Vanquis Bank is part of the Provident Financial Group. Established in 2003 Vanquis Bank brings the advantages of a credit card to underserved customers, excluded by mainstream card issuers because of their previous credit history. Understanding every customer at a detailed level for potential risk and value is essential to delivering on this mission.
Vanquis Bank wanted to move to an account level customer value management and risk management system. At the same time they needed to support IFRS regulatory requirements without significantly increasing the technology burdens. Their on-premise technology and applications infrastructure wasn’t optimized for achieving a detailed customer-level understanding of profitability and risk. Without this understanding, they were unable to effectively project what-if scenarios for potential programs
Core Compete architected a new analytical platform on Microsoft Azure. The new platform integrates internal and external data and provides a high-performance analytics environment capable of processing large-scale account-level workloads. SAS’s industry-leading capabilities for model governance and data mining were deployed on Azure alongside Hortonworks Hadoop. Extensive engineering was done to meet the performance expectations for customer level value management.
To drive maximum value from the big data and analytics solution, Core Compete brought together the right components in four critical areas:
Domain Expertise – Transactional data is securely managed to meet regulatory expectations. 3rd party data is integrated to support customer acquisition and relationship management. A Hadoop data lake provides both high-performance and low cost. Integrated SAS Data Management provides easy access to this data, leveraging the power of Hadoop.
Analytics Innovation – Vanquis Bank’s Data scientists were on-boarded to utilize modern analytical tools and model governance capability that allow easy management of models across the analytics lifecycle of development, deployment and retraining. This simplifies the generation of regulatory reports on the model characteristics and increases transparency.
Technology Know-How – The customer value management vision demanded high-performance at a low cost. Deployed a modern analytics platform consisting of Microsoft Azure, Hadoop, SAS (Grid Manager, Enterprise Miner, Model Manager and Visual Analytics). Extensive engineering benchmarks were done collaboratively with vendors to achieve the desired performance.
Agile Delivery Methodology – In an extensive 3-month pilot, Core Compete engineered this system which integrated the required analytics applications into the cloud and achieved key business performance goals. Following the pilot’s success, Core Compete then moved on to develop the production infrastructure within 8 weeks.
Vanquis Bank now has a secure, cloud-based infrastructure that is fully managed and has the ability to perform customer level profitability calculations allowing them to take precise decisions that are essential to their business. Models can easily be put into production to achieve the highest levels of regulatory compliance. Reporting and Insights can now be generated daily as data updates are ingested.