To combat the challenges lenders face in deploying and managing models, Experian recently announced the launch of Ascend Ops. Experian’s first-of-its-kind solution empowers lenders to deploy new features and models in days or weeks instead of months, according to a press release.
While optimized for financial services, the company said Ascend Ops can be used to build, deploy and manage models across industries. The solution can deploy and run models created in any popular open-source language or development platform without recoding or additional technical support.
“Ascend Ops is a game changer in operational efficiency and, most importantly, in helping our clients protect and better serve consumers without making significant investments in their infrastructure,” Scott Brown, president, Consumer Information Services, said in the release. “Our solution provides a smarter, faster and better way for our clients to rapidly deploy and manage models for key use cases, including marketing, underwriting, fraud prevention, account management and more.”
To date, more than 50 financial institutions are early adopters of Ascend Ops to transform their model deployment and management operations.
“In today’s rapidly changing environment, 95 percent of lenders are using advanced analytics to stay ahead and best serve consumers,” the company said. “As models become more sophisticated, deployment timelines and costs can increase. Experian’s research shows it takes 15 months on average to build a model for credit decisioning and 55 percent of lenders have built models that have not made it to production.”