TULSA, Okla., Sept. 24, 2012 (GLOBE NEWSWIRE) -- Danske Bank, the largest bank in Denmark and one of the largest financial institutions in northern Europe, has implemented STATISTICA data analysis and predictive modeling software for risk management and scoring.
Beginning in 2011 Danske Bank installed StatSoft's STATISTICA Enterprise Decisioning Platform® software solution for risk modeling and reporting, as well as risk scoring, to provide real-time support for various business lines and numerous locations in Europe. The STATISTICA software solution accelerates the building, evaluation, and deployment of risk models, and thus allows Danske Bank to deliver superior customer service tailored to specific customer needs, across all countries and markets.
"It was an exciting project to be working with the experts at Danske Bank, to jointly overcome the challenge of creating a very fast and responsive real-time scoring system that is agile with respect to model recalibration, accurate with respect to risk prediction, and responsive with respect to large data volumes in a real-time, high-velocity business environment," says George Butler, StatSoft's Vice President of Platform Development. "The final implementation is truly state-of-the-art, embedded into a state-of-the-art IT environment."
When Danske Bank decided to upgrade its IT systems for risk management and scoring in 2010, an opportunity arose to upgrade the older analytics platforms to a more effective and streamlined system that could easily support the various business needs for ETL, batch-scoring, reporting, and real-time decision support.
Danske Bank embarked on a nearly two-year-long, careful review of available analytic platforms and solutions, which resulted in the selection of STATISTICA Enterprise Decisioning Platform. In addition, Danske Bank contracted StatSoft to provide implementation, training and other services that guaranteed a smooth implementation within required project timelines.
StatSoft's STATISTICA solution is now in production to support Danske Bank's day-to-day business and real-time applications support. Danske Bank was particularly impressed with the flexibility and IT friendliness of the StatSoft solutions, as well as the breadth and depth of capabilities that they offered.
"We are very pleased with the effort StatSoft put into understanding the Danske Bank needs, and providing a solution to fulfill these needs," says Jens Chr. Ipsen, Danske Bank's First Vice President and Development Manager in Risk Management Systems. "The proposed solution was easy to implement and was delivered according to the agreed schedule and cost. StatSoft has been very responsive to changes in functionality, and the StatSoft staff are professional and friendly. The proposed solution is now in production and performing well."
"In an increasingly complex environment of risk models," concludes Mr. Ipsen, "the StatSoft implementation provides a good basis for keeping track of model versions, performance and content," concludes Mr. Ipsen.
"This integration of StatSoft's Decisioning Platform with DB's systems shows how adherence to established modern software and integration standards is a key factor for the successful and timely implementation of leading-edge analytics within a mature and elaborate IT environment serving multiple needs, as is the case at Danske Bank," notes Butler. "StatSoft's focus on delivering a modern software platform that is not only a top performer but also a 'good neighbor' to existing IT assets proved critical for generating immediate as well as long-term value."
Components of the STATISTICA platform in use at Danske Bank include STATISTICA Enterprise Server™, STATISTICA Data Miner with Process Optimization, STATISTICA Monitoring and Alerting Server, STATISTICA Live Score® server and the STATISTICA Decisioning Platform. The system is used especially for the development of analytic models and scoring of credit risks, which are mission-critical applications at every bank in the Danske Bank Group.
ABOUT DANSKE BANK
The Danske Bank Group, headquartered in Copenhagen, is the largest bank in Denmark and one of the leading financial enterprises in northern Europe. Danske Bank offers a full range of banking services organized in three business units--Personal Banking, Business Banking, and Corporates & Institutions --that span all of the Group's geographical markets.
http://www.danskebank.com/EN-UK/ABOUT-US/Pages/About-us.aspx
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ABOUT STATISTICA AND STATSOFT, INC.
StatSoft was founded in 1984 and is now one of the world's largest providers of analytics software, with 30 offices around the globe and more than one million users of STATISTICA software. StatSoft's solutions enjoy an extremely high level of user satisfaction across industries, as demonstrated in the unprecedented record of top ratings in practically all published reviews and large, independent surveys of analytics users worldwide. With its comprehensive suite of STATISTICA solutions for a wide variety of industries, StatSoft is a trusted partner of the world's largest organizations and businesses (including most of the Fortune 500 companies), providing mission-critical applications that help them increase productivity, control risk, reduce waste, streamline operations, achieve regulatory compliance, and protect the environment.
http://www.statsoft.com/company/
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