Compliance

The Rule Management Group presented next to the OMG meeting on Decision Model Notation. The Rule Management Group is a Dutch firm focused on how to extract business logic from various sources when building decisions – especially on how to extract logic from text documents. They typically work with legal documents and legal experts to [...]

I got a chance to catch up with Kount recently, a 4 year old company that is a wholly owned subsidiary of Keynetics (a 13 year old e-commerce company) focused on preventing fraud in e-commerce. They offer an all-in-one SaaS solution aimed at detecting fraud fast (intra-transaction real-time) while giving customers flexibility and usability. They [...]

Focus of the presentation from Russ Cobb was Banking, Insurance, Retail and Government. Banking first. Lots of releases this year primarily around Enterprise Risk Management, Governance Risk Compliance, Customer intelligence, fraud and financial crime solutions. Key customer issues for SAS in banking: Customer Growth How do you identify, grow and manage your most profitable customers. [...]

A client of mine – Fiserv in Norcross GA – is looking a Decision Management Architect. This individual will be required to: Partner with Fiserv Business Units and 3rd parties/partners to lead and facilitate the definition of a robust & scalable technical architecture foundation for the solution that would meet business requirements and vision of [...]

Insurers face an explosion of direct sales channels: websites, mobile and call centers, with the rapidly evolving world of social media opening up even more opportunities. Driving consistent customer treatments and profitable direct sales across dynamic distribution channels, while effectively managing risk, is a huge challenge. As Deb pointed out, linking all customer communication together [...]

Insurers face new and growing challenges as the market moves into recovery in 2011: more delivery channels, demographic shifts, a changing competitive landscape and a rapidly evolving regulatory and compliance environment. Many insurers are faced with meeting this challenges hampered by inflexible legacy applications, underutilized data from internal systems and external sources, and manual spreadsheets [...]

I got my first look at Verix recently. Verix targets the commercial side of Pharmaceutical companies – sales first, then managed care and then marketing. They are trying to shift the burden of analysis work from sales managers, sales consultants to automated systems. They started with a core analytic competency and it evolved over time [...]

I followed up with Steve Culp of Accenture about their announcement of a new Risk Management practice earlier this year. Obviously Accenture has been doing risk management for a long time but they have now brought together people who were already working in this space in different verticals and in their information systems practice as [...]

Eugene from SARS, the South African Revenue Service, presented next on how SARS is using BI in revenue collection. He began by pointing out that there is a difference in how public sector organizations use BI – a focus on service delivery not profits, on taxpayers not customers, enforcement campaigns not marketing campaigns and so [...]

Eugene from SARS, the South African Revenue Service, presented next on how SARS is using BI in revenue collection. He began by pointing out that there is a difference in how public sector organizations use BI – a focus on service delivery not profits, on taxpayers not customers, enforcement campaigns not marketing campaigns and so [...]

Several sessions this afternoon on data quality and governance. Rather than blogging these separately, here are some thoughts: Great illustration of data quality problem having a business impact – bad data led a Telco to prepare a large CapEx project to add bandwidth capacity but a physical inspection showed plenty of actual capacity. Bad data [...]

Syndicated from Smart Data Collective Risk management is an important topic for many organizations, especially those in financial services. Most of these organizations acquire risk one customer, one transaction at a time – this customer is not going to be able to pay (risk), this transaction is fraudulent (risk), this deal will not make money [...]

Syndicated from ebizQ This week I am discussing the characteristics of a decision-centric platform. Because compliance is essential in decision making, the traceability of decisions and decision making logic to the organization’s objectives, regulations and policies is essential. Business users changing decision making must understand how that change will impact the organization, how it supports [...]

Syndicated from ebizQ This week I thought I would write about decision-centric organizations. Organizations face many challenges in today’s business climate. Organizations whose success or failure is determined by the decisions they make (which claims to pay, which customers to target, which transactions to investigate for fraud) are handicapped by systems that are centered on [...]

I got a chance to catch up with the folks from Red Hat recently. I have reviewed the new functionality that Mark Proctor and his team have been adding to turn the old Drools rule engine into a competitive Business Rules Management System or BRMS when the latest release came out. This time we chatted [...]

Neeraj asked me an interesting question the other day – how would a decisioning product like Oracle RTD and a business rules engine co-exist? Rather than answering this specifically I thought I would try and generalize it. After all there are products like Unica and Chordiant that also offer decisioning engines that are not general [...]

The second full day of the Business Rules Forum/Enterprise Decision Management Summit is over and once again I have been taking notes rather than blogging live. Once again there were some great sessions – today I heard Steve Hendrick of IDC, Sandeep Gupta of Equifax, Chaitan Sharma of DAASL, Zach Springborn of OneData and Mo [...]

Another customer panel courtesy of SAS. This one had Rex Pruitt from Premier Bankcard (I blogged about how Premier put predictive analytics to work and Rex presented at Predictive Analytics World), Chris Swecker formerly of the FBI/Bank of America, Cameron Jones SAS’ Chief Compliance Officer and was moderated by Ellen Joyner. Fraud, obviously, is a [...]

Jim Sinur introduced the session by describing how Gartner saw BPM being used to turn a cost reduction axe into a cost reduction scalpel during the recent recession – cutting more precisely. The current economic climate he says is “nirvana” for BPM and BPM is not perceived as a luxury but a necessity. The session’s [...]