Brazil’s third largest private bank wins FICO® Decisions Award for Decision Management Innovation
- 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
March 14, 2019 — Santander Brazil can now deploy or change new lending strategies and new analytic models in half the time using the FICO® Decision Management Suite. The bank, which is the country’s third largest private bank and represents close to 30 percent of Santander Group’s global revenues, has reduced the workload for its IT group while gaining the ability to quickly respond to market changes and requirements. For its achievements, Santander Brazil has won a 2018 FICO® Decisions Award for Decision Management Innovation.
Santander Brazil began this journey toward a more integrated decision platform in order to adapt more quickly to the market, and also to take advantage of unstructured data and new analytics technologies, such as Python.
“We had to improve our time to market for our new strategies to quickly respond to market changes and better serve our clients,” said Francisco Munoz, associate director of Enterprise Risk Management. “To do that, we needed a solution that depended less on our IT group, and that would give our business users the power to build, change and promote strategies. Our framework of 28 decision engines across the bank, all implemented on mainframe technology, could not provide the flexibility and speed we needed.”
After a review of the market, Santander Brazil chose the FICO® Decision Management Suite to extract, transform their raw data from data lake and provide real-time decisioning capabilities. The platform was chosen due to its flexibility and robust ability to support the bank’s digital transformation.
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 Nikhil Behl, vice president of Marketing at FICO. “Santander Brazil has impressive early results from using the FICO solution, which should continue to streamline and improve the bank’s decision processes.”
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 at Chartis Research
- Tanya Andreasyan, editor-in-chief, FinTech Futures / Banking Technology
- Anna Milne, editor at Finextra
- Julie Conroy, research director for Aite Group’s Retail Banking practice
- Andras Cser, principal analyst – security and risk professionals at Forrester
- Mon Pernia, head of consumer collections, Globe Telecom (2017 winner)
- John Rymer, principal analyst – application development & delivery professionals at Forrester
The winners of the FICO Decisions Awards will be spotlighted at FICO® World 2019, the Decisions Conference, November 4-7 in New York City.
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 190 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
Learn more at http://www.fico.com
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