Consumer Finance and Risk
How can you stop fraud in its tracks? Market more effectively? Lend profitably and responsibly? Collect what's owed to you?
Opera Consumer Finance and Risk has the answers.
Opera's Consumer Finance and Risk group works with financial institutions and other credit grantors to reduce losses and risks and improve their abilities to match customers with the right products and credit lines, lend more profitably, and collect more effectively.
In Financial Crimes and Fraud, we've built an extensive library of patterns and signals that indicate that someone is engaging in questionable behavior. And we have the ability to monitor a rich and ongoing flow of data to find these patterns. The result: we can find more bust-out, point of compromise, and wire fraud — and find it sooner — than existing approaches. Along the way, our customers have saved hundreds of millions of dollars. (Our solutions are so powerful, in fact, that ACI — one of the largest payments solutions providers in the world — asked us to partner with them to bring our fraud solutions to its customers.)
In Customer Lifecycle Management, we follow a similar approach — deep signals library, advanced algorithms, and ongoing signal mining of the data flow — to dramatically improve prospecting and underwriting, initial line assignments, and early intervention. When accounts move to collections and recoveries, our advanced models — based on a broader and fresher set of consumer and microeconomic data such as Zip + 4 — let us zero in on who has the resources to pay and who's most likely to.
Click below to learn more about the types of solutions we offer.
- Large financial institutions have massive data flows. With Enterprise Solutions, we can transform yours into a new source of strategic advantage. To learn more, click here.
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Opera offers Enterprise Solutions for the largest credit-granting organizations, creating transformative capabilities that leverage their large and growing Big Data reserves. We have worked with many of the largest financial institutions in the world, and have a deep and broad track record of success.
We are providing new capabilities for institutions that help them turn the challenges of Big Data into opportunities. For instance, we can create a "Signals Hub" that brings together disparate data streams from inside and outside the enterprise to create a powerful and signal-rich resource for the enterprise. Then, we can apply advanced analytics to find signals and insights that power new business lines and enhance customer loyalty and profitability.
We apply our advanced analytics, our deep understanding of the sector and financial institutions' operating and data environment, and our signals library in other ways as well. For example, we have worked with large consumer financial services providers to create new risk models, dynamic credit management and improved underwriting processes, dynamic and targeted line assignments, more individuated marketing and cross-selling curricula, and much more. These are sophisticated organizations with strong science and analytics capabilities — still, our solutions can outperform best-in-class existing approaches.
- Our Vertical Solutions provide powerful new ways to address key problems faced by financial institutions and other credit grantors. To learn more, click here.
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Opera has developed powerful Vertical Solutions that address key issues faced by financial institutions: fraud and collections.
- Our Multichannel Fraud Mitigation Platform applies Opera's powerful analytics to an ongoing, enriched stream of highly predictive data from many sources. Opera can host this, or place it behind organizations' firewalls. Either way, organizations can insert highly advanced fraud analytics into their operations with low noise and little additional IT or infrastructure investment.
- The Opera Performance Accelerator for Collections brings powerful analytics to assess collectors' performance with different types of debt and debtors. And it brings powerful decision guidance right to collectors' workstations, including our proprietary ability-to-pay/willingness-to-pay models. We also feature a real-time flow of optimal treatment sequences and offers prescribed by our recommender engine to improve talk-off success and drive more profitable settlements.
All Consumer Finance and Risk Solutions are powered by Opera's Vektor™ Big Data analytics and signals-processing platform. This means our solutions rapidly integrate into your operations, can structure and process flows of large and complex data, and incorporate the most advanced analytics and signals identification approaches. It also means that we can host solutions delivery or install on your premises behind your firewall — either way, without requiring significant new IT or infrastructure investment on your part.
We have a sterling track record and deep expertise in the financial services area. We have worked with five of the top seven credit-granting institutions in the US, leading retailers, and major European and UK banks. Click on the case studies below to see how our capabilities have brought hundreds of millions of dollars into financial institutions' coffers.
