Automated decision making
can help B2B credit managers stay on top of a business that is changing fast, with pressure to do more with less and Sarbanes-Oxley Act mandates to better track accounts receivable.
The third risk assessment approach is termed automated decision making
. This includes use of actuarial formulas and expert systems and artificial intelligence systems.
While 84 percent of bankers surveyed said they are increasingly using data for critical and automated decision making
, 78 percent believe these automated systems create new risks, such as fake data, external data manipulation and inherent bias.
The digital solution covers the full end-to-end sales process: from client profiling, needs analysis and product quotation, to policy application and automated decision making
. It scales to support diverse distribution channels, working environments such as online browser or disconnected tablets, regulatory requirements and cultural advisory styles across Asia.
Emphasis will be placed on enhancing end-to-end customer visibility across more highly secure and high performing network connections, allowing for faster and more automated decision making
capabilities to the customer.
Shayne Elliott, chief executive officer, said: 'Over the past six years, Nigel has led the transformation of the Risk function with a focus on data analytics, automated decision making
and cyber security.