The Visible and Invisible Risks of Cryptocurrency for Banks and Credit Unions - PDF
The Visible and Invisible Risks of Cryptocurrency for Banks and Credit Unions
The allure of investing early in the “next big thing” has led to increased interest in crypto investment. As a new industry, it is highly unregulated compared to other types of investments and banking. While there is potential for a big win, there is strong potential for a big lose. As a bank or credit union, here’s what you need to know to protect your institution.
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Aunalytics Innovation Lab Accelerates Midsize Financial Institution Business Outcomes with AI Intelligence Services
Powerful Analytics/Intelligence Services and Experienced Data Science Team Provides Affordable Alternative to HyperCloud-based Solutions
South Bend, IN (April 12, 2022) - Aunalytics, a leading data platform company delivering Insights-as-a-Service for enterprise businesses, today highlighted AI-powered Business Intelligence use cases built by the organization’s Innovation Lab. Established to provide deep insights to midsize financial services organizations lacking large AI budgets, the Aunalytics® Innovation Lab’s team of data scientists create and deploy Smart FeaturesTM (data-driven analytic insights) for companies seeking specific predictive functionality to solve mission critical business challenges.
According to a recent Deloitte survey of IT and line-of-business executives, “86% of financial services AI adopters say that AI will be very or critically important to the success of their business over the next two years. While the banking sector has long been technology-dependent and data-intensive, new data-enabled AI technology has the capability to drive innovation further and faster than ever before. AI can help improve efficiency, enable a growth agenda, boost differentiation, manage risk and regulatory needs, and positively influence customer experience.”
Moving from reactive to proactive, predictive and prescriptive IT solutions are one of the key benefits of integrating a properly architected intelligence service enabled by machine learning, deep learning and artificial intelligence. For example, when a properly orchestrated AI/ML solution is in place, a bank can identify a customer purchase from the Home Depot (for example) and deliver predictive insights suggesting the customer may need a HELOC loan (Home Equity Line of Credit). Bank marketing is then able to take advantage of that information through predictive or proactive sales or marketing outreach. Because of the bottom-line impact this technology can have on midsize financial institutions competing against the Fortune 500, there is rapidly increasing demand for the technology nationwide.
The development of AI powered Smart Features for Aunalytics financial services customers is a top Innovation Lab priority. Smart Features are customized to leverage insights obtained from data-driven machine learning models. The Aunalytics service model includes a private analytics cloud as part of the end to end solution, so that customers can manage compute and storage costs associated with data analytics. Part of the customization is data mining transactional banking data and enriching it with the inclusion of algorithm-powered high value fields appended to customer records that reveal insights about a customer. Smart Features provide answers to pressing business questions in order to recommend next steps to take with a particular customer to deepen or extend the relationship, provide targeted sales strategies and marketing campaigns for better customer experiences that yield more profitable business outcomes.
By providing extensive data science expertise to answer industry and client specific business questions, Aunalytics is showcasing the promise of data-driven intelligence for midmarket financial services. As a result, these organizations can better understand a particular customer, product or service viability through comparison to other customers and/or data. Whether there is an interest in knowing if a customer is likely to select a new financial product, her potential as a long-term customer, or any other number of questions, the Aunalytics Innovation Lab team of data scientists and financial industry business analysts are experienced and committed to answering these questions based on years of experience with other small to midsize financial establishments. Other Smart Features are aimed at providing actionable insights for operational efficiency, risk of loan default at time of application, customers at risk for crypto fraud, where to open or close bank branches, ways to minimize customer impact from new federal regulations regarding overdraft protection, and much more.
“Demand for intelligence services by financial services organizations is starting off strong in 2022. Therefore, we are building in a number of new Smart Features to enhance system capabilities,” said David Cieslak, Chief Data Scientist. “New functionality will support evolving compliance and security requirements and find opportunities in a financial institution’s own data. Instead of using national averages, we provide insights based on what is actually happening in a financial institution and enrich the data for predictive analytics. Our goal is to enable mid-market financial institutions, such as community banks and credit unions, to use data in a powerful way to enhance their personalized services to better compete against Fortune 500 banks.”
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About Aunalytics
Aunalytics is a data platform company delivering answers for your business. Named a Digital Innovator by analyst firm Intellyx, and selected for the prestigious Inc. 5000 list, Aunalytics provides Insights-as-a-Service to answer enterprise and mid-sized companies’ most important IT and business questions. The Aunalytics® cloud-native data platform is built for universal data access, advanced analytics and AI while unifying disparate data silos into a single golden record of accurate, actionable business information. Its DaybreakTM industry intelligent data mart combined with the power of the Aunalytics data platform provides industry-specific data models with built-in queries and AI to ensure access to timely, accurate data and answers to critical business and IT questions. Through its side-by-side digital transformation model, Aunalytics provides on-demand scalable access to technology, data science, and AI experts to seamlessly transform members’ businesses. To learn more contact us at +1 855-799-DATA or visit Aunalytics at https://www.aunalytics.com or on Twitter and LinkedIn.
PR Contact:
Denise Nelson
The Ventana Group for Aunalytics
(925) 858-5198
dnelson@theventanagroup.com
Michiana Hematology Oncology Named an IDC Future of Intelligence Award Winner
Oncology practice digitally transforms and simplifies healthcare business complexities with state-of-the-art technology from AC3 and Aunalytics
South Bend, IN (March 31, 2022) – Michiana Hematology Oncology, which delivers world-class cancer care to local communities, has been named an IDC Future of Intelligence winner based on its use of AC3’s oncology practice intelligence platform, powered by Aunalytics’ advanced data management platform and revenue cycle analytics. The award program acknowledges organizations that have demonstrated outstanding capabilities related to increasing enterprise intelligence and as a result, improved business outcomes.
