The Challenge in Financial Services
Financial institutions are facing increasing pressure due to changing consumer behaviors, evolving technologies, and rising security concerns. The competition in the financial industry is fierce, with the emergence of disruptive technologies altering traditional business models. Moreover, financial institutions are grappling with sophisticated criminal activities like fraud and cyberattacks, necessitating enhanced security measures. To compound these challenges, regulators are imposing strict compliance and reporting requirements on financial organizations. Navigating this complex landscape requires innovative solutions that can streamline operations, ensure compliance, and drive profitability.
Altair's Data Analytics and AI Platform
Altair's solution for the financial services sector, RapidMiner, leverages data analytics and artificial intelligence to transform business processes, ensure compliance with regulations, and boost profitability. With over 30 years of experience collaborating with leading financial institutions worldwide, Altair has developed a platform that optimizes reconciliation processes, streamlines lending operations, supports electronic trading, facilitates credit origination, and more. Altair's platform equips financial organizations with the automation, data science, and generative AI tools necessary to succeed in today's competitive landscape.
Clientele and Recognition
Altair's extensive client list includes the top 10 global banks, top 10 U.S. banks, top three U.S. credit agencies, and seven of the top 10 global insurers. This wide adoption in the financial industry showcases Altair's credibility and efficacy in delivering data analytics, AI, and high-performance computing solutions. Being recognized as a Leader in Gartner's Magic Quadrant for Data Science and Machine Learning Platforms further solidifies Altair's position as a trusted partner for financial institutions.
Specialized Solutions for Financial Sectors
Altair's tailored solutions cater to various sectors within financial services, including banking, insurance, asset management, and mortgage. These sector-specific solutions address the unique challenges and requirements of each industry segment. For banking institutions, Altair offers comprehensive analytics tools for data management, visualization, regulation compliance, and risk mitigation. Insurance companies benefit from Altair's data analytics capabilities, covering pricing, fraud detection, decision-making, and customer retention. Asset management firms leverage Altair's sophisticated analytics to analyze data swiftly and make informed decisions. Mortgage providers rely on Altair's solutions for quick data access and risk analysis.
Advanced Capabilities and Use Cases
Altair's platform provides advanced capabilities like automated data transformation, decision trees for credit risk assessment, and real-time data visualization in trading markets. These features empower financial institutions to automate data processes, assess credit risks accurately, and monitor trading activities efficiently. Altair's solutions are designed to enhance operational efficiency, reduce manual workloads, and integrate seamlessly into existing systems, enabling financial organizations to stay competitive and resilient in a rapidly evolving market environment.
Driving Innovation and Compliance
Altair's commitment to innovation and compliance is evident in its focus on modernizing SAS language programs, implementing knowledge graphs for enterprise data integration, and developing cutting-edge financial analytics. By enabling organizations to run SAS language programs without SAS Institute software, building knowledge graphs for seamless data integration, and providing predictive analytics tools for accurate cost estimation in insurance, Altair facilitates innovation while ensuring regulatory compliance in financial operations.