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Morris Opazo implements Real Time Recommendation Engine-Cloud Platform for Interbank Perú

Executive Summary: 

The International Bank of Peru, today Interbank, with its purpose of helping Peruvians achieve their dreams today and its vision of being the best bank based on the best people, is one of the main financial institutions in the country focused on providing products innovative and convenient, close, innovative and agile service to more than 2 million customers.

Thanks to the bank’s growth and performance, in 2010 the three main risk rating agencies rated it as an investment grade company, thus continuing with its international offering by opening its “Commercial Representation Office” in Sao Paulo, Brazil, the fifth commercial partner of Peru, seeking to advise both Peruvian and Brazilian entrepreneurs to carry out successful businesses and identify investment opportunities.

Morris & Opazo, an Advanced Consultant partner of Amazon Web Services (AWS), has been a strategic ally of Interbank, knowing its needs and exchanging knowledge, with which, it was possible to meet all the objectives of the solution, allowing it to provide better recommendations to customers and non-customers through all their service channels in real time and offer increasingly contextual and personalized communication.

The problem

Interbank had limited capacity in its Recommendations model to process a large number of variables from its customers and users, so it needed to automate recommendations decisions in real time through its different digital channels.

Proposed solution

The Real Time Recommendation Engine – Cloud Platform was implemented, a serverless solution, working with data streaming and recommendation Machine Learning models, providing the best offer / action (NBA) to customers and non-customers through their digital and physical channels in real time, following the entity’s business rules.

Benefits

  • Agility: Greater agility and speed for compute and storage deployments, and reduced associated costs.
  • Reliability and Security: It has a scalable, secure and trusted global computing infrastructure.
  • Faster Deliveries to Market and Promotes Innovation:
    Following the Interbank business rule, it is possible to offer a service in real time in all service channels.
  • Important features at a low cost:
    The solution offers Interbank a monthly payment scheme for the use of the components.

    Does not require a license and has high availability

Technologies used

Lo The services used by this solution allow working under the Good Architecture Framework AWS, which describes the key concepts for designing and running workloads in the cloud. Some of these services are:

  • Amazon S3
  • AWS Kinesis Data Firehose
  • API-Gateway
  • Amazon DynamoDB
  • AWS Lambda
  • Amazon SageMaker
  • Amazon Athena
  • Cognito

Results:

It was possible to implement a Real Time Recommendation Engine Platform, a Cloud Solution, based on Machine Learning models that achieved efficiencies in its processes for recommending products to its clients, obtaining results of great impact on its strategic objectives.

This solution has high flexibility to process variables as needed and for cost management, as well as the ability to automate model retraining based on performance.

Interbank

The International Bank of Peru – Interbank, founded in 1897, is one of the main financial institutions in the country, focused on providing innovative products and quality of service to more than 2 million customers.

With more than 275 financial stores, more than 1,900 ATMs and 3,000 Interbank Agent correspondents nationwide, Interbank works to promote an active participation of its related actors, inside and outside, capable of generating trust and contributing to the sustained development of the company. and its subsidiaries.

Morris & Opazo

Is an advanced consulting partner of AWS in the data and analytics competition, with clients in Chile and the rest of the Americas. It works with public and private clients, leveraging big data analytics and cloud resources to deliver enhanced business solutions.

Your talent is your most valuable resource, expanding technical knowledge with your clients and staying at the forefront of innovation to help extract the most from available technology.

Source: AWS

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