Andafin can help you build your financial institution’s capabilities and use the power of data to reach the next billion customers. We utilize a broad range of expertise to help our clients succeed with data-enabled growth. Depending on your company’s current needs, we can help build a strong foundation for growth, including a data-enabled strategy; fill gaps and build your sustainable advantage through a variety of specialized services; and provide coaching and training to make the changes stick.
1. Build a solid foundation
To strengthen your company as a whole, we can build a roadmap to drive your organization toward a strong data-enabled strategy. This means understanding your company’s strategy from the top down, and designing data systems from the bottom up that support that strategy and provide input for future direction. Depending on your company’s competitive strategy, we may emphasize different drivers and data flows.
At the same time, we will look at your company’s current decision making processes – how is data managed; how are questions translated to analysis; and how does the analysis produce insights for decision making? Along with examining tools, we take a careful look at the middle layer of the process, where data needs to be translated to insights by specialists with a good understanding of the company’s business and senior management’s information needs.
The output is a plan covering the steps your organization can take to build a sound analysis and decision making process, which can be implemented in collaboration between Andafin and your team.
2. Fill gaps and build your sustainable advantage
To address our clients’ specific challenges, our specialized services include:
Key tools and processes for your data-enabled organization
- Capabilities: With our practical expertise, Andafin will drive development and implementation of data-enabled solutions for your organization:
- Data analysis: Analysis of financial and operational data (loan portfolios, customer databases, logistics databases, etc.) to uncover useful insights for your business. Where available, we can integrate outside information (market data, credit bureau data, or even climate data) to help you better understand your customers and business.
- Systems implementation: Integration of analytics tools into your business processes, links with key systems (core banking, CRM, logistics, etc.), and implementation of cloud analytics.
- Case study: Our financial services client had collected detailed data on close to a million customers, and needed help interpreting it.
Our analysis of over 100 million data points revealed a diverse customer base, with varying needs based on characteristics the bank had not previously considered. In addition, the analysis revealed pockets of operational problems that were leading to increased credit risk despite the bank’s overall high performance.
Thanks to the analysis, the bank was able to immediately isolate and resolve the operational issues, and understand ways to better serve their diverse range of customers.
Harnessing your data to manage risk and boost profitability
- Capabilities: Drawing on our experience with a variety of financial institutions, Andafin can help you address:
- Operational risk: We can help you detect operational risk issues with our proprietary fraud detection tools, and prevent issues from arising through internal controls assessment and business process improvement.
- Credit risk: Using data from inside and outside your company, we can build models to help you improve underwriting, and use tools such as behavioral scoring to help you better understand and manage default risk.
- Case study: After a comprehensive review of another financial services client’s internal controls, we recommended a variety of improvements to prevent fraud in the future, including enhancement of fraud detection capabilities.
To our recommendation a reality, we built a custom software program to detect suspicious loans in the bank’s data; the program directed the efforts of an external auditor to find many more fraudulent loans.
Building data-enabled products from the ground up
- Capabilities: Working with key stakeholders in your organization, Andafin can support the development of new financial products, including:
- Terms, policies and procedures
- Digital delivery
- Operational, financial, and marketing analytics
- Dashboard for product management
- Case study: A payments company wanted to get into the financial services business, targeting low-income workers. Leveraging their existing strengths in transaction processing, we developed financial products suited to the customers and market, and led the establishment of the accompanying platform to deliver them. Today the products have reached hundreds of thousands of customers.
3. Coaching and training
When our clients no longer require our support on a particular issue, we have succeeded as consultants. To help build capacity within your company, we and provide training and one-on-one coaching on the broad range of topics covered by our core consulting services.
Setting the stage for your continued success