CHAPTER 4
The Modern Data Ecosystem
“Sometimes it’s the journey that teaches you a lot about your destination.”
– Drake
Of course, every company would like to minimize the number and size of its customer delinquent and default payments. One firm that has actually been accomplishing that is Danske Bank, a leading financial institution in northern Europe with five million customers.
Thanks to advanced analytics and the use of a variety of data – not just information from customers, but also from external sources like credit bureaus – Danske Bank is able to better predict whether a particular loan applicant will default within a year. Moreover, the company is able to respond quickly to any loan application, 24 by 7 by 365; the bank doesn’t simply respond with a denial or approval, but with specific credit limits that are both fair and accurate.
To accomplish this, Danske Bank has deployed a leading-edge commercial analytic platform...