The growth in on-line business is staggering – and so to is the growth in on-line bad debt and fraud. As a result e-Commerce demands real-time, adaptive and accurate scoring for credit, fraud and customer evaluation and existing techniques are failing to halt this growing tide. Understanding these challenges, Neural Technologies, one of the leading providers of advanced computing for business applications, is launching Decider e-Commerce. This new solution enables banks and finance providers to quickly and easily reduce fraud by providing accurate decision-support, while ensuring that e-Commerce customers stay on-line throughout the credit granting process.
“In the web business environment, customers expect fast response from companies selling on-line. If the decision as to whether or not to provide them with credit is not taken rapidly a valuable customer might leave the web-site for that of a rival,” says Nick Ryman-Tubb, President and CEO of Neural Technologies. “Decider e-Commerce is ideal for any bank or finance provider looking to offer real-time, credit decisions on-line.”
The key benefits of Decider e-Commerce for Internet banking and finance providers are:
– Decider e-Commerce ensures that on-line customers are quickly cleared for credit or immediately referred for investigation, so that the credit granting or “sales” process is not inhibited.
– It helps credit officers make fast, accurate decisions, even if some applicants data is missing.
– It provides reasons for suggested acceptance or rejection of applications.
– It provides real-time decision-support and transaction processing for on-line credit and service inquiries and applications.
– It offers multiple platform support (NT, UNIX, HP, IBM, SUN, Sequent, etc.).
– It uses robust, accurate AMAN (see below) and statistical technology.
“By discovering and using patterns and relationships from existing customer data, Decider e-Commerce does not just enable fast decision-making, but is also highly accurate and outperforms slower traditional approaches to aiding credit granting decisions,” adds Nick Ryman-Tubb.
James Satloff, managing director of global product development at Standard & Poor’s comments on their newly launched Internet corporate credit scoring service: “When developing CreditModel, the world’s first real-time Internet corporate credit scoring service, we looked for a partner that combined the business understanding of the financial credit scoring sector with technology power and systems development capabilities.”
In recognition that business processes and systems differ between companies, Decider e-Commerce can be integrated into almost any system environment. The Decider evaluation server is an integrated on-line transaction processing solution that produces credit or fraud customer scorecards based upon all data relevant and available to the Decider e-Commerce risk analysis engine.
About Neural Technologies
Neural Technologies is a private company founded in 1987. With offices in England and New York, the company has grown to become one of the few companies in the world to be successfully delivering advanced modeling solutions in real-world business environments. The company’s products are being used around the world by banking and financial institutions for credit scoring and fraud detection, by telecommunications companies for fraud detection, churn prediction and network performance management, and by marketing, mining and government sectors. The company was chosen by the UK government as principal technology and application advisors to the Department of Trade and Industry’s $9.65 million Technology Transfer Program.
All Neural Technologies Solutions are based on the company’s Advanced Modular Adaptive Network (AMAN) engine. AMAN copies what has taken nature 100 million years of evolution to create – the cortex in the human brain. AMAN is not a specific type of neural network – it is a self-growing meta-neural network that combines many types of specific neural architectures and advanced modeling techniques. It can cope with large amounts of data, both numeric and symbolic, and can be implemented from desktop PCs to client/server or mainframe.Details