About Dun & Bradstreet
Dun and Bradstreet is a global corporation that provides its partner organizations with information on commercial credit, data & analytics reports on businesses. D&B is globally recognized for generating an organization’s business credit reports that help third party stakeholders to analyze the financial performance and health of the organization
Currently, Dun & Bradstreet generates analytics for about 100 million companies globally. Its proprietary suite of reports is helping organizations to leverage analytics to decide whether to allocate business credit to a customer, continue or initiate business with others or to establish their credibility & reputation in the industry.
The Risk Management platform needed an addendum for an efficient payment fraud detection mechanism
Dun & Bradstreet’s risk management platform allowed partner organizations to access deeper intelligence to get a clear picture of the credit history, payment defaults or potentially fraudulent activities of the organizations they were doing business with. This helped them to mitigate risks through receiving notifications & alerts whenever a business begins to pose a threat in the future.
And for this; system needs to be efficient and meet the SLAs, alerts & notifications have to be processed fast so that the partner organizations using the platform are able to modify their business strategies right on time so that they don’t suffer any losses. However, there were significant roadblocks in achieving D&B’s goals because of the challenges that the Risk Management platform was bringing out.
Let’s understand these challenges at a deeper level.
For partner organizations relying on the Dun & Bradstreet platform, timing is the most critical factor. If there is a bankruptcy report or a default payment in the credit history of one of the companies that a partner organization is associated with, then they would need to get alerts on that immediately. But what made this difficult was the fact that there were millions of customers which gave rise to huge volumes of alerts on an hourly basis.
Major challenges that D&B was facing:
Solutions: Succeeding in fraud analytics
Knoldus collaborated with the Dun & Bradstreet engineering team to identify the business needs and document critical non-functional requirements. D&B wanted to make sure that it meets all the requirements of its service-level agreement (SLAs) The solution was laid down with:
A glimpse of D&B’s Risk Management Platform