Interest grows in SAS® Viya® as banks see a strong return from speedy and scalable analytics
Korea's NH Nonghyup Bank among the financial services firms transforming their business with machine learning from SAS
Jun 28, 2018, 08:57 ET
CARY, N.C., June 28, 2018 /PRNewswire/ -- With competition fierce in financial services, banks of all sizes face common challenges. Each competes for customers in an evolving digital world, while simultaneously managing increased regulation and striving to be more operationally efficient. To respond to these industry challenges quickly and at scale, many banks are turning to analytical insights powered by the SAS® Platform and its SAS Viya products.
NH Nonghyup Bank speeds digital transformation with AI
NH Bank, one of the largest commercial lenders in South Korea with more than US$250 billion in assets, trusts SAS to help transform its business and better understand its customers through machine learning and artificial intelligence (AI).
With more than 20 million customers, NH Bank understands the importance of fostering a connection and providing a personalized customer experience as the institution continues to grow. To meet their personalization goals and speed digital transformation efforts, NH Bank looked to advanced analytics. Through SAS Visual Data Mining and Machine Learning on SAS Viya, the organization created a customer big data portal which provided a complete view of each customer. The portal supports both structured and unstructured data allowing the bank to run a variety of visual reports which provide analytical insights into individuals and enterprise customers.
"The ability to provide personalized recommendations for our customers is part of what sets apart NH Bank from our competition," said a manager of the big data planning team, digital strategy department at NH Bank. "In creating this portal to better understand customers, we've provided each banker the access to the same analytical insights as a data scientist in our organization. Working with SAS and their machine learning capabilities provided us speed and scale to deliver this huge digital transformation project in just six months."
More banks turn to SAS Viya
Other recent adopters of SAS Viya in the financial services industry include Danish Danske Bank (CPH: DANSKE), with locations in 16 countries and more than $500 billion in total assets; Seacoast Bank (NASDAQ: SBCF), one of the largest community banks headquartered in Florida; Compañía de Financiamiento Tuya, a consumer credit institution based in Colombia; Millennium Banco Comercial Português, the largest private bank in Portugal; and S-Bank, with more than 3 million banking customers across Finland.
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