SEI Investments uses Fair Isaac technology for financial platform
12 February 2004 | 1705 views | 0
Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, announced today that SEI Investments (Nasdaq:SEIC) is utilizing Fair Isaac Blaze Advisor business rules management software to create a single enabling platform for delivering financial wellness solutions to its clients. SEI is a global provider of asset management and investment technology solutions.
Fair Isaac Blaze Advisor technology will help SEI address critical business decisions related to enterprise risk, including important regulatory and compliance requirements. The software also will support automated processing of many business transactions without human intervention, taking into account such considerations as suitability of a transaction to stated goals and preferences of the client. Blaze Advisor is one of the key technologies supporting SEI's strategy for the Financial Wellness Platform designed for corporations, financial institutions, financial advisors, and affluent families.
"Fair Isaac Blaze Advisor plays an important role in enabling SEI to deliver a single integrated financial wellness platform to a diverse set of clients," said Russ Kliman, Director of Product Strategy for SEI Investments. "We needed a rules technology platform that provided us with 'best-in-class' capabilities to not only support our needs today, but also our vision, and we believe Fair Isaac Blaze Advisor delivers on that promise."
SEI Investments selected Blaze Advisor for its proven ability to build, automate and improve the performance and maintainability of complex business policies across an enterprise. As part of Fair Isaac's configurable applications offerings for enterprise decision management, Blaze Advisor implements both data-driven and judgment-based decisions derived from models, analytics and corporate policies, and accelerates the design, development, execution, and maintenance of rules-based business strategies. SEI also values Blaze Advisor's ability to incorporate many data sources and data communication formats in its decision processing and to deliver a production system flexible enough to run on a wide variety of operating systems and application platforms.
"Fair Isaac has longstanding expertise in providing rules management and decision technologies to the financial services market," said Brett Bachman, vice president of decision management software and solutions at Fair Isaac. "Our enterprise decision management applications are well-suited for supporting configurable software solutions in many areas, including wealth management. Blaze Advisor will assist SEI in the delivery of sound investment decisions to a broad range of customers, while helping the company manage risk and ensure regulatory compliance."
Platforms that enable financial markets must have the necessary rules technology to ensure regulatory and compliance checks, transaction management governance, entitlements, and operational business policies. Fair Isaac Blaze Advisor allows a standardized definition of these diverse elements and the decisions that must be considered in the course of daily operations. It provides secure and controlled access to key decision points so that individual users or corporate development teams can fine-tune the application to fit their policies and business methods. New regulations such as Patriot Act cross checks and domestic or international money laundering detection rules can be added in less time and for less cost than is possible with traditional application programming code.
Advanced data analytics, predictive modeling, customer segmentation, and treatment strategy optimization complement Blaze Advisor's business rules management and execution to bring new understanding of -- and control over -- business decisions to customer-facing companies. As companies make better business decisions, they lower operating costs, increase revenues, and derive greater value from every customer transaction.