Resource Center

Risk officers and analysts across financial services companies and banks are realizing that risk modeling in 2021 requires better data. Even the most sophisticated machine learning models are insufficient without the most relevant risk signals, pulled from thousands of external data sources.

“It’s clear that organizations are taking external data acquisition very seriously, allocating a significant budget for this task. In 2020, 81% of companies spent more than $100k each month on external data acquisition, and 31% spent more than $500k. These numbers only paint part of the total investment picture since almost half of the respondents […]

Melio developed an innovative B2B payment workflow that helps businesses save time and improve cash flow. Melio partnered with Explorium and AWS and used Explorium’s unique data enrichments to help them scale up rapidly and instantly prioritize who the right potential customers are.

Organizations across the industry realize that access to external or alternative data is key to their competitive advantage and business success. They are looking for ways to connect to the broader data ecosystems to improve their analytics, machine learning, and decision-making.

Explorium External Data Platform in action.

Access to external or alternative data can give significant uplift to your predictive and ML models. External data is becoming a significant competitive advantage for companies across FinTech, Insurance, CPG, Retail, or eCommerce. By connecting to broader data ecosystems, companies are improving their analytics, machine learning, and decision-making. Source: Intelligent Data Summit: Integration Developer News.

Understanding and managing risk is crucial for banks to come out on top. As banking becomes more data driven, AI is playing a powerful role in determining the methods and extent to which banks comprehend and handle their risk across a variety of areas and functions, including credit risk, operational risk, market risk and liquidity […]