Decision making software replacement

Heart Transplantation Successfully Completed

Managing business processes prudently, quickly, and efficiently has recently become the key condition for achieving strategic advantage for business. Time and data are the most valuable resources nowadays. The quicker you get the data and process it, the more effectively you can respond to a situation. 

Our client – the largest financial corporation in Russia – found out that its existing software system that supports decision-making in the organization has become a bottleneck. It essentially reduced the Bank’s efficiency and competitiveness. Replacing the Bank’s decision-making tool became vital and urgent.


About the client

Our client is a Bank that serves customers in a european country. The Bank attracts deposits and offers a range of financial services. It provides retail, commercial, leasing, investment banking, asset management, and private bank business consulting.


Project background

The Bank’s management decided to replace the existed out-dated CRIF StrategyOne with a new business decision-making software solution. For successful transplantation, a team of skillful “surgeons” was needed as well as a new high-quality “transplant.” That is the effective, flexible, and reliable Business rule management system (BRMS).

The Bank selected solutions from three vendors – SAS, Experian, and FICO – leaders in the decision-making software market. Due to multiple successful project implementations, RNDpoint was recommended by FICO as a participant of a close bid to represent its products. 

The Bank’s experts carefully scrutinized tender participants’ history to choose the best one for the upcoming “surgery.” In addition, all participants had to provide relevant references. RNDpoint’s team decided that seeing is believing. The Bank’s representatives were invited to see how our other “patient” with transplanted BRMS feels. Instead of written references, the Bank got a live example of how FICO® Blaze Advisor – transplanted by our experts – pumps the blood of decisions into the business rules management process veins.

Seeing the positive result of the “surgery”, the Banks’ management decided to undergo the same operation.


Challenge

A thorough examination of the Bank’s decision-making health status discovered that numerous flaws were caused by its old, worn-out heart – CRIF StrategyOne. They were: 

  • inconvenient interface for business strategy configuration;
  • absence of a fully functional logging process;
  • impossibility to create universal libraries of functions and other components for users;
  • lack of technical opportunity to make requests to external services and internal databases via the decision-making module;
  • complexity of machine learning module implementation;
  • performance limitations;
  • absence of modern software versions support.

A consilium of the Bank’s representatives and RNDpoint’s team came to the conclusion that the replacement of the decision-making system is the best way out. It allows:

  • reducing the time of credit strategies and loan products implementation;
  • shortening the time of external services engagement;
  • optimizing the cost of a single loan application processing;
  • correcting and changing credit strategies by the Bank’s risk managers without vendor or IT department involvement.


Solution

From the start of the tender, RNDpoint’s team had to compete in the technological field, because bidders’ offers regarding pricing were almost the same. But the Bank’s choice was made due to our expertise in technology. Together with the main transplant – FICO® Blaze Advisor – we additionally offered FICO® Application Studio (FAST) for overall system orchestration and our custom software solution Decision Module Component (DMC) as a tool for testing strategies. 

FICO® Blaze Advisor didn’t need to be advertised to the Bank. It was familiar to the Bank’s risk management team as a powerful structured decision-making tool for decision-making strategies development and execution. 

FICO® Application Studio (FAST) was transfused into the Bank’s system to perform the following functions:

  • integration with Bank’s current internal software and services;
  • integration with external services and databases (more than a dozen);
  • API design for connection with a decision-making module;
  • effective logging and administration processes.

DMC was not on the Bank’s wish list for surgery. But our experts showed the module in action as an efficient and simple strategy testing environment. This impressed the Bank’s management greatly. They decided to add DMC as the desired option as well. RNDpoint made it a bonus for the Bank and implemented DMC for free. 

In the course of several consilia, the Bank’s examination schedule was set and pre-surgery procedures agreed.

RNDpoint’s “surgery” team is quick, precise, and accurate. It seldom takes them more than 9 months to complete their work due to their rich background of experience and deep knowledge of the domain. That’s why the transplantation was successfully performed and the Bank’s system was renovated to satisfaction.

There were 4 main stages of Bank system renovation:

  1. “Pre-operative”:
    • license key purchasing;
    • deployment of development environment;
    • deployment of the testing environment;
    • collection and formalization of the requirements;
    • data model development.
  2. “Surgical”:
    • integration of Blaze Advisor with serial bus Tibco;
    • integration of decision-making module with Bank’s internal anti-fraud system and credit workflow solution;
    • reintegration of Blaze Advisor with internal databases and mobile operators’ services.
  3. “Post-operative”:
    • development of Bank’s client check strategy;
    • risk assessment strategy building;
    • development of strategies for credit committee and credit inspectors;
    • designing strategies for the Bank’s security department.
  4. “Therapeutic”:
    • functional testing;
    • load testing;
    • industrial environment deployment;
    • the Bank staff training.


Result

The final test of the “patient” was the results. The Bank displayed significant growth in its vital parameters. After successful FICO® Blaze Advisor transplantation, combined with DMC injection and FICO® Application Studio transfusion, the Bank demonstrated a positive recovery curve. 

The decision-making module replacement led to the following figures:

  • up to 20,000 requests are processed hourly;
  • less than 1 minute is necessary for the decision-making module to make a request both for internal and external databases when systems work under heavy duty;
  • less than 20 seconds is required to make a request to the Bank’s internal databases and services when systems work under heavy duty;
  • up to 10 users in the same session are covered by risk strategy management environment;
  • up to 5,000 applications are processed in less than an hour

Have any questions? Get in touch!