Sallie Mae Becomes Online Business With Help Of Complex Event Processing

The former government entity uses 35 fraud detection patterns to combat fraud and ensure student loans are processed correctly.

by Charles Babcock, InformationWeek

Over the last four years, 90% of Sallie Mae’s loan applications have shifted away from paper based applications to Web-based forms. On peak days, 20,000 applications pour in from its Web site, a pace that’s lead Sallie Mae into online monitoring systems to help it manage its sudden shift into an online business currently managing $153 billion in loans.

Sallie Mae is no longer a government entity. It was taken private by investors earlier this year as SLM Corp. But it’s still popularly known as Sallie Mae and uses Salliemae.com as its Web site. It monitors the daily user experience on the Web site through Tealeaf Technology, a system that captures and reports on the end user activity and when an individual end user has stalled at filling out an application or failed to finish the process.

But the quality of the customer experience, the safeguard that keeps customers coming back, rests more on background complex event processing. Complex event processing can spot business processes that regularly misfire or scammers as they deliberately try to fox the system, often a sign that loan fraud is underway. Read the article.