By: Eric Siegel, Program Co-Chair, Predictive Analytics World for Financial
In anticipation of his upcoming conference presentation at Predictive Analytics World for Financial Livestream May 24-28, 2021, we asked Edo van Uitert, Senior Data Scientist/Team Lead at ABN Amro, a few questions about their deployment of predictive analytics. Catch a glimpse of his presentation, Fighting financial crime at ABN AMRO, a systemic bank in the Netherland, and see what’s in store at the PAW Financial conference.
Q: In your work with predictive analytics, what behavior or outcome do your models predict?
A: Our models predict whether or not the transaction behaviour of our customers is unusual and may be related to financial crime.
Q: How does predictive analytics deliver value at your organization – what is one specific way in which it actively drives decisions or operations?
A: It makes the transaction monitoring process more efficient and effective; we generate fewer false positives but also identify new types of suspicious behaviour that had not been noticed before.
Q: Can you describe a quantitative result, such as the predictive lift of your model or the ROI of an analytics initiative?
A: The impact of our models is a significant workload reduction at the Operations department where alerts are being manually investigated, and an increase in the number of reported alerts to the authorities.
Q: What surprising discovery or insight have you unearthed in your data?
A: We have identified new schemes of suspected financial crime which the traditional transaction monitoring system did not identify.
Q: Sneak preview: Please tell us a take-away that you will provide during your talk at Predictive Analytics World.
A: One take-away is the working of an in-house developed explainability tool to support transaction monitoring analysts with understanding the model’s behaviour.
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Don’t miss Edo’s presentation, Fighting financial crime at ABN AMRO, a systemic bank in the Netherland, at PAW Financial on Monday, May 24, 2021 from 11:30 AM to 12:15 PM. Click here to register for attendance.
By: Eric Siegel, Program Co-Chair, Predictive Analytics World for Financial
