How Ascend Analytical Sandbox Improves Risk Modeling and “Changes the Industry” for Financial Institutions

January 30, 2019 by Jesse Hoggard

Big Data Ascend Sandbox risk modelingFrom a capricious economic environment to increased competition from new market entrants and a customer base that expects a seamless, customized experience, there are a host of evolving factors that are changing the way financial institutions operate. Now more than ever, financial institutions are turning to their data for insights into their customers and market opportunities. But to be effective, this data must be accurate and fresh; otherwise, the resulting strategies and decisions become stale and less effective.

This was the challenge facing OneMain Financial, a large provider of personal installment loans serving 10 million total customers across more than 1,700 branches—creating accurate, timely and robust insights, models and strategies to manage their credit portfolios.

Traditionally, the archive process had been an expensive, time-consuming, and labor-intensive process; it can take months from start to finish. OneMain Financial needed a solution to reduce expenses and the time involved in order to improve their core risk modeling.

In this recent IDC Customer Spotlight, sponsored by Experian, “Improving Core Risk Modeling with Better Data Analysis,” Steven D’Alfonso, Research Director spoke with the Senior Managing Director and head of model development at OneMain Financial who turned to Experian’s Ascend Analytical Sandbox to improve its core risk modeling through reject inferencing. But OneMain Financial also realized additional benefits and opportunities with the solution including compliance and economic stress testing.

Read the customer spotlight to learn more about the explore how OneMain Financial:

  • Reduced expense and effort associated with its archive process
  • Improved risk model development timing from several months to 1-2 weeks
  • Used Sandbox to gain additional market insight including: market share, benchmarking and trends, etc.

Read the Case Study