile and Cost Effective Financial Compliance (recording here) and thought I would highlight some of the key challenges in compliance: Scale, Transparency, Consistency, Agility and Effectiveness: Scale There are more and more regulations that involve an increasing number of rules to ensure compliance. Decision Management, and decision [...]

Welcome to Part Two  of my interview with Jan Purchase, Director and Co-Founder of LuxMagi (Part One of the interview is here). Lux Magi are experts in helping their clients automate complex, legal and regulatory compliance processes using business rules technology and decision management.  Jan and I gave a webinar on Agile and Cost Effective Financial Compliance: Going [...]

I was pointed to a blog post today from the folks at Forrester talking about their Governance Risk and Compliance Platform wave report.  In an era of increasing regulation and increasing costs for compliance failures, these kinds of platforms are clearly important. These platforms help you manage documentation, track overall levels of risk, generate required reporting, [...]

We have been expanding recently, adding partners to help us deliver decision management to customers around the world. You can see the current list of partners here on Decision Management Solution’s website. To introduce these partners to you I am going to be conducting a series of interviews in the coming weeks. I am going [...]

I am giving a webinar on Lux Magi. Decision management and business rules management systems are the ideal platform for an agile and cost-effective compliance approach. In regulated industries like financial services, leading companies are building compliance into every process and system with consistency and transparency across the entire organization and with the agility to meet [...]

Final session today is Sandy Kemsley talking about Case Management. Sandy began by considering the system we use to work today. How we work, she says, is based on two different approaches illustrated by Taylor’s theories of standardized processes for efficiency and Drucker’s management by objectives theories. We need to support both and that drives [...]

Wrapping up, the key to intelligent processes is treating decisions as peers. Decisions may require a human but an intelligent process will automate those that can be automated. Even when a decision cannot be completely automated an intelligent process will load share between automated components and users. Even when a case exceeds the ability of the system [...]

What is an intelligent process?

So what is an Intelligent Process? An intelligent process is a dynamic, flexible and transparent process focused squarely on the consumer that continually improves and adapts. This has several elements: Customer Centric Putting the consumer at the heart of a process is central to making it more intelligent. This requires more flexibility and a focus [...]

For all the undoubted benefits of a process approach, many of the processes being modeled and implemented by organizations are not very “intelligent.” Many processes are mechanical and repetitive, often relying too much on human decision-makers. They are internally focused, driven by the organization’s own view of its transactions and structure. Relying on these processes [...]

I recently caught up with Andrea Scarso, co-founder and COO of MoneyFarm. MoneyFarm is a startup whose target is to modernize and democratize the European panorama of retail investment services, leveraging the opportunities offered by the web and by process automation. Andrea designed the main decisioning processes. What’s your background, how did you come to be working in analytics? [...]

Someone pointed out an old post of mine recently and, as they said it was particularly useful to them, I thought I would re-post it: Scott Cleveland had an interesting post this week on the single greatest benefit of BPM that included the information that 17% thought it was “Change business rules and processes without impacting underlying [...]

UPDATED 2/19/2015 for SAS® Decision Manager v 2.2 reflecting ongoing integration of capabilities into the core product as well as new features (in italics). SAS has announced its new Decision Management product – SAS® Decision Manager  – back in 2013 and it is now in version 2.2. Over recent years SAS sees an increasing focus [...]

Another solution session, this time Bob and Rick from IBM focused on IBM’s Signature Solution for Counter-Fraud, Waste and Abuse.  This is a classic Decision Management use case so I am looking forward to this one. Most fraud, they point out, is committed by insiders and goes undetected for 18 months. Frauds are also becoming a [...]

I wrote about FICO Model Central, FICO’s model management product, back in February of 2012. A new release, 3.0, is shipping with a new feature called Model Deployment Accelerator for rapid deployment. To recap, FICO Model Central automates analytic model compliance tasks, provides alerts and visualization to help you identify needed model updates, supports getting [...]

One of the sessions I am most looking forward to is next – Ryan Schmiedl and SAS’ view of Decision Management. Ryan kicks it off with examples of operational decision making – credit card approvals, car loan approval, claims payment. Decisions about transactions made in real-time or near real-time. These systems, Decision Management Systems, embed [...]

Silverlink – an update

Several years ago I did some work with Silverlink – speaking at a series of roadshows for their product – and I got an update recently. Silverlink focuses on helping healthcare organizations engage their members more effectively with personalized, multi-channel outreach. Silverlink works with health plans and pharmacy benefit managers to get their members to [...]

Berkeley Publisher – First Look

Berkeley Publisher is a product from Berkeley Bridge, a company based in the Netherlands. Founded by a group with experience in expert systems, especially in government systems, BerkeleyBridge has been focusing on “making knowledge profitable using intelligence software” since 2005, primarily in the legal domain. They are now focused completely on developing their platform as [...]

SAP NetWeaver Decision Service Management is designed to externalize decision-making logic from application code while still supporting deployment to an ABAP environment. Decision Service Management is installed on a central design system. This single system can support multiple deployment/integration systems – as long as they are connected to the central design system the data in [...]

I am often asked about the difference between decision support systems and decision management systems. This is an interesting topic and one that is central to the value proposition of decision management systems so I thought I would revisit it. All decisions involve a choice, a selection of a course of action from a set [...]

Experian has recently renovated their decision management platform – now called PowerCurve™. Experian’s clients generally need to achieve one of four goals – increase revenue through market share growth; controlling risk to manage exposure and reduce losses; increased operational efficiency; or compliance. These goals obviously drive you to using Decision Management Systems and to use [...]