Santander Brazil Deploys New Strategies in Half the Time with Centralized Decision Engine from FICO
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Highlights:
Santander Brazil has reduced the time to deploy or change lending strategies and new analytic models by 50% using FICO® Decision Management Suite- By using FICO Decision Management Streaming the bank has also been able to better leverage its data lake and Python code
Santander Brazil won a 2018 FICO® Decisions Award for Decision Management Innovation
https://www.fico.com/en/products/fico-decision-management-suite
"We had to improve our time to market for our new strategies to quickly respond to market changes and better serve our clients," said
After a review of the market,
The solution has been used to transform raw variables into ready-to-use variables in the bank's data lake, building a "variable shelf". The Decision Management Suite is connected directly to the bank's Big Data and other data sources and is able to quickly access new types of data and supply them to the bank's risk decisioning process. The risk team has also been able to deploy new forms of analytical models (Python) in the bank's real-time risk decisions.
While the first risk decision engines are in production and new engines are being rolled out to the platform, the bank has already been able to estimate gains that the platform is bringing to their operation:
- 80 percent reduction in internal costs for development of new projects (and strategy updates)
- 50 percent reduction in of time-to-market of new projects, new decision strategies and new analytic models
- 60 percent reduction of dependency on IT through more empowerment and higher independence of the business users to implement new strategies
- 80 percent reduction in training (from five months down to one) through standardization of programming language and consolidation of decision engines
- 70 percent reduction in incidents with operational risk
"Along with our quantified benefits, we have the possibility to use this platform for other business units at Santander and other kinds of decisions," Munoz said. "The FICO system has brought us all the benefits of a single, advanced decision platform for our business."
"Centralized decisioning is one of the hot fields in software today," said
About the FICO® Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measureable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2018 judges are:
Sid Dash , research director atChartis Research Tanya Andreasyan , editor-in-chief, FinTech Futures / Banking TechnologyAnna Milne , editor at FinextraJulie Conroy , research director forAite Group's Retail Banking practiceAndras Cser , principal analyst - security and risk professionals atForrester - Mon Pernia, head of consumer collections,
Globe Telecom (2017 winner) John Rymer , principal analyst - application development & delivery professionals atForrester
The winners of the FICO Decisions Awards will be spotlighted at FICO® World 2019, the
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in
Learn more at http://www.fico.com
FICO is a registered trademark of
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SOURCE FICO
Greg Jawski, Porter Novelli for FICO, +1 212-601-8248, greg.jawski@porternovelli.com