In March 2023, three U.S. banks failed. This triggered a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion. Banks across the US scrambled to respond to the crisis. Join me on May 24th for a discussion on how you can protect your business and be prepared [...]
Financial Services
It’s been a while since I did a product review on the blog, but I recently caught up with the team at Zoot and thought a blog post was in order. Zoot, for those of you who don’t know them, deliver capabilities and services for automated decisioning across the customer credit lifecycle. They’ve been at [...]
Ginni Rometty kicks off the main event with her opening keynote focusing on putting smart to work. Her premise is that everything could be changing now because business and technology architectures are changing at the same time – something that does not happen very often. The opportunity is for exponential change across all businesses thanks [...]
My friends at Actico recently had me record some videos on Decision Management and decision modeling with DMN. Here’s the first – 3 reasons why financial and insurance companies should adopt Decision Management. Enjoy.
I am speaking at an event in Switzerland, September 21 at 4pm CET at the Swiss Exchange in Zurich. I am talking about Successful digitalization and automation in the financial and insurance industry: State-of-the-art methodical approaches help companies succeed at digital transformation. Besides efficient IT architecture concepts, the Decision Model and Notation (DMN) standard plays an increasing [...]
I am giving a webinar on Wednesday, August 2, 2017 at 1:00 PM EDT about 3 Critical Elements of a Digital Business Platform Enterprises increasingly demand digital implementations that differentiate them from their competitors. Digital Business Platforms deliver this differentiation by coordinating goal-directed work and supporting the intelligent interaction of people, software, and machines. These Digital Business Platforms [...]
I am giving a webinar on Success in Customer Next Best Action: Decision Modeling, Rules and Analytics Thursday, May 18, 2017 10:00 AM PDT Digitizing, personalizing and improving customer interactions is critical to business growth, customer retention and market engagement. Executives want to ensure that every interaction with every customer adds value – they want [...]
I am participating in a webinar Building Outstanding Customer Relationships: Delivering Relevant Next Best Actions for Retail Bank Customers on September 21st at 12 Noon Eastern/9am Pacific with Steven Noels of NGDATA. Next best action marketing is a tactic that has been around for a while, but few marketers have been able to fully take part [...]
One of my students (from the UCI Extension Predictive Analytics Certificate in which I teach Business Goals for Predictive Analytics) sent me this article on Toyota Financial Services and its use of data science, predictive analytics, in collections. It’s a great example of how to use analytics to improve your business outcomes and well worth a [...]
Jan Purchase of LuxMagi and I are working away on our new book, Available now! Real-World Decision Modeling with DMN and I wanted to take a moment to talk about why Jan and I are the right people to be writing this. Our aim is to provide a comprehensive book that explains decision modeling as well as the DMN standard and [...]
I got a chance to hear Roger Burlton and Sasha Aganova of the Process Renewal Group talk about a recent case study of theirs concerning risk and management and processes. This is a hot topic of course with new regulations and new requirements for financial services firms. Compliance with these risk management regulations, though, can’t be seen [...]
Gagan Saxena, also of Decision Management Solutions kicked off the first day of sessions for me at this year’s Building Business Capability show in Las Vegas. Gagan has been working on a large financial services client’s regulatory initiative and presented on the role of decisions and DMN-based decision models on regulatory compliance. A business architecture [...]
A long time ago I came across a company called Erudine and blogged about the Erudine Behaviour Engine. At that time, Erudine came out of the defence, aerospace and nuclear power industries where the slightest mistake can lead to disaster. Today, Erudine’s more recent focus has been in the banking, financial services and investment sectors. [...]
The second annual Decision Camp, a conference on Decision Management best practices and technologies, will be held at the eBay/PayPal Campus in San Jose, October 13 – 15, 2014. This is a great event that is free to practitioners that got started last year with a very successful first event. The event will feature sessions for all [...]
I got an update from Zoot recently about their zDecision product (having last been briefed back in 2012). First, a quick update on Zoot: They are focused almost entirely in the financial services industry, especially on lenders. Their products are designed to be very flexible and so support the kind of out of the box [...]
FICO has recently acquired InfoCentricity, makers of two advanced analytics products – Xeno (for building predictive scorecards, reviewed here) and StrategyTrees (decision trees). InfoCentricity has about 40 clients (some with over 100 modelers, some smaller). Most of these companies are also FICO clients though not generally for analytic modeling tools. Clients use the tools in [...]
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 [...]
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 [...]
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? [...]
The white paper of the week this week is Responsive Customer Engagement in Banking Relevance, real-time and recency drive improved customer engagement. Banks are facing new competitive dynamics, increasing regulatory requirements, and more demanding customers. Building share of wallet with existing customers is critical to future growth. Banks must create responsive customer engagement by delivering [...]
