Riskworx Leverages Turintech’s Evoml Platform To Accelerate Model Development Processes

April 04, 2022

TurinTech, the London-based AI optimisation company, has partnered with South African financial consulting company Riskworx to help elevate the company’s consultancy services through AI.

Riskworx, the South Africa-based financial engineering consulting company, has a special focus on risk management and performance optimisation for financial services clients. The company set out to build and deploy machine learning models for a number of its customers based on fitted datasets after recognising the growing market demand and associated value offered by machine learning-driven consulting.

Despite the huge benefits offered, Riskworx found its existing internal machine learning processes time-consuming, inefficient and laborious within its highly regulated client environment and was seeking an alternative solution. Riskworx, therefore, selected TurinTech’s evoML AI optimisation platform to speed up its model development processes.

Riskworx is leveraging TurinTech’s evoML platform, which empowers businesses to build efficient and scalable AI by automating the whole data science lifecycle, to build customisable models based on individual datasets. These tailored models allow Riskworx to deliver more streamlined processes and assist in answering important business questions. Riskworx can also take advantage of the evoML platform for multiple “ready to go” use cases including prediction of loan defaults, credit risk scoring, and customer churn, among others.

Riskworx has also benefited in the following ways:

  • Efficiency: In one case, evoML accelerated Riskworx’s internal modelling fromthree months to just two days.
  • Customisation: With evoML, Riskworx was able to customise model accuracy and explainability to meet specific business requirements.
  • Regulatory alignment: The enhanced explainability supports the regulatory scrutiny of the highly regulated financial services industry.
  • Accuracy: evoML assists in delivering more accurate and efficient results for Riskworx’s clients.

Pierre Gravellini, Head of Consulting at Riskworx, commented: “At Riskworx we have over 20 years of experience delivering value to clients across the globe, and this AI optimisation technology will help to further elevate our offerings for clients. Speed and accuracy is vital in financial consulting, and our partnership with TurinTech enhances our strategic advantage in the sector.”

Leslie Kanthan, CEO and co-founder at TurinTech, commented: “The finance industry is adopting AI at an unprecedented pace to increase revenue, minimise operating expenses and risk, while improving customer experience. Our partnership helps Riskworx’s customers gain a competitive advantage in the AI era.”

Mark Tannetta, Head of Sales and Partnerships at TurinTech, added: “Machine learning-driven consulting is an expanding market, and our partnership will empower Riskworx to apply the latest AI/ML technology more efficiently. Our platform will support Riskworx in its delivery of best practice and cost-effective solutions to its clients.”