the right time for right decisions
the organisation could still operate – the data warehouse
was not mission critical. But today the data warehouse
MOMENTS OF TRUTH
is used to drive operational decisions such as the best
“There are key moments of truth in financial
offer for the customer, fraud detection and prevention
services organisations. One of Teradata’s
and anti-money laundering decisions. The emphasis is
customers exploited one relating to the ATM
now on, for example, detecting and preventing fraud as
experience. When a customer goes to an ATM
it is happening rather than having a report on how much
and his bank account doesn’t have quite enough
money I lost in fraud last month. That’s a big difference
funds to cover his required withdrawal, what does
and it creates a different service level for availability of
he do? That’s a point of stress for the customer.
information systems. So imagine a real-time decisioning service that says
the customer just asked for two hundred dollars which
I think the distinction today is not a data warehouse
is beyond the limit on their account – can we assess
versus an operational system. The distinction is between
their risk at that moment of time and decide whether
the systems which do the bookkeeping and manage
we can allow that full two hundred dollars to be given,
work flows, and the analytic systems which deliver
with their approval and with an appropriate fee? This is
decisions. Best in class organisations can interoperate
a moment of truth for the particular bank. It generated
these capabilities using decisioning services and service
millions of dollars income and a customer experience
orientated architecture
1
frameworks which have recently
which was differentiated and created loyalty.”
emerged into the industry. Stephen Brobst
BW» What are the big trends in decisioning?
plays an important role here because the basis upon which
SB» There are increasing requirements for up to date my bank can make decisions, make me the right offer
data. Large financial services organisations now update and provide me with an excellent customer experience no
their data warehouse at least on a daily basis if not longer involves human judgement or contact as much as
multiple times per day. Service level requirements from the it did. It involves leveraging data in order to figure out what
data warehouse infrastructure are also becoming much to do in each individual customer situation.
more aggressive and there is increasing automation of
decisioning services – with more focus on alerting and
events being detected automatically.
consumer expectations are increasing
Another important trend is the disintermediation of brokers dramatically and consumers are no
evident across many industries. Social networks are
longer prepared to be part of mass
becoming more important and third party intermediaries,
such as real estate brokers, travel agents and financial
treatment plans
advisers are becoming less important. Decisioning services
Perspectives on technology | 1
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