Heka Global

📊 From Data to Dollars: 3 AI Strategies for Collection Agencies 🔮 🔍With most of 2024 in the rearview mirror, I revisited all the lessons learned on using new-gen models in receivables management. Here are my biggest takeaways. 1️⃣ Look Beyond Your Data Go beyond your internal data. Without external information, you're building a future based on the past. If you've never texted consumers, your model will say texting doesn't work—because it hasn't happened. Bring external data to explore new strategies. 2️⃣ Explainability Matters AI insights should pass the common-sense test. A random correlation—like a letter in a name tied to liquidation—might look like a pattern but often isn't. Flag odd results. The best decisions are driven by logic, not coincidences. 3️⃣ Account for External Forces Unemployment rates, savings rates, and interest rates all influence consumer behavior. Ignoring macroeconomic factors is like sailing without checking the weather. Incorporate big-picture elements to make your scoring model truly predictive. One of this year's highlights was Mike Gibb's Webinar on AI scoring in the ARM industry—shoutout to Lucas Brown and John Kelan for the sharp insights. If you're a receivable manager seeking smarter, data-driven decisions, let's talk. Try Heka Global's CORY, AI-powered scoring solution designed to drive results. #AI #Finance #ARM #Fintech #DataDriven #HekaGlobal

After last night's #MansionHouseSpeech, any non-megafund content may seem oblivious. In a stab at relevance, here's how the principles animating the Chancellor's proposals extend to the pension data ecosystem... The rosiest version of the Chancellor's thesis is that - whatever the virtues of localised and historically-grounded traditional schemes - siloing pension scheme capital has inhibited bold long-term investing, and pooling capital will enable new (better) risk-taking, driving UK economic growth. Most traditional schemes, for all their (considerable) virtues, were not primed for the arrival of Big Data and digitisation. Optimising for the performance of fiduciary duties does not mean optimising for organisational transformation. Of the 10,000 or so schemes in the UK, few had the expertise or infrastructure to keep pace with evolving data standards. Disharmonization blossomed. UK pension schemes fell behind the curve. Is consolidation the solution? Regarding capital - sure, a £30 billion megafund and a £5 billion 'minifund' can invest differently. But, implementation will be painful (and contested), and much of LGPS's excellent stakeholder-engagement will be eroded. Most of all, megafunds won't by default serve the Chancellor's pro-growth agenda, not without Government interference in the interpretation of trustees' fiduciary duties (controversial), or startling tax incentives (controversial). Regarding data - aggregating means spring cleaning, hence the years-long data cleansing exercises we see on risk transfers and master trust consolidations (and, increasingly, with a view to dashboard-readiness). Larger datasets can sustain more complex modeling, and their noisiness progressively translates into insights. But pensioners risk getting reduced to mere data assets, a shift against which the 'old-fashioned' conception of a pension scheme currently guards. Not superficially, both of these questions are stress-testing the traditional, heroically modest conception of a pension scheme. It is hard (but exciting) to imagine the re-invention in store.

It was great to be back in Professional Pensions. Vulnerable pension scheme members are amongst those worst affected by the missing pension pots crisis. Vulnerability is a leading indicator of less structured financial planning, not least staying on top of one's pension. Traditional attempts to trace missing members focus on leveraging residential address data, which creates blindspots for vulnerable members in less stable circumstances. It is a doubly important insight for trustees: the aggregate impact on scheme finances is immense, and there's mounting regulatory focus on the topic of vulnerability. Heka Global's AI-enabled tracing finds members on their own terms. Rather than assuming that everyone signs up to the electoral roll, we scan the entire open source internet, to find members all around the world, irrespective of their circumstances. In the UK, we've seen repeatedly that this approach allows us to find 30%+ more missing members than traditional tracing, and can serve as a cornerstone in serving vulnerable members. Thanks Jonathan Stapleton https://lnkd.in/evajfugR

💫 Demo Day at Rise, created by Barclays! 🎤 🚀 Today is a milestone in Heka Global's journey with Barclays. We had a full-house with 100+ VCs, bankers, and fellow founders presenting their companies. I'm honored to be a part of this remarkable cohort of startups. ⭐ Heka provides financial institutions with data intelligence. Heka's platform integrates open-source data into consumer-facing financial services. We work with banks, pension funds, insurance firms, and collection bodies, providing info from 3,000+ data sources and covering 50+ geographies. 🌍 Special shout-out to my fellow Rise, created by Barclays founders! 🌟Frances Zelazny from Anonybit, the world's first fully decentralized biometrics 🌟 Daniel Naim from Fennel, an investing app that gives you the power to create change through your investments 🌟 Stephen Quick CFA from FinCrime Dynamics, which helps financial institutions fight financial crime using synthetic data and AI with our product 🌟 James Hill from Flexys, software that improves and automates debt management and collection 🌟Rohan Doctor from Louisa AI, a relationship intelligence platform 🌟John Taylor Garner from Odynn, embedded fintech & loyalty, next-gen program manager 🌟Mason Lin from Pockyt, an alternative payments infrastructure that accelerates cross-border commerce 🌟Andrew Alex from Spendbase, a subscription management platform 🌟Maarten Rooney from Singlify, an end-to-end data management system for social investors 🌟Silash Ruparell from Sevva AI, a generative AI agent platform 🌟Firuze Duygu Caliskan, MSc from Mall IQ, Inc., a location intelligence & AI platform for mobile apps 🌟Sudhir Sahu from Data Safeguard Inc., an AI solution to comply with data privacy regulations and prevent synthetic fraud losses. 🌟Katherine Chan from Juice, non-dilutive finance products adapted to serve as alternative growth capital 🎙Last but not least, we had the best MC in the house - Mr. Kester Keating. And the best program and community team one can ask for, dear Carina Oriel and Michelle Cheng. Thank you 🙏 Roopa Gosain, George Athanasiou, Bethany McKelvey, Elizabeth Gula, Brandon Peters, Jeffy Joseph, Herman Goihman, Izge Cengiz Ercan. #FinTech #Finance #AI #Banking #OSINT

Discharging our duty of care to vulnerable members. Nearly four years ago, the UK Regulatory Network (UKRN), which represents both The Pensions Regulator and the Financial Conduct Authority (FCA), carried out research into how pension providers and others could effectively work together to support vulnerable customers. Check out Max L.'s latest article 👇 https://incm.pub/3YdIqgb #pensions #pensionscheme #employeepension #finance #retirement