Comprehensive offering addresses costly business challenge as more than half of a data scientist’s work never gets beyond the lab
According to IDC, only 35% of organisations indicate that analytical models are fully deployed in production.* This results in wasted effort and wasted money. With organisations investing approximately $189.1 billion in analytics this year alone, the deployment of analytical models and generating value from data is more critical than ever. SAS, the leader in analytics, is helping businesses complete the last mile of analytics and reach their goals through new offerings, services and education.
Available now, SAS® ModelOps, is a new packaged offering combining SAS Model Manager software and advisory services. The offering streamlines the management, deployment, monitoring, retraining and governance of both SAS and open source analytical models. To jumpstart success, it provides the added benefit of tailored consulting services. Additionally, SAS is introducing a new standalone service, ModelOps Health Check Assessment, intended to help organisations understand how to optimise deployment.
“The inability to put analytics into action is one of the biggest challenges across industries,” said Dan Vesset, Group Vice President of Analytics and Information Management at IDC. “Many organisations adopt a data-driven culture but struggle to actually apply changes that the data suggests. The finish line is to generate real business value from analytics investments, but many businesses are never reaching it, or struggle with the so-called ‘last mile’ of implementing, operationalising and putting analytics to work.”
Jim Goodnight, CEO of SAS, said: “This is because data doesn’t drive an organisation, decisions do. And we know analytically-driven decisions are better. Analytical models can detect credit-card fraud, manage banking risk, improve marketing accuracy, identify promising drug therapies and so much more. SAS knows how to work with companies to finish this last mile and put their analytics, AI and data investments to work.”
Running the last mile with SAS
As organisations accelerate adoption of AI and machine learning, analytical assets and models are rapidly multiplying. In recent years model development has become more prevalent to solve business problems, but deployment and governance remains the final hurdle. SAS helps organisations across the entire analytics lifecycle – from automated model development that is not only transparent, but customisable, to model explainability in plain English, to model deployment.
“Most companies struggle to move past the experimentation phase to unlock real value. Our research tells us that implementation challenges, integrating AI into the company’s roles and functions, data issues (e.g., data privacy, accessing and integrating data), cost of AI technologies/solution development and lack of skills are the top challenges faced by early adopters. To help clients accelerate the adoption of AI, Deloitte has made significant investments, including establishing a SAS Center of Excellence, to educate, deliver, scale and manage AI and Analytics solutions in a cost-effective manner,” said Nat D’Ercole, partner at Omnia AI, Deloitte Canada’s Artificial Intelligence practice.
Norwegian telecommunications company Telenor has also seen success with fast, effective model deployment with SAS. Serving Scandinavia and Asia, Telenor has an incredible amount of customer data. But the company needed help using this data to create a personalised customer experience. Together with SAS, Telenor Norway uses 10-20 predictive models to calculate the customers likelihood to buy relevant offers. Armed with this analysis, SAS and Telenor Norway developed and implemented a guided tool, called Automated Sales Tips (AST). AST puts analytics into action, determining in half a second the best offers for each customer contacting Telenor utilising the scores from the predictive models. The models are managed and monitored using SAS Model Manager, providing a way to monitor the quality of the models over time and a report used as a basis for their monthly model management meeting.
SAS also enabled the marketing division of Germany’s Commerzbank to deploy data-driven models that improved the customer experience. While analytics is used daily in business, now it can be integrated in all customer-centred decisions – inbound and outbound – for every touchpoint with Commerzbank’s customers, in real-time, at scale.
Customer-centricity is equally important in an evolving retail landscape. Connect Financial Services (CFS), a subsidiary of the JD Group and Pepkor, the largest non-grocery retailer in South Africa, use SAS to gain the competitive edge. The JD Group, with more than 850 stores operating across four countries, receives a large number of customer credit applications each day. By automating much of the credit decisioning process with machine learning and advanced analytics, CFS can make relevant offers to customers while still mitigating risk to the retailer.
“SAS allows us to make intelligent decisions,” said Eugene Ehlers, CFS Credit Executive at Pepkor. “Internally, we refer to ‘SAS as the brain.’ We can quickly deploy changes and additions to our credit decisioning models in real-time, which allows us to ensure that the right amount of credit is offered to the customer when and where the customer needs it.”
Moving organisations forward with ModelOps
According to McKinsey, the total annual value generated by analytics and AI is between $9.5 trillion and $15.4 trillion. But without the ability to push analytical models into production, much of this potential value is lost. ModelOps is where analytical models move from the data science “lab” into IT production, with a regular cadence of updates and deployments as these models are managed, scaled, monitored and retrained as needed. In the race to realise value from analytics, ModelOps is a winning ingredient that only a few companies are using.
SAS ModelOps meets the need for model management software paired with advisory services that can be tailored to meet a customer’s specific requirements. The offering will help customers to jumpstart their implementation, use and adoption of SAS Model Manager so that they can operationalise analytics in a consistent, continuous manner. SAS ModelOps also enables customers to monitor the performance of all champion models to ensure relevance as data and market conditions changes over time.
SAS believes that to finish the last mile, analytics needs to emulate the applications-development community’s approach to collaboration – DevOps – and adopt practices that will accelerate model creation and deployment. The ModelOps Handbook, available for download later this year, is a technology-agnostic handbook that helps organisations accelerate the analytics life cycle through repeatable best practices. With a focus on building collaboration and processes to facilitate the handoff between the development and deployment phases, the goal of the ModelOps Handbook is to reduce the time to deployment and increase organisational capacity to create, train and refine analytical models.
