Korus Consulting helped Absolut Bank improve the accuracy of forecast analytics

2023: Building an ML Model Factory

On March 20, 2023, Korus Consulting announced that it had created an environment for Absolut Bank for a centralized ML model factory based on Yandex.Cloud. The decision will make it possible to better assess the risks associated with the provision of loans, guarantees and other banking products.

Previously, the bank has already worked with Yandex.Cloud technologies, but as part of working with KORUS Consulting, for the first time, the cloud service was used as an environment for machine learning models. KORUS Consulting specialists have created an environment for a centralized ML model factory using data from corporate storage and internal information systems.

The environment allows bank data scientists to test various solutions aimed at improving the accuracy of forecasts and "land" ML models on a specific process as part of working with a client. For example, with the help of machine learning models and available data sets, it is possible to analyze and predict in more detail the likelihood of non-repayment of credit, default and other risks. It became possible to create and test automatic processes for assessing the credit potential of customers.

Thanks to the use of a large stack of services of the Yandex.Cloud platform (tools for processing large amounts of data, managing analytical DBMS, creating and managing clusters), Absolut Bank has become available a full cycle of work with ML models.

The solution of KORUS Consulting based on Yandex.Cloud will help the bank improve the processes of making credit and commercial decisions based on data, as well as increase the speed of introducing new models of risk assessment and profitability of banking products, "said Nikolai Vasilevsky, Deputy Chairman of the Board of Absolut Bank.

Today's cloud-ready organizations respond more quickly to market changes and adapt more easily to them. This is proved by the example of Absolut Bank, which consistently creates a data-driven infrastructure and promptly makes accurate management decisions based on big data analysis. The created model factory is another step towards customer focus and the most efficient operation of the bank's IT infrastructure, "said Alexey Kuchin, Business Development Director of the Analytical Solutions Department of KORUS Consulting Group.

2022: Move to Yandex Cloud

Absolut Bank announced on September 23, 2022, the choice cloudy of a platform Yandex Cloud for flexible development and scaling of large bank products. By moving to cloud bank , it will speed up the entry of client solutions into the market and minimize risks when checking business ideas. As of September 2022, more than 50% of Absolut Bank's developments are already being tested on a cloud platform. Yandex Cloud In 2023, the bank plans to use cloud technology in each project.

In 2022, Absolut Bank increased its consumption of services Yandex Cloud by 3 times. The bank's specialists use the Yandex Cloud capacity in the required amount on demand - on average, it takes several minutes to build up the required amount of resources. This flexibility allows the bank's technical team to create an unlimited number of test benches and quickly expand the capabilities of key services for the business.

In addition to testing and scaling existing products, Absolut Bank launches updated services in the cloud. Thus, the bank fully developed and piloted one of the innovative products on the platform - the Digital Factoring conveyor for legal entities. The company also deployed an analytical platform for the corporate data office in Yandex Cloud. This made it possible to quickly process big data, conveniently work with predictive and advisory systems and, ultimately, increase the overall digitalization of the entire business.

The Absolut Bank team builds full-fledged CI/CD processes for developing applications in the cloud. The Bank actively uses container development services to create hosting and digital products, a managed platform data for collecting, storages analysis and, visualization information services based on and. machine learning serverless computing

For the development of the bank in all areas of business, the company selects partners with high technological expertise in each niche, which allows you to quickly launch the products and services necessary for the bank's customers, noted Tatyana Ushkova, Chairman of the Board of Absolut Bank.

The banking industry remains one of the most active in terms of cloud services consumption. At the same time, many companies have already moved away from experiments with the cloud, they use it to improve the reliability of business-critical systems. Absolut Bank is one of such industry leaders that is completely changing the industry IT model. Yandex Cloud provides the bank with infrastructure, and contributes to the development of products, told Alexander Chernikov, commercial director of the Yandex Cloud platform.