Spark 2019: In this presentation, Mark Fish, Ignite Lead Europe, discusses the future of big data and its role in the credit risk industry, looking at ways in which companies can overcome the common challenges that 'big data' poses in order to create more effective credit risk strategies.

2. The future of big data in credit
risk
Mark Fish, Ignite Lead, Equifax Europe

3. Equifax Ignite
Apps
Equifax Ignite
Models and
Scores
EQUIFAX IGNITE™
MODELS AND SCORES
EQUIFAX IGNITE™
APPS
Take a consultative approach by
using Equifax’s analysts to provide
deeper insights and rapid data
modelling for smarter decisions
and faster returns
Visualize data with a marketplace of
insight-driven apps by transforming
raw data from multiple sources into
simple, insightful illustrated graphs,
charts and tables
The three Equifax Ignite solutions
Equifax Ignite
Direct
EQUIFAX IGNITE™
DIRECT
High-speed analytical platform allows
you to create insights using direct
access to data, attributes and analytical
tools

4. How clients benefit
Minimal IT
overhead
Stand up new and flexible
environments quickly
Ability to access
new data assets
Access to latest analytical toolset
and machine learning
Quick routes to production for
models and attributes – faster ROI
High data security and
governance standards
Support from data
science community
Feedback loops on
performance

5. Supporting the entire analytical lifecycle

7. Use case - The Synthetic ID Model
Big Data Solution
Combine several data sets
 Insight (500 million records)
 Electoral roll (46 million records)
 Known Fraud Data (1.6 million records)
 Property Ownership (30 million addresses)
Point in time retrospective analysis over
five years
Gradient boosting framework
The results
Over 6000 potentially synthetic IDs identified
using a model with Gini 0.8*
*Subject to model governance sign-off
The challenge
Identify Synthetic IDs in the data provided
to the bureau

9. Connected platform experience
A CONNECTED
PLATFORM EXPERIENCE
RISK AND AFFORDABILITY
DECISION SUITE
MULTI-DIMENSIONAL
BENCHMARKING
Achieve breakthrough innovation with
applied and explainable AI, in a cost
effective way. An end-to-end solution
spans your data and analytic needs
and enables you to: Explore Data,
Discover Insights, Build Predictive
Models and Take Action in production
across the customer lifecycle
FICO and Equifax have launched the
FICO Risk and Affordability Decision
Suite, powered by Equifax, which uses
advanced predictive analytics to assess
a consumer’s repayment risk as well as
their ability to afford new credit–
addressing key regulatory requirements
for creditworthiness and affordability
Leverage the power of industry,
operational and economic data
through a single portal to gain unique
insights into your business and
benchmark your performance against
your competitors – allowing you to
monitor strategy effectiveness and
pinpoint new areas of opportunity

10. Find out more…

11. Thank You
mark.fish@equifax.com