Because deployment of analytical models is both challenging and valuable, SAS is also introducing a new service, ModelOps Health Check Assessment. Through an on-site workshop, organisations can determine their level of maturity and readiness to successfully deploy and manage analytical models. The assessment also provides recommendations to move the company forward to make better decisions.
SONY BANK SECURES AND ENHANCES MOBILE BANKING WITH ONESPAN’S MOBILE SECURITY SUITE
App shielding, biometric authentication and additional technologies secure and improve the customer experience for Sony Bank’s mobile banking app
OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that Sony Bank is protecting its mobile banking transactions with OneSpan’s Mobile Security Suite. OneSpan helps the bank secure and improve the customer experience by detecting and preventing mobile threats in the background, while integrating convenient features like facial recognition and fingerprint biometrics.
Mobile banking adoption continues to increase and the frequency of mobile attacks like malware and trojans continue to rise. Sony Bank was able to address both customer experience and security by launching its banking app and securing it using OneSpan’s suite of mobile SDKs. Mobile Security Suite integrates application security, biometric authentication and Application Shielding, which detects and mitigates fraudulent activities and helps ensure the integrity and protection of apps and data.
“Addressing security and customer convenience was key for us, and with OneSpan’s solutions we are able to achieve both,” said Sony Bank Senior Manager of the Systems Planning Department, Shuichiro Sumimoto. “The technology comprehensively protects the device and the application, while providing an easy way for our customers to complete mobile transactions.”
“OneSpan’s Trusted Identity solutions enable banks to simultaneously fight an ever-increasing number of threats while ensuring a seamless and easy customer experience,” said OneSpan CEO, Scott Clements. “With Gartner predicting that by 2022, at least 50% of successful attacks against mobile apps could have been prevented using in-app protection,[i] Sony Bank is taking the right steps to future-proof its business.”
While mobile threats are on the rise, so too are regulations designed to make banking more secure and transparent. In particular, the global move toward Open Banking has triggered regional regulations such as the Amended Banking Act of 2017 or the Second Payment Services Directive (PSD2) in Europe. Using OneSpan’s technology, Sony Bank can address today’s PSD2 requirements with the aim of using the technology to address potential future regulations.
KOREA’S KB BANK USES TRUSTONIC IN-APP PROTECTION TO ENHANCE MOBILE BANKING EXPERIENCE
Using Trustonic Application Protection enables KB Bank to dramatically improve the authentication experience for users of its mobile banking app and allow secure high value transactions
Mobile cybersecurity leader, Trustonic, today announces the successful implementation by KB Kookmin Bank (KB Bank) of Trustonic Application Protection (TAP™) to enable a simpler authentication experience for users of its KB Star Banking app. By combining TAP with its new digital authentication certificates, the bank is dramatically simplifying customers’ access to banking services and enabling them to authenticate higher value transfers in-app, without the need for cumbersome user authentication practices like security tokens.
The largest Korean bank by number of mobile users, KB Bank provides online and mobile banking services to over 10 million customers. Trustonic’s mobile application protection is enabling the bank to provide faster, simpler and more secure digital banking services by isolating authentication certificates in the hardware security of today’s smartphones. Since launching in summer 2019, the app has acquired 3 million active users, and adoption among KB Bank customers continues to grow rapidly.
Mr. Han, Senior Executive Vice President, Kookmin Bank commented: “In Korea, users need to install authentication certificates to use mobile banking services. This can be a complex and time-consuming process that often requires revalidation and multiple passwords. With our long-standing partner Trustonic, we are able to vastly improve the in-app user experience and allow our users to authorize much higher value transactions. Some security solutions make you choose between security, user experience and performance but with TAP there’s no compromise.”
Enhancing user experience & enabling high-value transactions with advanced security
Historically, public certificates need to be regularly renewed by the app user, which can be frustrating and time consuming. Now, because the new KB Mobile Certificates have the advanced in-app protection provided by TAP, they do not need to be renewed unless revoked by the customer or unused for one year. This significantly simplifies and enhances the user experience.
High-value in-app payments are now possible because of this advanced protection. KB Bank customers can transfer up to 2 million won (approx. $1,700 US) using their account password, and up to 50 million won (approx. $41,000 US) with a password and six-digit PIN. Amounts between 50 million won and 500 million won (approx. $413,000 US) can be verified by entering their password and PIN before receiving an additional authentication code via an automated phone call.
Improving in-app functionality through trust
The TAP in-app protection platform protects mobile applications by securing sensitive code, data and processes in a highly protected environment. The environment dynamically upgrades over the course of an app’s lifecycle to take advantage of the most advanced hardware and software security technologies available on smartphones. Banking, payment, acceptance and fintech app developers benefit as they can use the TAP SDK to build secure next-generation experiences.
Dion Price, CEO of Trustonic, says: “Korea’s certificate-based authentication infrastructure has historically limited the user experience for mobile banking apps. By making its banking app more seamless and secure with Trustonic’s unique combination of hardware and software in-app protection, KB Bank has vastly improved the user experience. This is a perfect example of how advanced security can enrich apps for end users, which is why TAP is being adopted to protect financial services across payments, banking, fintech and mPOS.”
For more information about how TAP is enhancing both security and user experiences, visit the Trustonic website.
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