Dataiku and Rabobank collaborate for AI innovation in the banking sector

By Joy Dumasia

Dataiku, the world’s advanced enterprise AI platform, confirms its close partnership with Rabobank. Dataiku’s platform supports Rabobank’s Intelligence Lab in deploying AI projects across the organisation for hundreds of users. More than 100 AI initiatives have been completed in less than two years.

Rabobank started transforming into a data-driven organisation in 2011. During this time, the Bank has been using Dataiku to support its increasingly sophisticated AI projects. The Bank has gone from just a few users. It utilises cases to 150+ Dataiku users and broad adoption of AI across various departments such as marketing, sales, finance, risk management and audit.

The ‘RATE system,’ which gives customers insight into their transactions and ensures financial transparency, is one of the top projects that Rabobank has developed with Dataiku. The model — developed using Dataiku — combines business logic with statistical models and neural networks, all published in an API, so that transactions occur in near real-time.

In addition to technology, Rabobank’s success is also due to its ‘Analytics Way of Working’ methodology, a unique approach to using case prioritisation and an organisation-wide framework to extract more value from AI projects.

Nadim Antar, VP Sales & GM UK-Northern Europe at Dataiku, said: “We have been working with Rabobank for quite some time and have seen its progression from a relatively small centre of excellence to AI use cases that are embedded in virtually all business units and used by hundreds of employees and customers. This is exactly the growth model we had in mind when we developed Dataiku. It’s all about the business – from selecting the right projects to delivering added value. Running data initiatives from within an IT team or even a dedicated data team alone can never bring the depth and value that domain experts provide. The secret is to make the two work closely together.”

Recently, IBS Intelligence reported that Worldline’s subsidiary equensWorldline announced the renewal of its service agreement with Rabobank intending to continue offering its range of payment services to the Bank and continue processing transactions.