IDC commends those with forward thinking initiatives that span across four key capabilities of enterprise intelligence – Ability to Synthesize Information, Capacity to Learn, Delivery of Insights at Scale, and Data Culture – and those who excel in any one of these four areas. Michiana Hematology Oncology (MHO) was named a winner in the Capacity to Learn category and will be recognized at an awards ceremony in May 2022.
MHO implemented AC3’s oncology practice intelligence platform, powered by Aunalytics’ advanced data management platform and revenue cycle analytics, to digitally transform and simplify healthcare business complexities. Oncology care often involves multiple providers, treatments and newly emerging drugs that are added to patient care as cancer science continually advances. The billing process is particularly complicated and often riddled with cumbersome manual processes. The alliance between AC3 and Aunalytics offers MHO advanced analytics and valuable business insights to improve operations and collect revenue in an accurate and timely manner. This is key to driving the overall health of an oncology practice.
Using AC3’s oncology intelligence solutions with advanced analytics from Aunalytics, MHO understands its business more quickly, makes better decisions that are data driven, and achieves greater results, such as getting new leadership up to speed quickly based on a more accurate picture. In addition, the practice can manage cash flow more efficiently with visibility into ever changing data, with a clear picture of its actual allowed rate is vs. billed rate. As a result, MHO gains a keener view of the true health of the practice, based on data accuracy - more data is collected, and collected more precisely.
“Michiana Hematology Oncology demonstrated that enterprise intelligence can help achieve operational efficiencies regardless of the size and the industry of an organization. MHO strives to deliver the best care to its patients across the Midwest region while reducing the administrative burden on its employees,” said Chandana Gopal, Research Director, Future of Intelligence at IDC. “The organization is recognized as a winner in the Capacity to Learn category because it implemented initiatives that were continuously improved and fostered collaboration between its administrative team, clinical staff, and other entities that ultimately improve patient care."
To learn more about IDC’s Future of Enterprise Awards Program, visit here.
About Michiana Hematology Oncology
Established in 1968, Michiana Hematology Oncology is the largest cancer care organization of its kind in northern Indiana, with offices in Crown Point, Chesterton, Elkhart, Hobart, Mishawaka, Plymouth, Valparaiso and Westville. The organization consists of 11 Medical Oncologists, three Radiation Oncologists and four Advanced Practice nurses who provide integrated and comprehensive medical and radiation oncology services for patients throughout the region. For more information, visit www.TheHeartOfCancerCare.com.
About AC3
AC3’s practice intelligence platform digitally transforms oncology practices into modern and sustainable operations that reduce the overall cost of care. Through its oncology data model which unites practice management, healthcare data and innovative technology intelligence into a single environment, AC3 delivers full transparency and automated actionable insights to simplify workflows, increase efficiency, and secure revenue integrity. Guided by a dedicated side-by-side client success team, AC3 simplifies oncology business complexities empowering practices to spend more time on what matters – fighting cancer. To learn more, visit https://ac3health.com/
About Aunalytics
Aunalytics is a data platform company delivering answers for your business. Named a Digital Innovator by analyst firm Intellyx, and selected for the prestigious Inc. 5000 list, Aunalytics provides Insights-as-a-Service to answer enterprise and mid-sized companies’ most important IT and business questions. The Aunalytics® cloud-native data platform is built for universal data access, advanced analytics and AI while unifying disparate data silos into a single golden record of accurate, actionable business information. Its DaybreakTM industry intelligent data mart combined with the power of the Aunalytics data platform provides industry-specific data models with built-in queries and AI to ensure access to timely, accurate data and answers to critical business and IT questions. Through its side-by-side digital transformation model, Aunalytics provides on-demand scalable access to technology, data science, and AI experts to seamlessly transform customers’ businesses. To learn more contact us at +1 855-799-DATA or visit Aunalytics at https://www.aunalytics.com or on Twitter and LinkedIn.
PR Contact:
Denise Nelson
The Ventana Group for Aunalytics
(925) 858-5198
dnelson@theventanagroup.com
Managed IT Services and Data Recovery Offerings from Aunalytics Solve Emergency IT Challenges for EMI
Over the past several years, information technology has taken center stage at Ohio-based landscaping company Environmental Management Inc. (EMI). Established more than two decades ago, EMI has grown to be one of the largest landscape companies in Central Ohio. Serving major business and governmental customers throughout the region, EMI continues to grow, thereby increasing demand for managed IT services in multiple business areas.
Managing business-critical IT environments is a time-consuming process that many times can require specialists with the experience to deliver the highest performing infrastructure possible. EMI has seen this first-hand over the past several years as the company has had to recover from destroyed network infrastructure caused by a catastrophic lightning strike, a disruptive cyberattack involving ransomware with the encryption of important company information, and the need to reconfigure its computing endpoints quickly because of the occurrence of Covid-19 to accommodate “work from home” environments for its team.
Aunalytics provides a broad range of managed IT solutions, including network, server management, and PC management, as well as Office 365, data recovery and business continuity support. EMI employed several services which have helped to positively transform the company’s operations.
The side-by-side support model employed by Aunalytics has been an especially impactful benefit of this partnership. “While there are many important services provided, perhaps the most widely used and important for EMI is the 24×7 help desk which is essentially an IT department on demand,” said Tom Kiefer, CFO for EMI. “Whether it’s an employee who accidentally deleted a file or a catastrophic lightning strike, the team behind the Aunalytics Ohio help desk has been insightful and fast to act, allowing our employees to remain online and productive.”
Read the full case study to see how EMI further benefitted from the managed IT and data recovery services provided by Aunalytics Ohio.
