I am giving a webinar on Boost Straight Through Processing in Your Claims System with Decision Automation at 10am Pacific on November 16. Register for this free webinar to see how you can automate decisions to handle more claims without manual intervention. Boost your Jet or Straight Through Processing rates to new heights to reduce costs, [...]
fraud
Neuro-ID TM started about 7 years ago with the premise that by monitoring how people use their keyboards and mice one could identify the confidence level of the person filling out the form. And that this could be done without any personally identifiable information. They developed a Neuro Confidence ScoreTM (Neuro-CS TM) which they have [...]
Equifax has been expanding beyond credit bureau data in recent years by providing better access to a broad range of their own fraud, employment, wealth, commercial and alternative data sources as well as 3rd party data to position themselves as an insights company. As part of this focus, their Decision Management platform, InterConnect, was rebuilt [...]
Enova Decisions was launched in January of 2016 as an outgrowth of Enova International’s existing technology and analytics capabilities, which are used to offer online consumer and small business loans to 11 brands in six countries including NetCredit and Headway Capital. Launched in 2004 as an online lender, Enova does all its own analytics for [...]
I recently got a chance to catch up with the IBM SPSS team for an update. Analytics, in IBM’s view and mine, are increasingly necessary as digitization increases the scale of business data and digital disruptors increase the difficulty of making good decisions. For those being disrupted analytics offers a powerful way to fight back. [...]
Final set of announcements at FICO World relates to Cybersecurity or Cyber Threat Analytics. Obviously cyber attacks are increasing and driving a lot of fraud and abuse – phishing, malware, personal record theft etc. The big challenge in all this is the timespan. 60% of data theft happens with minutes or hours of a breach but [...]
Continuing with product announcements at FICO World, next up is the new products for fraud prevention and compliance. Financial crime is on the minds of consumers right now with 2/3 worrying about having their credit card data compromised or having their accounts used fraudulently. FICO has launched a new FICO Consumer Fraud Control product. This [...]
FICO made a series of announcements today at FICOWorld 2016. The event kicked off with a fun retrospective of the 60 year history of FICO. Bill Fair and Early Isaac founded the company in 1956 to use data and analytics to improve decision-making. This focus has not changed really in all the years since – FICO is still [...]
Another product/solution focused session, this time on Cybersecurity. This is a relatively new product for SAS but they have production customers and an aggressive development plan. The core focus for this detecting attackers who are on a network before they execute their attacks. For instance in the Sony hack the attackers were probably on the network for [...]
Next up at the SAS Inside Intelligence event are some technology highlights, each based around a day in the life of a particular role. Much of this is under NDA of course. Ryan Schmiedl kicked off with a quick recap of last year’s technology – 150 significant releases across the SAS focus areas. In analytics for instance Factory [...]
I am at the SAS Inside Intelligence event in Steamboat getting the annual update on all things SAS. First session of the day is the Executive Viewpoint. Jim Goodnight and Randy Guard kicked things off. Creating a single global organization was a big part of last year with legal, finance, sales, marketing and more becoming global [...]
Predictive analytics is a powerful tool for managing risk, reducing fraud and maximizing customer value. Those already succeeding with predictive analytics are looking for ways to scale and speed up their programs and make predictive analytics pervasive. But they know there is often a huge gap between having analytic insight and deriving business value from it – predictive [...]
We have just posted a new white paper on Next Generation Claims Systems Decision Management delivers next generation claims systems that act immediately, increase agility, consistency and accuracy, improve customer satisfaction, speed response and reduce costs. Insurers can achieve significant speed-to-market gains, reduce fraud and create innovative new claims processes. Today’s insurance claims systems deliver [...]
I recently published a new article in the Teradata Magazine – Get Closer to Your Data If data holds the secrets to better business decisions, then advanced analytics is the means to getting data to reveal that information. That’s why organizations striving to be more data driven are adopting advanced analytics. New and improved techniques offer solutions [...]
An update next on IBM’s solution for counter-fraud. For IBM fraud involves an intentional act that misrepresents and is both illegal and designed for financial gain. They further divide this into organized and opportunistic fraudsters for whom different kind of detection is required. Fraud is growing problem because: Fraud schemes are increasingly sophisticated with organized crime moving [...]
Glenn finch and John Murphy talked about deepening business relevance. The challenge, he says, with much of the work around analytics and data is how easily it drops into discussions of security, integration, scalability, performance etc. What clients care about though is business relevance – business value – being created by the use of this plumbing. [...]
Experian’s PowerCurve platform was released in 2012 (I blogged about it here) and has been expanding and rolling out since then. It consists of a set of Data Management and Decision Management capabilities supporting a set of application across Originations, Customer Management and Debt Management. Fraud prevention and identity verification capabilities can be integrated with [...]
TDWI just published a new article of mine on Moving to Real-Time Decisions (it’s in a members-only newsletter so you will need to be registered to view). When it comes to analytics, many organizations focus on using analytic insight to improve executive decision making. Yet there is often an even greater opportunity when using analytics [...]
A few extra items on IBM’s mobile strategy from a panel here at IMPACT: IBM’s Worklight Platform is continuing to evolve (see this review of their MobileFirst portfolio) with a focus both on providing great middleware for native apps and support for hybrid applications. Recent improvements include QA tools, running the Worklight foundation in the [...]
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 [...]