Reliable predictions are significant for the financial sector. As a service provider at the money and value market, Cash Logistik Security is responsible for elementary process tasks when it comes to matters of transforming cash into book money. Until now, the daily cash turnover of the 2,500 bank branches the company supports had to be checked involving high efforts in personnel. In order to speed up these processes and to reduce costs, the company was looking for a way to predict the turnover of each branch in real-time and detect conspicuous transactions.
Cash Logistik Security AG (CLAG)
Predictive Analytics helps monitor the payment transfer
To achieve this, a variety of Machine Learning models were trained with real turnover data. Eventually an intelligent computational system that predicts the cash turnover of each branch and speeds up the checking processes was made available. Additionally, the security level was raised as compared to what it was like with classic control mechanisms: Cash Flow Prediction by targens even detects anomalies that most trained eyes would overlook.
targens Predictive Analytics:
the big points
- conspicuous transactions are detected automatically
- reliable predictions of turnover and other key figures
- low checking effort for employees
- higher security and lower costs compared to manual control
- considerable added value for many branches
The successful AI concept by targens can be applied to various branches, in which reliable predictions and the checking of transactions are of major importance. For example, in the mechanical industry with the key word Predictive Maintenance: Here identification data for use, abrasion and state of machines are analyzed. In doing so, components which are prone to defects are identified and field failure is prevented before it even happens. Predictive Analysis is a continuous process: With the permanent optimization of computational models predictions become more and more precise.