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Title
Discovery Bank combines ML and GenAI on Databricks to power a hyper-personalized next-best-action banking model
…ta ecosystem on the Databricks Data + AI Platform has allowed Discovery Bank to integrate data processors, advanced ML models, complex actuarial models and generative AI capabilities across the client lifecycle. With these granular insights and data-driven applications, Discovery Bank can…
Description
Discovery Bank built a next-best-action (NBA) framework on the Databricks Data + AI Platform, using Delta Lake, MLflow and Unity Catalog, that combines actuarial models, machine learning and generative AI to create a behavioral fingerprint for each client, driving segmentation, pricing, risk management and AI-generated communication templates for client servicing. The NBA model produced a 40% uplift in the impact of customer engagement activities, with data processing 20x faster and data product creation 5x faster than the bank's legacy environment.
…y combining and measuring client actions, milestones, pathways and behaviors to create a behavioral fingerprint for each client. This fingerprint informs segmentation within marketing strategies, business pricing and risk management, client servicing and fraud management, and behavioral change initiatives within the bank’s next-best-action (NBA) fra…
…ed ML framework that eliminates SQL conversions and simplifies code management. Data processing times are 20x faster and data product creation and implementation times are 5x faster. Taking advantage of cross-team collaboration, reduced complexity and high-effic…
Company
Discovery Bank
…implementation times 40% Uplift in the impact of customer engagement activities Discovery Bank was launched in 2019 to transform banking in South Africa with their shared value banking model. By incentivizing and empowering clients…
Country
South Africa
…implementation times 40% Uplift in the impact of customer engagement activities Discovery Bank was launched in 2019 to transform banking in South Africa with their shared value banking model. By incentivizing and empowering clients…
Industry
Financial Services
…hat accounts for client, business and societal impacts. Share this post Details Industry : Financial Services Use Case : Data Science Cloud : Azure Product : Delta Lake , Unity Catalog Read…
Problem
Discovery Bank's legacy on-premises environment struggled to keep up with the volume and velocity of data needed for its shared value banking model, lacking the flexibility to rapidly iterate on data products due to the complexity of integrating multiple components in its ecosystem that were often not geared for advanced analytics.
…wer applications throughout the client lifecycle and across business functions. Their legacy on-premises environment struggled to keep up with the volume and velocity of data required to enable this ecosystem. Stuart Emslie, Head of Actuarial and Data Science at Discovery Bank, explained,…
Solution
Discovery Bank standardized and consolidated data, ML and AI on the Databricks Data + AI Platform, using the medallion architecture in Delta Lake for automated ETL workflows, MLflow to build model requirements for governance and quality, and Unity Catalog for lineage, table history and access controls, integrating data processors, advanced ML models, complex actuarial models and generative AI across the client lifecycle to power a next-best-action framework.
…and modeling pipelines, enabling a data ecosystem that is secure and reliable. Using the medallion architecture in Delta Lake, Discovery Bank leverages automated workflows to schedule ETL pipelines that quickly consolidate and prepare raw data for the correct layer and use cas…
Business value
Discovery Bank achieved a return on investment of more than 500%, data processing times are 20x faster and data product creation and implementation times are 5x faster, model-building capacity increased to more than 300 models per day, and the next-best-action model produced a 40% uplift in the impact of customer engagement initiatives.
…se in time to insights, time to production and ultimately, data-led innovation, yielding a significant return on investment of more than 500%. With the Databricks Data + AI Platform, Discovery Bank data practitioners can…
Technology
Delta Lake, Unity Catalog, MLflow
…ost Details Industry : Financial Services Use Case : Data Science Cloud : Azure Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for free Learn more about our product Talk…
AI capabilities
Machine Learning, Recommendation & Personalization, Generative AI
…to integrate data processors, advanced ML models, complex actuarial models and generative AI capabilities across the client lifecycle. With these granular insights and data-driven applications, Discovery Bank can…
Use case type
Personalisation
…y combining and measuring client actions, milestones, pathways and behaviors to create a behavioral fingerprint for each client. This fingerprint informs segmentation within marketing strategies, business pr…
Headline outcome
…9 hours to 10 minutes 5x Faster data product creation and implementation times 40% Uplift in the impact of customer engagement activities Discovery Bank was launched in 2019 to transform banking in South Africa with t…
Deployment model
cloud
…. Share this post Details Industry : Financial Services Use Case : Data Science Cloud : Azure Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for f…
Deployment options
cloud
…. Share this post Details Industry : Financial Services Use Case : Data Science Cloud : Azure Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for f…
