Lloyds TSB is deploying data mining automation technology from KXEN across a 40-strong team to improve the speed, productivity and capability of its internal analytics resource.
Adopting KXEN's Analytic Framework after an extensive six-month evaluation the bank has been able to bring previously outsourced work back in house, says the vendor, and has seen modelling timescales slashed from days or weeks to just a few hours.
The technology is used in several applications at the bank including marketing segmentation and incremental response modelling.
Lloyds TSB head of value solutions Simon Samuel says the package has significantly cut modelling timeframes.
"Two to three week timescales to turn round models and analysis are no longer acceptable within the current environment and with KXEN we're now doing in hours what used to take days," he says. "KXEN has enabled us to differentiate our modeling resource to increase both the breadth and depth of our capability."