Catalyzing an analytics-led transformation for one of Europe’s largest credit management companies
About the Client
The client is one of Europe’s largest credit management enterprises, formed through the merger of UK’s and Germany’s former market leaders. The client leverages a combination of data analytics insights and robust risk management to provide expert solutions in debt purchasing, third-party collections, and business process outsourcing.
With 8 lines of business across 9 different countries in the EU, the client inherited 500+ source systems that were regularly accessed by 3000+ users. The company wanted to accelerate bringing highly accurate and reliable predictive AI/ML models to market. In a growing industry with increasing credit risk exposures and frauds, it was critical for the client to foresee and minimize potential risks through effective data models at scale.
The client faced various challenges, ranging from the lack of tools for self-service BI to high inefficiencies and costs with data management. To name a few:
Isolated and disparate systems/data sources, and an extremely high time (8+ months) required to build analytical models
Lacklustre cross department alignment on data processes, lack of roles and accountability for data management, and difficulties maintaining regulatory compliance
Lack of advanced analytics for data monetization
Brillio provided a multi-year roadmap for data transformation on cloud which addressed the current requirements, as well the client’s aspirations to become a self-serve analytics-driven organization, capable of leveraging enterprise-grade analytics models for business decision making. The solution was rolled out in a phase approach as follows:
A 4-week design-thinking led assessment of the data landscape with current operations and business aspirations.
The formulation of a data strategy for robust platform development.
The development of an advanced analytics platform leveraging Brillio’s Flash.ai solution
The implementation of a data management layer to maximize platform usability and ROI
BI & Self-service enablement for insight democratization
The enablement of a data scientist toolkit
Business Impact and Benefits
By implementing Brillio’s solution, the comprehensive data and analytics modernization endeavor resulted in a return on their investment of ~3.7x with a profit boost of $17 million. By leveraging Brillio’s implementation, the company managed to reduce the model development time from 7-8 months to 2 weeks, as well as lower the query execution time by 90%.
Better organizational fluency once the company had a complete view of its data processes, KPIs, and data governance
Reduced time to market for new models and products, with more than 50% faster onboarding for new data sources
Seamless regulatory compliance via a comprehensive data layer, with increased data quality, 70% reduction in data-prep time, and streamlined data management processes
Empowered internal and external users via ML-driven management engines, seamless integrations, and real-time data monitoring.