Financial Services

Managing risk and maintaining customers – what’s the common denominator?

A single composite view of the customer

Customer retention and risk management are two strategies critical to the growth of financial services organisations in the next decade. In most institutions these are viewed as two distinct entities but there is a common denominator that underlies their success. And that is, for either strategy to be realised, a single composite view of the customer is imperative.

The Infinity solution for financial services breaks down the barriers which have long prevented organisations from achieving the holy grail of a single view of the customer. There are five key things which make it different:

Combining Information, Inside and Out

Infinity fuses structured and unstructured information from data sources both inside and outside the organisation.

Achieving a composite view of the customer is no longer limited to breaking down the silos of information that exist within disparate enterprise applications. Institutions must be able to harvest critical information from credit analysts, rating agencies, trading partners, outsourcers, software-as-a-service providers, public data and open intelligence sources.

Infinity has been designed to do this; to gather data and fuse information from multiple sources including:

  • Structured data from internal legacy enterprise applications and databases
  • Unstructured data from internal sources – e.g. PowerPoints, pdf documents, excel spreadsheets and so forth
  • External data from subscription services and public data sources – e.g. companies offices, share registries, credit rating analysts, merger and acquisition databases, central statistics information and others
  • Open intelligence sources

Infinity’s core competency of harvesting structured and unstructured data from diverse sources is fundamental to achieving a single view of the customer and to the effectiveness of risk management and customer retention strategies today.

Creating a Common Format

Infinity automatically maps data harvested from diverse sources into a common format enabling effective analysis and uncovering intelligent customer insights.

Information from diverse sources resides in different formats. Traditionally assimilating and analysing data in multiple formats has been a tedious, manual and inexact process.

The Infinity solution overcomes these barriers with the automated ability to transform multiple formats of information into a common form. A common format brings a real depth to the information sources that can be tapped for insights and enables links and patterns to be revealed that previously would have been impossible to uncover.

Access to information from internal legacy sources is achieved without interruption or impact to either the systems themselves or the business processes they support.

Conversing in Multiple Languages

Infinity translates and indexes data into multiple languages – breaking down regional boundaries.

The tentacles of a customer’s business interests traverse many geographical locations and as a result critical information about the customer from open intelligence or public data sources may be in foreign languages. Infinity caters for the multi-lingual environment, allowing data sources to be indexed and translated.

The multi-lingual capabilities of the solution bring a truly global aspect to creating a single and composite view of the customer.

Creating Insights and Uncovering Links

Infinity transforms information into intelligence – using state of the art analytics to make light work of revealing links and recognising patterns.

Intrinsic to the value of the Infinity solution is its ability to uncover patterns, links and relationships across the volumes of data it mines. In short, it has been designed to find everything associated with a customer even if, on the surface, the link is not apparent.

The solution achieves this by applying logical but non-exact matching algorithms, contextual and taxonomy-based searching methodologies to uncover and maximise the customer insights gleaned. Probability-based ranking and risk-based scoring ensures that insights presented to business analysts are prioritised in importance.

Complementing existing technologies

The Infinity solution has been designed to complement organisations’ existing technology investments.

The Infinity solution has been designed to work with and complement whatever CRM or risk management technology investments an institution has made. Infinity complements what’s there and adds the proven capability of traversing public data, open intelligence sources and unstructured data to enrich the customer information residing in legacy applications and maximise the intelligence available to drive optimal decision making.

As a standalone solution or as a complementary addition there can be no dispute that the Infinity solution is the critical missing link in the pursuit of a single composite view of the customer in financial service institutions today.