Off-line vs Real-Time Analytics: Where is the Industry Heading?

Financial institutions are demanding real-time analytics at their point of customer interactions. For years, we have been advising our clients to connect their front-end customer facing systems with real-time pricing analytical capabilities, or at least lay the foundations to enable this capability in the near future. According to Gartner Research (1) “Between 2016 and 2019,…

Challenging The Status Quo: How Banks Can Win In The PSD2 World

In less than six months, the second Payment Services Directive (PSD2) will have been implemented into law in all European Union member states. The Directive is a landmark moment in banking, introducing competition to the payments market and overturning the status quo. In the PSD2 world, banks will not only compete with each other, but…

Are You Making these 7 Mistakes When Deploying Your Models?

I am always excited to see more organizations wanting to use analytical models at the center of their business processes. Like most things in life, the road to success is not straight; sometimes there are a few road bumps to navigate. The same is true for integrating models into the production environment. For instance, even…

A Solid Analytical Solution: Analytical Sophistication

For financial services organizations as well as insurers, analytical sophistication continues to increase in importance as margins continue to shrink. With minimal margins on the majority of products and services, extracting insight from data using analytics is crucial to meeting company objectives. In this third post of a three-part series, we will look at what…

CBA LIVE 2017: A Time to Transform

Banks and Financial Services companies are thinking BIG – around how to transform to meet the needs of the new digital consumers that exist in the shared economy of today. These digital consumers span five generations, each expecting to be communicated to in slightly different ways. In order for financial services companies to meet expectations…

How to Transform Your Models into a Fully-integrated Analytics System

More than ever before, financial service organizations are using analytical models to power their core business processes. Ever-higher customer expectations together with new market players are some of the drivers that are responsible for accelerating the pace of change in the market. This calls for business decision makers to react quickly if they are to…

On the Breakfast Menu: AI and Prescriptive Analytics in Financial Services

In early March, Earnix hosted an executive breakfast in New York for consumer banking executives who work with analytics related to offer management and pricing. Two speakers presented their views on the state of analytics in financial services. One provided a long-term vision of using Artificial Intelligence (AI), and the other, offered down-to-earth practices of…

A Solid Analytical Solution: Operational Excellence

Over the last month or so, I have read numerous blogs that deal with forward-looking trends for 2017. While each blog has its angle, one cannot miss the huge role being placed on data analysis and analytics. As such, at the end of last year I started a three-part blog series around what it takes…

11 Best Practices for Building a Successful Production System

For us data scientists, the benefit of using statistical modeling and optimization techniques for our business is clear. Although we spend our days coding in SQL, python, R or other frameworks and our models are a software code or some nice mathematical function, our aim is to use sophisticated statistical models to analyze our business…

A Solid Analytical Solution: What Matters Most?

Insurers and financial services organizations are constantly looking at how best to put predictive and prescriptive analytics to use inside of their organizations. In this day and age of so many different flavors and varieties of analytical platforms, it can be challenging for buyers inside of financial services and insurance organizations to fully understand the…