Financial Institutions
Financial institutions are under more pressure than ever. Emerging competitors and disruptive technologies are changing how and where people spend, save, and invest, with customers demanding more value and flexibility. Criminal activities have become so sophisticated that it’s hard to stay ahead of fraud and cyberattacks. Regulatory demands require constant self-analysis and reporting.
Whether in banking, financial services, insurance, or mortgage, Altair financial data analytics solutions provide your organization with the tools needed to transform business processes, ensure compliance, drive profits while cutting costs, and free personnel to focus on crucial activities.
Reinvent Operations with Financial Analytics Tools
Financial institutions can reinvent critical business processes across all departments with Altair® RapidMiner®, our data analytics and artificial intelligence (AI) platform. From tightening cybersecurity, evaluating and pricing risk, ascertaining credit scores, and predicting cash flow events, to driving customer acquisition, personalization, and loyalty.
High-Throughput Computing for Financial Data Analysis
The requirement for powerful computing technology that enables high-throughput processing is higher than ever in finance, since it’s indispensable in handling mountains of data in areas including algorithmic and quantitative trading. Financial institutions often need to run tens or hundreds of thousands of short, mission-critical jobs – and they need the right tools to manage these demanding workloads.
Altair workload management solutions and optimization tools enable fast results and the ability to handle the toughest requirements for high-throughput job scheduling.
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Banking
Altair has more than 30 years of experience working with thousands of banks and credit unions. These relationships are rooted in our unique capabilities for financial data analysis, data transformation, understanding of bank reporting, fraud and credit risk experience, and our high number of expert staff with financial industry backgrounds.
Financial Services
Financial services firms trust Altair RapidMiner, including 18 of the 20 largest global investment banks. We understand the need to balance growth, speed, efficiency, and risk across areas like electronic trading, lending, operations, customer acquisition, retention, and regulatory oversight.
Insurance
The insurance industry is ultra-competitive. The vast selection of providers means that customers will walk if they feel a quote isn’t reasonable, or if coverage or service is inadequate.
Altair partners with insurers large and small. We have the tools, people, and commitment to customer success to help your organization meet customers’ changing financial needs while effectively assessing and protecting against new horizons of risk.
Mortgage Analytics
Mortgage servicers face significant challenges around quickly and cost-effectively accessing data for lending and prepayment risk analysis. Altair solutions can acquire financial data directly from the wide variety of systems used in the mortgage business, including Fannie Mae®, Freddie Mac®, Ginnie Mae®, Black Knight®, Sagent®, and more.
Altair RapidMiner can handle every phase of the data lifecycle, giving decision-makers clear visibility into lending risk and profitability.
Featured Resources
Guide to Mitigating Credit Risk
Risk assessment is crucial for any enterprise that extends credit to customers. Commonly known as credit scoring, the process helps lenders make confident, informed decisions on whether prospective customers will honor their debt. Credit scoring is typically associated with the banking and financial service sectors, but is required across a wide array of businesses, including telecoms, retail, and insurance. In most cases, credit scoring isn't just a business tool, it's a regulatory necessity. And credit scoring is a vast industry. In the U.S. alone, recent consumer debt valuations hover over $14 trillion.
Altair RapidMiner for Banking, Financial Services, and Insurance
Altair works with over 4,000 banking, financial services, and insurance (BFSI) companies – including 17 of the world's top 20 investment banks. Altair RapidMiner, our data analytics and AI platform, offers unparalleled breadth and depth across the analytics lifecycle. Whether an organization requires an end-to-end platform or point solutions, Altair RapidMiner empowers customers to give their diverse teams the right tools at the right time. Our Center of Excellence (CoE) methodology provides the tools your team needs to improve their skills quickly, and our unique Altair Units licensing model provides cost-effective options that give organizations a competitive advantage.
Predictive Analytics in Insurance
At its simplest, a product price is defined as the sum of cost and profit. The primary aim, and biggest challenge, in the insurance sector is accurately estimating product cost. Over the years, insurers have developed a plethora of tools, methodologies, and mathematical models to calculate costs. The big data revolution along with advances in data processing, predictive analytics, and artificial intelligence (AI) has made this effort more achievable.
Game-Changing Financial Analytics
Credit risk specialist builds robust SAS language-powered analytics framework. Vestigo uses Altair Analytics Workbench to develop and maintain models and programs written in the SAS language. The software's drag-and-drop workflow lets its teams build new models quickly without needing to write any code. When the team needs to update existing client libraries, they can work with clients regardless of what language the client used to build them originally since Analytics Workbench can handle Python, R, and SQL in addition to the SAS language. The Vestigo team can combine modules built in any of the four languages into their updated models.
