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Incedo Inc., Florham Park, New Jersey, United States: Incedo LighthouseTM: AI-driven platform

Company: Incedo Inc.
Company Description: We are a global digital transformation expert empowering companies to realize sustainable business impact from their digital investments.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Artificial Intelligence/ Machine Learning Solution - Other
2024 Stevie Winner Nomination Title: Incedo's LighthouseTM
  1. Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
    Written answers to the questions
  2. If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
  3. If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:

    Incedo LighthouseTM was originally released on May 3rd, 2022, at the T3 Conference in Denton, TX. The latest update of the platform was released on Jan 24th, 2024.

  4. If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):

    Total 349 words used.

    Enterprises struggle to derive insights at speed from data, as the process of problem discovery is manual, obscure, and resource intensive. Incedo LighthouseTM helps organizations get automated problem discovery and action recommendations. It helps firms with data-driven decisions that improve business KPIs.

    LighthouseTM enables a ‘data-insights-actions’ journey to realize business outcomes. It is being utilized by 2 of the top 10 banks in the US.

    Features

    • Automated discovery of ongoing issues from large datasets with user-defined KPI trees - linking together disparate KPIs to tell the full story of performance movement

    • Advanced AI-models for customer micro-segmentation to establish correlation of significant data features to KPIs

    • Fine-tuned ML combined with Gen AI  to derive insights in minutes

    • Statistical experimentation and impact monitoring of deployed actions with anomaly detection

    Functions & Benefits

    1. AI and Gen AI Driven Insights at Scale

    Empowers executives with a centralized insights hub for reviewing AI-generated business insights, curated using Gen-AI models. These can be updated by business analysts and SMEs through an efficient review workflow. Through the intuitive control center, executives gain immediate access to AI-derived insights – maximizing accuracy and business outcomes.

    1. Analyze with Ease with AI-Powered Data Interrogation

    The platform unravels hidden patterns and optimizes data analysis experience with AI+human workflows. Business executives gain access to AI-powered root cause analysis, so performance anomalies are identified automatically. Insights delivered directly through Gen AI chatbot answers user queries with insights.

    1. Accurate Problem Identification

    Intelligent Root Cause Analysis continually monitors metrics and detects anomalies in KPIs to draw managerial attention directly to the specific problematic cohorts such as customers, transactions, devices etc. 

    1. Superior Decisions at Speed - from Insights to Actions

    AI-driven Cohort Analyzer divides the population (customers) into subgroups leveraging features in the data such as income level, risk profile, creditworthiness, demographics, etc. Thereby, it helps identify target customers effectively at the cohort level and recommend the next best action improving business performance.

    1. Easy Integration with Existing Tech Stack

    Easily fuses with existing tech stack and leverages data connectors to seamlessly integrate data from multiple sources. Offers ‘Lego blocks’ like microservices to solve specific use cases.

  5. If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):

    Total 343 words used.

    Top customer implementations:

    1. A Fortune 500 Bank in the US transformed collections operations & decreased credit losses with Incedo LighthouseTM, thereby achieving an 8% decrease in dollar write-offs for cards and personal loan portfolios and an 11% reduction in channel costs > https://bit.ly/3vCoN69 

    2. A Regional Bank tripled digital sales with AI/ML-enabled personalization. With Incedo LighthouseTM, the bank gained an 18% increase in dollar loans disbursed, along with a 3X Increase in Digital Sales in 6 months. > https://bit.ly/3vCoN69

    3. Achieving a 20% uplift in Conversion Rate for a Leading Life Sciences Organization, along with operational efficiency gains with improvement in prospect prioritization > https://bit.ly/3U4NKRf 

    Revenue figure to date

    Approximately USD 6 Million for the period FY’22 - FY ‘24 YTD.

    Awards & Recognitions

    1. Internal Business Awards 2023 (Stevie): Silver Winner in ‘AI/ML Solution’ category

    2. Brandon Hall Technology Excellence Awards 2023: Bronze Winner in Best Advance in AI for Business Impact category

    3. Fintech Futures Banking Tech Awards 2023: Highly Commended Tech of Future - AI & Data category

    4. Globee Business and Leadership Awards 2022: New Product or Service of the Year - AI category

    5. Listed on AWS Solution Library

    Customer Testimonials

    1. “We were looking for a way to build a more proactive and insightful platform for our BD Development team utilizing an AI/ML-driven tool that helps prioritize opportunities based on client timing and need.

    We worked with Incedo LighthouseTM to build a Prospect Evaluation and Lead Scoring Engine that enhanced our customer and asset outreach efforts. This has led to improved productivity for our BD Team and the team has been knowledgeable, flexible, and easy to work with.”

    - Chief Commercial Officer, Leading Global CRO

    1. “With Incedo LighthouseTM enabled Model Risk Monitoring, we are able to easily monitor & identify opportunities for the originations and behavioral models for credit risk. The user-friendly interface is helping risk managers to understand status for overall model inventory, deep dive into specific models and take preventive actions that leads to minimization of portfolio risk.”

    - VP, Credit Risk Team, Mid-Tier Bank

  6. You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

    Total 84 words used.

    Supporting Materials

Attachments/Videos/Links:
Incedo's LighthouseTM
URL www.incedoinc.com/incedolighthouse/