Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

Jeff Bernstein of Strategem Portfolio Services gave an overview of the latest developments in collections. Jeff’s company has a product called Strategy Director (about which I blogged before). Jeff does a lot of work with collections groups and all too often sees a failure to implement analytics even where those analytic models are being developed [...]

The use of analytics in business decisions, presented by one of InfoCentricity’s customers, was next. In many organizations modelers are busy building predictive models that they then throw over the wall to a business analyst. To bridge this gap you need a collaboration platform that allows modelers to do their thing while allowing business analysts [...]

I wrote an introduction (and a brilliant one if I do say so myself) for a white paper called “Using Automated Decisioning and Business Rules to Improve Real-time Risk Management” that was produced by the folks at Equifax. You can download it using the link to the US Banker page. Enjoy.

Chris Skinner wrote a nice little piece on the Future Call Center over on the swift community. He had some nice examples, though he was focused on how the future call center might be using video. What struck me, though, was that decision making is critical to his example. Neither the avatar nor the video-linked [...]

Ed Garry of Oracle wrote a piece for Wall Street and Technology called Analytics Help Firms Turn Data Into Opportunity that I found last week. In it Ed talks about Real Time Decisioning platforms that “deliver both rules and predictive analytics to power solutions for real-time enterprise decision management”. Ed is, of course, correct though [...]

Thanks to my friends at Bankwatch I heard today about eBank in Japan. The bank is described in this nice article on swiftcommunity.net. What struck me about this was the focus on complete automation of decision making - not just the processes and information colleciton, but the decision making itself. Is this the person they [...]

A: www.youtube.com/watch?v=1zDwIfSDQiE
(Falcon, by the way, is the name of Fair Isaac’s fraud detection product that combines a neural network - a form of predictive analytics - with business rules and dynamic profiles to make real-time decisions about credit card fraud).

Naumi Haque wrote this nice piece on The future of consumer banking and it struck me how many of the things she suggests, with which I agree, require a broad-based adoption of EDM.
For instance she suggests a single financial cockpit - she calls it a dashboard but she wants to be able to do things [...]