The Fifth Logic team are very excited to officially announce the launch of Fifth Logic iQ (FLiQ), a ground-breaking event-driven data platform. FLiQ offers organisations a powerful engine with infinite data processing capabilities. Setting it apart from other solutions, FLiQ can ingest and blend both structured and unstructured data including real-time voice data, to build a whole of data view.
“FLiQ provides businesses with unparalleled transparency and access to their data and processing logic via user friendly business rules. Not only that, but it does it very, very quickly. Having this whole of data view is an obvious benefit and one that can drive significant business value by solving a raft of different data-based challenges,” says James Wartho, CEO, Fifth Logic.
The sheer extent of FLiQ’s capabilities means the platform has been touted as a major disruptor to the financial services sector, an accolade we are happy to embrace!
Initial applications of FLiQ have primarily centred on two specific challenges faced by the industry, regulatory reporting, and financial crime detection.
“FLiQ is capable of transforming and automating traditional data processes that currently take multiple people days, weeks or even months and produces more accurate results within minutes. It can streamline reporting processes monumentally,” says James.
The original drive and goal behind the platform’s creation was to address increased reporting challenges. However, along the way the team were excited to discover it had potential to solve many other common issues, such as the early detection of suspicious activity.
“In one pilot we ran with a Super fund we were able to convert live customer conversations into structured data that, when blended with other data sources, could generate fraudulent transaction alerts, and even put a hold on those transactions. This wasn’t a longwinded pilot, we did this in four days,” explains James.
The driving vision behind FLiQ, is to change the finance world for the better. FLiQ is the keystone in disrupting the market and creating opportunities for major and undeniably positive change.
“Honestly, we haven’t even scratched the surface of what is possible with FLiQ. The platform is cloud-agnostic, highly configurable and scalable. What we do know is that FLiQ can reduce business risk whilst simultaneously increasing business opportunities and it can do so quickly and cost-effectively,” concludes James.
The platform is currently being piloted by banks, insurance companies and superannuation organisations, with the iQ Accelerator program (to register pilot projects) now taking further expressions of interest.
Find out how FLiQ can help reduce data related headaches and unlock new opportunities. Register for the iQ Accelerator program today.