Blank Bank expands business tasks using ML models enriched with external data

2024: AI Compliance Optimization

Bank for Business Blank, with the support of IT partner GlowByte, has improved its AML model for AI Compliance scoring, enriching it with data using the Upgini library. The tool helped to find external relevant data about the bank's clients, which increased the model metrics when solving the problem of anti-fraud among legal entities. GlowByte announced this on October 28, 2024.

Upgini open source is a library on. Python It offers access to hundreds of open and commercial data sources around the world. 

Many companies, having exhausted their internal resource, are looking for additional information about customers. Our Upgini partner allows you to effectively find useful sources among hundreds of suppliers. In fact, this is a marketplace for suppliers. The service provides consumers with a convenient tool for finding data relevant for their business tasks, reducing time-to-market on RND to enrich existing models and increase their quality or to search for external data when their own are not enough. Thanks to this, the business gets an excellent tool that gives competitive quality in the market, "explained Rakhmet Ojayev, senior analyst at Advanced Analytics GlowByte.

Thanks to the Upgini product, Blank Bank will be able to find data for various business tasks, test them for free locally in its internal circuit and check how much they enrich the current models.  

Exactly a year ago, we introduced AML models into our bank compliance, and already in the pilot project they made it possible to significantly increase the reliability of customer scoring and reduce the attention of financial monitoring to customers. Additional external data will improve current and solve new tasks due to lack of information. Thus, we continue to adapt the banking platform within the framework of a customer-centric approach to building services, "said Ekaterina Moiseeva, head of the financial monitoring service of the bank for business" Blank. "