One of the main trends valued in the post-pandemic, solution will be one of the first novelties offered in partnership with its investee, Data Rudder
The pandemic has made it clear how fundamental technological advances are in the financial sector, and Artificial Intelligence (AI) has shown itself to be one of the main trends in this context. Always following market news, Sinqia, the largest technology provider for the financial market, expands its AI area and starts offering anti-fraud solutions. Always at the forefront, together with Data Rudder, the company will offer a product that offers the detection of transactional fraud at the time of PIX and at the time of credit onboarding, integrated into the Simply solution, one of the companies in the Sinqia Digital unit. Data Rudder will join in the company's Services offering.
The company already offers digital onboarding technology services, digital signature, credit recovery, solutions for Open Finance, and now, with Data Rudder, it will facilitate customer decision-making based on data using AI and machine learning.
Founded in 2018 in the city of Florianópolis (SC) by Rafaela Helbing and Thais Nolasco, Data Rudder started to be accelerated by Darwin in 2020. Today, its portfolio consists of important clients in the financial segment. In reference to the car brand famous for the “Back to the Future” trilogy, its DeLorean product offers fast, efficient machine learning algorithms with a user-friendly and transparent interface. Since February 2021, the company has been part of Sinqia's portfolio through a direct investment from Torq Ventures, its Corporate Venture Capital (CVC) program.
Karine Nogueira, director of IT Services Operations at Sinqia, explains that the financial market offers an immense amount of data, and when this type of asset is offered, it is necessary to have a place to extract it from. According to her, only one platform can, using algorithms, promote the correct reading and interpretation of this data. “Sinqia is the largest provider of technology and innovation for the financial sector. And, in partnership with Data Rudder, it complements the trend and the need of the future market, making the company able to support all the needs of a business”, he points out.
following the trends
The company keeps an eye on a market that grows exponentially. According to the report “Deloitte – FEBRABAN Research on Banking Technology and AI – 2022”, 100% of the 23 banks that participated in the survey intend to invest in AI this year. In 2021, 78% already had the technology. The top priority for these banks in 2022 (78%) is to promote the analysis and exploitation of data obtained via Open Finance, which is optimized by AI. The survey shows that technology still has the ability to improve efficiency, increase differentiation and influence the customer experience, being one of the main bets of banks for 2022. The survey shows that this is one of the industries with the highest volume of customers and data, and the banking sector is under pressure to provide hyper-personalization of services, products and prices for all segments, with immediate, fluid and personalized experiences, as in industries of other segments.
Credit: Website Data Rudder
With this technology, companies have the opportunity to improve how the market uses and interprets data and how users consume offers, products and services that institutions are able to offer. AI and machine learning favor the understanding that companies have of their consumers, promoting a positive experience for them and even reinforcing their loyalty”, reinforces João Carlos Bolonha, vice president of Products, People, Technology and Sales at Sinqia.
End-to-end platform
The pandemic forced consumers to seek digital means to make purchases, as the population had to adopt restrictive measures, drastically affecting the way they consume. The scenario favored the growth in frauds that occurred through purchases made over the internet. Research carried out by the National Confederation of Shopkeepers (CNDL) and the Credit Protection Service (SPC Brasil), in partnership with Sebrae, points out that 59% of internet users suffered some type of financial fraud in Brazil in 2021, an increase of 28% compared to the survey conducted in 2019. The “financial services” segment made use of AI primarily to improve its customer service chatbots, and its main future use case is fraud detection and anti-money laundering, from According to a study carried out by PwC,
Touted as the most complete anti-fraud solution on the market, DeLorean was born to predict the future for the customer, taking him all the probabilities to find the best path for the business strategy. Its anti-fraud solution offers more than 30 algorithms that run in parallel in order to find the best fit for each client. “We are what we call the Glass box, as we were able to bring transparency about the influencing factors of each forecast”, explains Rafaela Helbing, co-founder and CEO of Data Rudder. “In all, there are more than five layers of protection that can be orchestrated in a user-friendly way on the platform, aiming to reduce costs and efficiently detect fraud”, says Rafaela. In the last year, there were 76% of detection in value of fraud avoided by its customers, in addition to 42% of reduction in derivation for the manual analysis table.
What makes the platform so efficient are its differentials, such as: machine learning algorithms customized for the business, possibility of creating and simulating in backtesting of policies and/or parameterizable rules through the interface, monitoring of the behavior of regions and KPIs, in addition to the easy test, a function that eliminates integration for tests and increases the speed in the validation of the generated return. “I also believe that another important differential that we present is our transparency, as our client, unlike other intelligences, is able to receive a score that provides explainability, and all this on an end-to-end platform, with functions defined based on the strategy of the client, which guarantees him total autonomy”, reinforces the CEO.
Sinqia applications
As a company focused on the financial market, Sinqia has a very strong mindset that only technology is capable of offering greater effectiveness and ease for its customers, and promotes strategic partnerships to accelerate innovation in the market. For this reason, it has Data Rudder as its partner in the co-creation of services for the financial segments and sub-segments it has. According to Bologna, Data Rudder is an AI treadmill that simplifies data entry, maintenance and algorithms, thus facilitating the detection of possible fraud on the PIX, and offers onboarding that helps the customer stay safe.
“3 years ago, there was a limitation of projects that could be carried out with a machine. Nowadays, the combination of products and technology, processes and people makes it possible to bring a 'spice' to digital transformation projects for services in financial institutions”, he points out. The executive emphasizes that digital transformation is not always connected to the customer's mind, but it is necessary to show the market that it is possible, through a platform, to co-create decision-making using data. “Data Rudder offers a unique combination of ingredients, which provides a quick and very effective result”, he concludes.
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