ANZ unlocks transactional data

ANZ Banking Group said it enabled a better financial health journey for its customers via its single data model implementation.

Jason Humphrey, chief risk officer for ANZ told a recent Gartner and Analytics Summit in Sydney about how it improved the customer-to-account relationship by taking a 32-month window into transaction data to spot potential fraud plus help with financial stability.

This in turn enabled the major bank to generate offers to customers and create a smoother customer journey.

“Where we got to from a network dynamic perspective and using our partners at SAS, we had a couple of problems to solve for,” Humphrey said.

“That customer-to-account relationship - we had over 100 million records or primary keys, if you think about it that way and when you add the transactional data to those accounts, we ended up with over 10 billion records.”

Humphrey said ANZ wanted to also ‘run those network, dynamic problems across all our commercial customers, consumer customers, obviously the combination of the two”.

He explained to achieve this however, ANZ “struggled from a processing power perspective and we struggled from an analytical perspective.”

“But with our partners in SAS and using some of the network procedures that come with SAS and SAS Viya, we were able to allow for multiprocessing capability and to generate the conclusions and the outcomes at an industrial level that we can deploy today within our strategies. 

“So, that problem statement number one is that we use our data out of Ab initio because any of the analytics that we find in the models we deploy go straight back into our decisioning capability.”

He said it “unlocks the value of not having that type one problem”.  

“We've got a bunch of good analytics, but there's no way to deploy it, so we extract our data from Ab initio, we run out our SAS  analytics, we go and deploy our network dynamic modelling capability.

“Then that generates actions and messages to our customers once deployed through our other partners, such as Experian and Fair Isaac”.

Humphrey added there are "gaps in ANZ data”.

“The ability to ingest account software platform data from the likes of Xero and MYOB, for example, to support the commercial side and open banking data, if it was a bit more accessible, would help complete the view and the oversight that we have in deploying something very, very similar,” Humphrey said.

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