15 May 2017, Kuala Lumpur – Fusionex, a multi award-winning, leading software solutions provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Artificial Intelligence, and Deep Learning, has signed a million dollar, multi-year contract, with a financial institution in Asia to digitize its data management system. With a company-wide integrated platform in place, the client’s various departments can work together with increased efficiency and speed of delivery, with data synchronization to avoid overlaps and redundancy.
The client, which receives applications and approves loans amounting in the billions of dollars, provides corporate loans to some of the largest companies in the region.
Fusionex has been awarded the contract to provide the GIANT data management platform, not only to facilitate the client’s day-to-day loan origination and servicing operations, but also to cover the end-to-end corporate or personal loan processes.
Manual data management methods which were dated will now be replaced. GIANT will easily provide powerful insights and will summarize the client’s entire portfolio and transactions, as the system is able to process a variety of voluminous data types. The system is intelligent and is capable of consolidating and processing varied data to unify the entire process and weed out inconsistencies.
GIANT’s advanced analytics abilities also provides an avenue for the system to be augmented with Artificial Intelligence capabilities. By consolidating various structured, semi-structured, and unstructured data types, the client would be able to form better lending strategies, as the system would be able to recommend actionable items in a more humanized manner. Upon considering loan amounts, repayment history, credit scores, and customer demographics, the client would be able to make better decisions when it comes to financing approval.
Ivan Teh, Fusionex Managing Director and Chief Executive Officer, commented: “The deploying of Fusionex’s data management platform (GIANT) is done with the purpose to exponentially improve the client’s operational performance and insights gathering. We look forward to getting the client started on their Big Data journey, as they gain a greater ability to monitor their ongoing business and strategize for the future by making informed decisions with the insights at hand.”