Angoss helps organizations mitigate operational risk arising from business functions. Basel II regulations define operational risk as the risk of loss resulting from inadequate or failed internal processes, people and systems—or from external events.
Credit lenders, financial traders and insurers can manage losses within their risk tolerance while pursuing financial objectives by applying data mining to existing data and by creating models with predictive analytics software.
Angoss offers predictive analytics software and solutions to provide financial institutions, lending organizations and insurers with the analytics tools and results to help ensure optimal management of operational risk and its unique challenges.
Operational risk solutions include:
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Fraud mitigation is a constant activity. As soon as an organization has reduced one fraud spike, another may arise. Angoss software and solutions analyze fraud patterns and model fraud cases via tools such as neural networks to build more effective, responsive strategies.
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Collections and recovery strategy is critical to customer retention and profitability targets, particularly in highly competitive markets or during periods of economic downturn. Angoss software and solutions allow users to visualize portfolio analytics with collections scorecards and optimized strategies that include multiple Key Performance Indicators (KPIs).
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Claims are a primary concern for insurance companies that need to protect themselves against members and providers who submit fraudulent claims or abuse claim processes. Angoss software and solutions analyze claims portfolios to discover key drivers of claims costs and loss ratios—and proactively identify clients with high levels of exception claimants and providers.