In 1982, Michael Jackson’s album, “Thriller,” was released and Digital Matrix Systems (DMS) opened for business.
This week, the risk management solution provider announced its 40th anniversary as a provider of data-driven solutions to leading financial institutions and insurance companies.
Since its inception in 1982 by founder and chief executive officer David McGough, DMS has evolved from providing access to data to helping leading companies access the power of that data through advanced analytics.
In the company’s formative years, the credit industry started a shift to automated credit reporting. DMS was recognized as the first vendor to provide access to all five credit bureaus from a common desktop platform.
Another early innovation was leading the shift from terminal-based credit bureau access to PC-based access.
Over the past 40 years, Digital Matrix Systems has introduced numerous solutions that help companies manage risk and improve the efficiency of their operations.
The DMS solution suite provides broad support of critical business activities, including loan origination, risk management, marketing, fraud mitigation, collections, and consumer dispute resolution.
The company works collaboratively with its clients and is currently honored to support a client roster of more than 500 companies.
In recent years, company highlights include a corporate headquarters move to Plano, Texas, the release of the next generation of DMS Summary Attributes, the launch of DMS TestLab, and enhancements to the CreditBrowser platform.
Aaron Trentacosta, who previously served as vice president of operations, was named executive vice president in June.
“I’m proud of what our team has accomplished and DMS’ continued innovation on behalf of our clients,” McGough said in a news release. “I want to thank our clients for the trust that they place in us and our employees for their commitment and dedication to delivering exceptional quality to our clients each and every day.”
For more information about Digital Matrix Systems and the company’s evolution, visit www.dms.net.
FrogData announced its new product this week during the Gartner Data & Analytics Summit 2022.
The company launched FrogData Decision Analytics Platform (FDAP), which is designed to be an affordable, data-to-decisions analytics platform for use across large and mid-sized companies.
FrogData highlighted the solution can give organizations the ability to leverage their data for analysis and decision support in operational scenarios, right down to the department manager level.
Part of the next generation of decision analytics systems, the FDAP is field deployable and accessible to all operations teams.
FDAP can provide the data-to-decisions solution that organizations need to leverage their data for analysis and decision support. It can enable each stage of the solution stack, from data to dashboards to advanced analytics and then decision support at enterprise scale.
Key features of FDAP include the following:
• Fully managed platform
• Data integration and management — from all sources
• Business logic to decision algorithm development
• Dashboards and data visualization
• Everyday decision analytics for operations
• Scalable support to meet all organizational needs
FrogData pitched that with minimal investment, advanced analytics and continuous upgrades make FDAP an attractive alternative to systems that are built to spec and to spreadsheet proliferation.
“Business operations today require making complex decisions quickly, despite having to deal with large amounts of data. With FDAP, companies can easily and affordably implement actionable insights that drive decision making at the everyday level,” FrogData president Tej Soni said in a news release. “Most organizations run on spreadsheets, and managers spend countless hours creating reports with data culled from different systems to help them make decisions.
“FDAP replaces spreadsheets, and reduces cost, by integrating existing data from the organization’s different systems and giving reports and insights to the managers who need it most,” Soni continued.
According to the Harvard Business Review, 74% of business leaders expect long-term gains in productivity by making data insights available to frontline employees. Despite this, 87% said in Harvard Business Review that frontline staff still need improved insights, driven by technology, to make good “in the moment” decisions.
FDAP can make data analytics adoption easier by eliminating costly and time-consuming design and implementation.
FrogData pointed out its technology stack is already built, is fully supported and easy to implement through an established and scalable engagement model which fully understands client requirements and builds data pipelines to gather data from their existing systems.
“FrogData is able to implement FDAP more affordably than its competitors because it’s designed to be configurable,” Soni said. “We have the technology in place to deliver decision analytics, and we can also provide consulting and experts at each stage so that operations are always supported.”
For more details, go to www.frogdata.com.
FICO chief analytics officer Scott Zoldi recently reached the century mark, achieving another data-science career milestone with his 100th software patent application.
Zoldi has been an inventor on 100 patent applications for machine learning and AI software technologies and techniques. Of the 100 patent applications, FICO said 47 have been granted, and 53 are pending.
In his nearly 20-year career with FICO, the innovations he has pioneered have helped FICO products transform entire industries. The company highlighted he has developed unique machine learning inventions for financial fraud, anti-money laundering, cybersecurity and collections, as well as fundamental data science capabilities.
“Dr. Scott Zoldi is a tremendous asset to FICO and our customers worldwide,” FICO chief executive officer Will Lansing said in a news release. “Scott’s non-stop creativity in developing AI, machine learning and analytic technologies is captured in the large portfolio of intellectual property he has produced. His work has propelled FICO’s competitive advantage in our fraud, compliance, cybersecurity and collections business units and within our corporate body of machine learning applications.
“Beyond the data science lab, Scott brings innovative thinking and enthusiasm to every customer conversation, industry speaking engagement and team meeting,” Lansing continued.
Zoldi’s patent work addresses a broad range of domains, including:
— Fraud analytics
— Cybersecurity
— Collections and credit risk
— Unstructured data analytics
— Unsupervised machine learning
— Utility analytics
— Self-learning machine learning models
— Explainable and ethical AI
— Deep learning algorithms
— Anti-money laundering
— Mobile analytics
“FICO is driven to help our customers operationalize analytic innovation,” said Stuart Wells, executive vice president of products and technology and chief technology officer at FICO. “They are looking for practical ways to put AI and machine learning to work today, to solve business problems and work more efficiently.
“Scott’s work is at the heart of our broader initiatives to operationalize AI, ML, and other emerging technologies,” Wells added.
In total, FICO currently holds 197 US and foreign patents, and 102 pending patent applications.
Zoldi and his team will present many of their latest analytic innovations at FICO World on Nov. 4-7 in New York. He will also present the closing keynote address on ethical AI.
“I am endlessly fascinated by the behavioral patterns and predictive insights that data can yield, and developing new machine learning algorithms to capture them,” Zoldi said. “During my nearly 20 years at FICO, I have had the opportunity to apply my analytic curiosity to develop machine learning applications addressing a wide range of seemingly unpredictable human and machine behaviors.
“I am thankful to be surrounded by brilliant colleagues at FICO who have influenced my thinking, and who have co-authored numerous of the patent applications. It is a true honor to have the novelty of my work acknowledged by patent offices around the globe and in use across FICO’s customer base,” Zoldi went on to say.
Zoldi previously participated in an episode of the Auto Remarketing Podcasted recorded in San Francisco earlier this year during the Vehicle Finance Conference hosted by the American Financial Services Association. Zoldi described what clean data really is.
That conversation is available below.
