A credit agency rolls out customized solutions in hours instead of weeks
Customer Company Size
Large Corporate
Region
- Europe
Country
- United States
Product
- IBM Operational Decision Management
Tech Stack
- IBM Operational Decision Management software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Quality Analytics
- Predictive Replenishment
Services
- Software Design & Engineering Services
About The Customer
The organization is a consumer credit reporting agency with operations in North America, Europe and Latin America. It uses information from several external sources to create information-based products and services for financial institutions, corporations, governments and individuals. The credit agency continuously strives to help its customers make better business decisions. For example, in addition to providing credit ratings, it wanted to be able to offer its customers, such as credit card companies and banks, more effective and targeted up-sell and cross-sell suggestions for consumers based on their recent financial history.
The Challenge
The credit agency wanted to improve its decision management processes to increase the value of the products and services it offers its customers. The agency wanted to offer its customers, such as credit card companies and banks, more effective and targeted up-sell and cross-sell suggestions for consumers based on their recent financial history. The agency also wanted the ability to stay on top of consumers’ financial ratings after they received credit to help minimize risk for the lender. A key challenge in developing the agency’s systems was giving their customers the ability to rapidly make changes to their credit risk decisioning policy. This would improve their hit rates, improve the products that they’re selling and increase their revenue for the products that they’re offering.
The Solution
The agency used IBM Operational Decision Management software to create a solution that gives customers greater control over business rules. The agency then used the IBM Operational Decision Management software to create a business rules solution that can enable better automated decision making. Using the solution, the organization created two workflows for the analytical algorithms it uses to analyze an applicant’s eligibility for a checking account. The “champion” workflow includes tested, proven algorithms, and the “challenger” workflow contains new algorithms that need to be assessed. The system collects data on how the algorithms within the challenger and champion workflows are performing. The agency can then decide to remove algorithms from the challenger flow or, if the challenger flow is outperforming the champion flow, the company can switch to the more effective challenger flow. The IBM platform makes it easy for business users to make these changes themselves without involving IT.
Operational Impact
Quantitative Benefit
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