Category Archives: Analytics & Optimization

Analytics & Optimization Using Xpress Insight to Operationalize Analytics

xpress insight

Operationalize Analytics: Xpress Insight turns advanced analytic assets into a fully functioning application for business users. Industry Today recently asked me to contribute an article about getting the maximum value out of analytics. And, in my experience, the biggest hurdle to maximizing the use of data to create greater business value is being able to operationalize analytics throughout an organization. This means creating a collaborative, scalable, transparent process for getting advanced analytics out of the lab and into the everyday business, this is the only way to truly operationalize and get maximum business value from analytic investments. I wanted to follow the article up with a specific example of something we offer at FICO, and that’s Xpress Insight. Xpress Insight is a decision support application that enables data scientists to rapidly deploy any advanced analytic or optimization model as a business application. Across industries, data scientists create powerful models to solve... [Read More]

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Analytics & Optimization Banking AI: 9 in 10 APAC Banks Feel They Lag US & Europe

Banking AI

Banking AI – APAC Survey We recently surveyed 33 chief risk officers from across Asia Pacific at our CRO Forum regarding the operationalizing of banking AI. We found that 91 percent of banks in Asia Pacific (APAC) felt they lagged behind banks in the US and Europe when it came to implementation of AI in their operations. The remaining 9 percent indicated that they were at least on par with US and Europe counterparts, while not a single respondent felt they were ahead. When asked about the biggest challenge in adopting AI and machine learning into existing bank operations, 42 percent indicated that it was the lack of available talent. The use of legacy systems (28 percent) came in second, followed by cost (16 percent). Banking AI – Operationalizing AI “The shortage of talent continues to be an issue worldwide as the use of AI continues to grow quickly,” said... [Read More]

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Analytics & Optimization Australian Home Loans – Why Analytic Pricing is Essential in 2019

residential mortgage pricing optimization

The Australian Competition and Consumer Commission (ACCC) handed down its final report on the Residential Mortgage Pricing Inquiry and it certainly had a lot to say about the current pricing of Australian home loans. The inquiry was initially set up to monitor the implementation of the Commonwealth Government’s Major Bank Levy in May 2017. The inquiry tasked the ACCC with monitoring Australia’s five largest mortgage lenders, each of whom was subject to the levy. Whilst their primary remit was to the monitor the conduct of the banks during the Bank Levy monitoring period, the ACCC also took a more holistic review of pricing practices throughout the industry and responses to regulatory events over the same period. The findings of the report centred on the following themes: The use of discretionary pricing and its lack of transparency Larger discounts going to those customers who are willing to shop around The additional... [Read More]

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