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Financial Services

Collections Best Practices

September 23, 2008

Jeff Bernstein of Strategem Portfolio Services gave an overview of the latest developments in collections. Jeff’s company has a product called Strategy Director (about which I blogged before). Jeff does a lot of work with collections groups and all too often sees a failure to implement analytics even where those analytic models are being developed [...]

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From Scores to Strategies

September 23, 2008

The use of analytics in business decisions, presented by one of InfoCentricity’s customers, was next. In many organizations modelers are busy building predictive models that they then throw over the wall to a business analyst. To bridge this gap you need a collaboration platform that allows modelers to do their thing while allowing business analysts [...]

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White Paper available on decision management in credit

September 15, 2008

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.

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Using Decision Management to power the call center of the future

August 19, 2008

Chris Skinner wrote a nice little piece on the Future Call Center over on the swift community. He had some nice examples, though he was focused on how the future call center might be using video. What struck me, though, was that decision making is critical to his example. Neither the avatar nor the video-linked [...]

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Analytics turn data into opportunity (article)

July 21, 2008

Ed Garry of Oracle wrote a piece for Wall Street and Technology called Analytics Help Firms Turn Data Into Opportunity that I found last week. In it Ed talks about Real Time Decisioning platforms that “deliver both rules and predictive analytics to power solutions for real-time enterprise decision management”. Ed is, of course, correct though [...]

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Is eBank the future of banking?

July 16, 2008

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 [...]

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Q: What do you get when you cross EDM and a raptor?

July 15, 2008

A: www.youtube.com/watch?v=1zDwIfSDQiE
(Falcon, by the way, is the name of Fair Isaac’s fraud detection product that combines a neural network – a form of predictive analytics – with business rules and dynamic profiles to make real-time decisions about credit card fraud).

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The future of consumer banking needs EDM

July 11, 2008

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 [...]

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Here’s a really cool way to use your ATMs!

July 2, 2008

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 [...]

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Intalio 2.0

June 18, 2008

Ismael Ghalimi presented his vision of “what’s next” and started with some history. In 1998 he started work on what he now calls “Office 2.0″ and, while prototyping ideas, he met the other founders and started to put together a plan for a platform that would allow him (a self-confessed poor programmer) to build web [...]

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Lessons Learned from BPM Deployments

May 23, 2008

Ken Vollmer kicked off the last day of the event with a view from the field – a survey on BPM that Forrester did at the end of 2007. The theme is that “BPM has already achieved mainstream status inside of most enterprises but we still have a long way to go to achieve the [...]

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Live from InterACT – Closing Keynote

April 30, 2008

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 [...]

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Live from InterACT – Changing the game

April 30, 2008

A collections session next with folks from Adeptra, Fair Isaac and GE Money talking about GE’s vision for virtual collections. The collections environment is extremely bad this year with massive growth in the need for collection agents. Delinquencies are up, problems are up, consumers are stressed. Scores are worsening (credit profiles are worse), payments are [...]

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Live from InterACT – An Enterprise Decision Engine for Originations

April 30, 2008

Wednesday begins with Antonio Paulo Conde from Citibank Brazil talking about an enterprise decision engine for originations in their retail bank.   Measuring and understanding the risk of new financial products is important and became more so as the sales teams gained more negotiation power. To address this Citibank used Blaze Advisor to build an [...]

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Live from InterACT – Optimal Pricing

April 29, 2008

Last full session today is Lisa Kart and Jean Zoch of Fair Isaac talking about optimal pricing – balancing profitability with competitiveness. Lisa’s focus, she says, is on what makes price optimization work. Price optimization is a very broad topic, even in financial services, but their focus is on being able to target price for [...]

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Live from InterACT – The Mortgage Crisis

April 29, 2008

Interesting session on the Mortgage Crisis next, subtitled “Implications for a Global Economy”. Joe Breeden of Strategic Analytics and Daniel Melo of Fair Isaac. Joe started by saying that this is the 3rd time this has happened in the last 16 years. And, as before, it’s not just about mortgage and it’s not just about [...]

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Live from InterACT – Using Risk Applications to Drive Growth

April 28, 2008

Next up Discover and Fair Isaac talking about Discover’s Enterprise Decision Management initiative. Dave Wodall from Discover co-presented with Xun Shao of Fair Isaac. Discover use Blaze Advisor (rules), Model Builder (analytics) and Decision Optimizer (portfolio optimization). Discover was launched in 1985 and, like Amex, has both the network and the consumer relationship. 50M members, [...]

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Is your ATM a sales channel yet? And should it be?

April 4, 2008

My friends over on the Diamond Analytics blog posted an update to an old post today where they talked about some recent instances where the ATM is being used as a sales channel. Ron Shevlin had a good comment on the original post about the appropriateness of the channel given queues, screens etc. so I [...]

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Live from DAMA – Case Study: Implementing a Securities Master Using Flexible Data Models at Lord Abbett

March 20, 2008

Almost done now and next up is Len from Universal Data Models talking about a Case Study: Implementing a Securities Master Using Flexible Data Models at Lord Abbett. Lord Abbett is a securities company and a very old, established one at that, who regard securities trading as a craft deserving of excellence. Manage $112B in [...]

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Live from DIALOG – Flexibility, Scalability and High Performance

February 26, 2008

My next session was on Flexibility, Scalability and High Performance with James Reid of Equifax. The application being discussed is the Equifax InterConnect Platform (part of their risk solutions, described here), a hosted SaaS solution that handles risk-based decisioning, especially credit risk. InterConnect is their decisioning platform for credit and lending and is designed to [...]

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