IBM Case Studies A credit agency rolls out customized solutions in hours instead of weeks

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	A credit agency rolls out customized solutions in hours instead of weeks IBM

A credit agency rolls out customized solutions in hours instead of weeks

IBM

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
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

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

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.

About 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.

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.

Impact #1	The agency’s customers can now make policy changes within hours instead of weeks.
Impact #2	The agency itself decreased by 88 percent the amount of time required to create credit assessment reports.
Impact #3	The agency has been able to use the solution as a selling point with potential customers.

Impact #1

The agency’s customers can now make policy changes within hours instead of weeks.

Impact #2

The agency itself decreased by 88 percent the amount of time required to create credit assessment reports.

Impact #3

The agency has been able to use the solution as a selling point with potential customers.

Benefit #1	Reduced the time required to create credit assessment reports by 88%.
Benefit #2	Reduced the time to implement a process change from three to four weeks to anywhere from five minutes to a day.
Benefit #3	Reduced the development time from six to eight weeks to about five days.

Benefit #1

Reduced the time required to create credit assessment reports by 88%.

Benefit #2

Reduced the time to implement a process change from three to four weeks to anywhere from five minutes to a day.

Benefit #3

Reduced the development time from six to eight weeks to about five days.

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Overview

A credit agency rolls out customized solutions in hours instead of weeks

Operational Impact

Quantitative Benefit