EXL

The advent of technology has opened gateways to varieties of sectors like manufacturing, banking amongst others. On the flipside, banking and financial services firms are tasked with managing the brisk evolution in business models to meet the growing demands of digital consumers. One such company that addresses these challenges upfront and helps the banking organizations to implement the big data analytics in their day to day operations is EXL (NASDAQ: EXLS). The company supports the banking and financial services industry with an array of solutions designed to support consumer and commercial portfolios as well as traditional banking including risk analytics, marketing and regulatory analytics.

“Banking industry demands to leverage the big data that resides within the company and uses it to generate positive business outcomes,” observes Vivek Jetley, Senior Vice President, and Co-Head of EXL. EXL creates tools and techniques that allow clients to utilize data from non-traditional data sources and link up the data providers to create linkage between the consumer and digital world. “EXL is organizationally built up to help companies integrate analytics and conduct seamless business operations,” expounds Jetley. “Our ability to think of data science not as a horizontal but as a vertical makes us stand above our competitors,” he adds. The company offers MicroAnalytix Automated Modeling solution, a proprietary decision analytics methodology and platform that simplifies and automates clients’ abilities to prepare data, create, and reduce variables. MicroAnalytix has advanced in-built procedures to compare with past data set to ensure the input is accurate. Additionally, it provides business intelligence and advanced analytics insights for clients. To provide domain and function- specific benchmarking— like quality check and validation, it uses an automated tool, which allows more time for analysts and supervisors to drive better business results.

EXL is organizationally built up to help companies integrate analytics and conduct seamless business operations

EXL aims to merge statistical data mining with a consultative approach and modeling tools. In one instance, Jetley recalls a case in which EXL assisted one of the U.S. based Property and Casualty (P&C) Insurer with its claims fraud detection. EXL’s data scientists developed a data management solution—a fraud data mart, collating claims and staffing data both internal and external into a database. EXL leveraged social media analysis, text mining and network/link analysis to detect fraudulent applicants. The P&C Insurer witnessed an average increase in detection of auto and workers compensation fraud by 15 percent. The client’s annual cumulative savings were also in the range of $20-30 million.

EXL looks deeper to find meaningful ways to help the communities in which they can operate and serve. “We are committed to positive social and environmental change and actively engage in programs to help transform lives,” beams Jetley. Apart from areas like education, poverty and sustainability, EXL donates time and resources to support the health initiatives around the world.

The company boasts to cover a versatile range of functions and industries. As the demand for analytics is exploding, Jetley points that, “Industrializing the technological products is the need of the hour.” In this light, EXL is currently engaged in developing products in emerging areas like IoT, machine intelligence, pattern identification, robotics, and automation. Adding to these ventures, the company’s recent acquisition RPM Direct productized marketing analytics for better accuracy. As stated by Jetley, “Analytics now is no longer a fashion trend but critical for success.” Having set foot in the potential markets like South Africa and Latin America, EXL is anticipating a sizeable future growth in these geographies.