The Future of Analytics - SPEAKER Peter Maynard, Equifax - Lend360
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The Future of Analytics SPEAKER Peter Maynard, Equifax
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THE FUTURE OF ANALYTICS
Peter Maynard
SVP Equifax Data and Analytics
October 8, 2018
2
Equifax: 820,000,000
consumers
Original
BIG 91,000,000
businesses
DATA
7,000+
Company employer contributors
1899 $3.4B 10,000 24
Company Founded Global Information Employees Countries
Solutions Company
3
Data and Analytics Innovation at Equifax
CONFIGURABLE ADVANCED ANALYTICS DATA
INSIGHTS
4
CAMBRIAN
enables
CONFIGURABLE
SOLUTIONS
delivered through
TM
Equifax Ignite
Equifax Ignite Direct Equifax Ignite Solutions Equifax Ignite
Self Serve Insight Generation Marketplace
App Driven Insight Consumption
5
Equifax Ignite Marketplace: Online Finance
Market Trends
Online lender share of personal loans by
• Origination risk score
• Loan amount
• Terms
Score migration post-origination by
lender type
For Illustrative purposes only
6
R&D to Production Integration to enable
feedback analytics
6-9 MONTHS 30 DAYS
R&D ENVIRONMENT
Data Wrangling
Attribute Dev
Model Dev
Development
Data Wrangling Execute Attributes and Models
Select Data Attribute Model
Sources Development Development
Equifax data Number of 60 days
past due
Number Open
of Trades
Deployment Trades
3rd party Linear and Logistics Regression
data Customer SAS, R, Python
data % of Satisfactory Trade Machine Learning
Production PMML
PRODUCTION SYSTEM
7
NeuroDecision® Technology (NDT):
Monotonic Neural Networks
All credit scoring systems must Adhere
to FCRA, ECOA, SCRA, & FHA as it
applies
Optimally constrain a multiple hidden
layer Neural Network (NN) to be
monotonic.
Demonstrably superior to logistic
regression
Produces a score and logical reason
codes by enforcing monotonicity
https://www.youtube.com/watch?v=HxDHis4btg0
8
Commercial Loan Approvals with Trended Data and
NDT increase markedly
21% higher
approval
rates
Equifax Inc., 2018
9Trended commercial and consumer data with NDT
increases KS by 13.6%
KS = 50.9
Equifax Inc., 2018
10Insight Example: Trended Data and NDT models identifies
different mortgage borrowers behaviors
Equifax Inc., 2018
11Explainable AI: Monotonic tree ensembles
algorithms are promising
True Function Tributary-RF Tributary-GBM NeuroDecision
Equifax Inc., 2018
12Equifax income solution includes 3 suites to cover
all business needs
Ignite Fuels Equifax Income Suites Delivery Channels
Trended Data • Modeled Income for TWN No-Hit
• Configured Solution by Verticals
Equifax Advanced Analytics & Machine Learning
ACRO
TWN EWS Income Suite Equifax Ignite
Marketplace
IXI
• Modeled US Income
• FCRA Risk Income Model
Alternative Data
3rd Party Data
USIS Risk Income Equifax Ignite Direct
Machine
Learning
• Income Model for marketing
AME • Financial and Non-FI sectors
Automated
Monitoring
Marketing Income Existing Delivery
Channels
13New Consumer Finance Income model has a better
income classification accuracy than incumbent model
9% higher
classification
accuracy and
2X the
income score
coverage
Equifax Inc., 2018
14Equifax Innovation 2020 Vision
AUTOMATED FEEDBACK TRANSPARENT AI/ML MULTI-DATA WITH
LOOP CONSUMER CONSENT
15If you want to learn more
History of Credit
Blog - https://insight.equifax.com/the-history-of-consumer-credit/
Infographic - https://www.equifax.com/resource-lp/index?contentID=7f78804d-d5a2-47db-a9e4-ce06f148fbb5
Modern Day Credit
Blog – https://insight.equifax.com/credit-ages-technology/
Infographic - https://www.equifax.com/resource-lp/index?contentID=1762627&cmpid=social-blog_BL_FutureofcreditIG_May2018
16Equifax Ignite Solution Overview
Three integrated tools and delivery channels. One solution.
Equifax Ignite Equifax Ignite
Equifax Ignite Apps
Solutions Direct
Address specific business issues with
Create your own models & scores with “DIY” Visualize big data with a marketplace of
configurable solutions created by Equifax for
access to data & tools insight-driven apps
you
Consultative approach to designing an High-speed analytical platform allows you to Pre-built and configurable “apps” that deliver
optimal solution for your unique business create insights using direct access to data, actionable visual insights for easy
needs attributes, and analytical tools (SAS®, consumption by business users
Combines data, scores, analytical RStudio®, H2O.ai) Decision360 insights
approaches and decision strategies in an Quick access to current and historical data Portfolio Insights
How it end-to-end solution Faster time to revenue Market Intelligence
helps you More powerful than a custom solution but Customer Insights
designed and delivered with the ease and
Risk
speed of an off-the-shelf product
Marketing
Compliance
Strategy and Policy Adjustments
Executives Statisticians Business analysts
Who it Managers Data scientists Managers
helps Analytics Teams Data analyst Executives
How it’s delivered Existing delivery channels Self-serve platform Online market of apps
17NCTUE Attributes
What is it A set of 100 attributes derived from a comprehensive, industry- Value Proposition:
specific account history database consisting of payment history for:
Telecommunications, PayTV, Home Security, & Utility companies. Equifax is the only provider that has the ability to
provide both members and non members with
NCTUE attributes. The attributes are now
available in the Ignite Direct environment.
How you use it • Individual Attributes
• Risk Modeling & Analysis
• Prescreen file suppression
• Account Management & Recovery Scores Fast Facts:
• Geo Aggregated Attributes • If you are currently an NCTUE member and contribute data
• Propensity to open an account
then this is an additional benefit!
• Propensity to Churn ( Voluntary & Involuntary)
• If you are not a member of the NCTUE or not eligible to
contribute then you have the opportunity to access these
valuable attributes to drive insights for your business.
What you get The NCTUE attributes can be elected to be deployed in the Ignite • If you are not a member, but eligible for membership to the
environment. The attributes can be combined with other approved NCTUE then you must contribute to access this benefit.
data elements within the Ignite environment (Equifax Credit Data,
• A finite list of use cases has received conditional approval,
Client Data, etc) once a final review by the NCTUE data stewards
but each customer's use will be subject to a brief final review
and the Equifax Data Review Team is complete prior to
deployment. before deployment.
Database Details Over 460M active records and over 225M unique consumers
Delivery Path Access via VDI tool into Ignite Direct environment where keying &
linking occurs to help drive insights.
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