E-Payment Leader Klarna on Mitigating Risk through Hortonworks & AI

Hortonworks
31 May 201702:56

TLDRMax Fischer, Vice President at Klarna, Europe's leading e-payment platform, emphasizes the company's commitment to enhancing the buying experience through data-driven decisions. Klarna's reliance on Hortonworks' big data platform enables them to process vast amounts of data, support credit risk assessments, and expand into new markets. The partnership with Hortonworks ensures both technical support and guidance in Apache ecosystem innovations, ultimately aiming to provide consumers with a seamless and enjoyable shopping experience.

Takeaways

  • 🌟 Max Fischer is the Vice President at Klarna, a leading European e-payment platform.
  • 🚀 Klarna's mission is to enhance the buying experience, making it more enjoyable and seamless.
  • 📊 Data is crucial for Klarna's decision-making process, particularly for consumer credit and purchase facilitation.
  • 🔧 Klarna's big data platform, based on Hortonworks, enables real-time data processing and service expansion.
  • 🔍 The platform supports deep data mining, statistical analysis, and AI for credit risk decision-making.
  • 📈 Since 2012, Klarna's business has grown by 60% annually, with data serving as the foundation for this growth.
  • 🌐 Klarna's expansion into new markets and segments has been possible due to the scalable Hadoop data platform.
  • 🤝 Working with Hortonworks provides Klarna with a trusted partner for support and guidance in the Apache ecosystem.
  • 🛠 The partnership with Hortonworks allows Klarna to co-innovate and explore new technologies.
  • 🛍️ Klarna's ultimate goal is to improve the consumer buying experience, offering a frictionless and smooth service.

Q & A

  • What is Max Fischer's position at Klarna?

    -Max Fischer is the Vice President at Klarna, managing the data and finance domain, as well as IT operations.

  • What is Klarna's primary goal?

    -Klarna's primary goal is to make the world a better place for buying, aiming to provide a more fun and smooth purchasing experience.

  • How does data play a role in Klarna's operations?

    -Data is extremely critical for Klarna as it enables the company to make the best decisions for consumers, ensuring they receive credit and can continue their purchases.

  • What is the basis of Klarna's big data platform?

    -Klarna's big data platform is based on Hortonworks, which allows the company to process large amounts of data daily.

  • How has Klarna's business grown since adopting Hadoop as its data platform?

    -Klarna's business has grown by almost 60% a year since adopting Hadoop in 2012, and the company has entered new markets and segments.

  • What are the main advantages of Klarna working with Hortonworks?

    -The main advantages are having a trusted partner for support in case of serious problems and guidance in the Apache ecosystem and future technologies.

  • What is the significance of an MPP architecture for Klarna's growth?

    -An MPP (Massively Parallel Processing) architecture, as provided by Hadoop, has been key to Klarna's ability to grow and scale its operations effectively.

  • How does Klarna ensure a smooth buying experience for consumers?

    -Klarna bases its decisions and services on a lot of data, with the help of Hortonworks, to provide a frictionless and smooth experience for consumers.

  • Who are Klarna's clients?

    -Klarna's clients are web merchants or partners, but ultimately, the focus is on providing the best experience for the end consumers.

  • What was the initial application of HDP and HDF in Klarna?

    -HDP (Hortonworks Data Platform) and HDF (Hadoop Distributed File System) were initially used in credit risk decision-making, where deep data mining, statistical analysis, and AI were required.

  • Why did Klarna choose Hadoop over traditional RDBMS?

    -Klarna chose Hadoop because traditional RDBMS (Relational Database Management Systems) could not answer all the complex questions they needed to address, and Hadoop provided a scalable data platform capable of delivering the necessary answers.

Outlines

00:00

📈 Max Fischer's Role at Klarna

Max Fischer is the Vice President at Klarna, a leading European e-payment platform, where he manages data, finance, and IT operations. Klarna's mission is to enhance the buying experience by leveraging data to make informed decisions and provide credit to consumers. The company relies heavily on its big data platform, which is Hortonworks-based, to process vast amounts of data and expand into new markets, ensuring a smoother buying experience.

Mindmap

Keywords

💡Vice President

A high-ranking executive position within a company, often responsible for a specific division or function. In the context of the video, Max Fischer holds this title at Klarna, where he manages data, finance, and IT operations, indicating his role in overseeing critical business functions.

💡Klarna

Klarna is a leading European e-payment platform that provides payment solutions for online shopping. The company's focus on improving the buying experience for consumers is central to its business model.

💡Data

Data refers to information that is collected, analyzed, and interpreted to make informed decisions. In the video, data is portrayed as a lifeblood for Klarna, enabling the company to make strategic decisions for consumer credit and purchasing experiences.

💡Big Data Platform

A system designed to handle and process large volumes of data, typically used for analytics and decision-making. Klarna's big data platform, based on Hortonworks, allows for real-time data processing and service expansion into new markets.

💡Hortonworks

Hortonworks is a company that provides data management and processing solutions, particularly in the realm of Hadoop and the Apache ecosystem. Klarna partners with Hortonworks to leverage their expertise and ensure the reliability of their data operations.

💡Hadoop

Hadoop is an open-source framework that enables the distributed processing of large data sets across clusters of computers using simple programming models. Klarna uses Hadoop as the foundation of their data platform to handle their big data needs.

💡MPP Architecture

MPP (Massively Parallel Processing) architecture is a design approach that allows multiple processors to work simultaneously on different parts of a large dataset. This architecture is key to handling big data efficiently and is used by Klarna to support their data-driven operations.

💡Credit Risk Decision

The process of evaluating the likelihood that a borrower will not repay a loan or meet contractual obligations. Klarna uses advanced data analytics and AI to make informed credit risk decisions for their consumers.

💡RDBMS

RDBMS (Relational Database Management System) is a type of database that stores and manages data in a structured format, typically used for transactional processing. In the video, it is mentioned that traditional RDBMS could not meet Klarna's data needs, leading to the adoption of a scalable data platform.

💡Co-innovation

Co-innovation refers to the collaborative process of creating new ideas, products, or solutions through the joint efforts of two or more parties. Klarna engages in co-innovation with Hortonworks to explore and develop new technologies within the Apache ecosystem.

💡Frictionless Experience

A seamless and effortless interaction or process that users go through, often in the context of technology or customer service. Klarna aims to provide a frictionless buying experience for consumers, which is a key goal in their service design.

Highlights

Max Fischer is Vice President at Klarna, managing data, finance, and IT operations.

Klarna is a leading European e-payment platform aiming to improve the buying experience.

Data is crucial for Klarna's decision-making and consumer credit services.

Klarna's big data platform is based on Hortonworks, allowing for real-time data processing.

HDP and HDF were initially implemented for credit risk decision-making through deep data mining and AI.

Klarna's business has grown by almost 60% a year since adopting Hadoop in 2012.

Klarna has expanded into new markets and segments, with data serving as the foundation for this growth.

Hortonworks provides a trusted partnership for Klarna, especially critical as a financial institution.

Hortonworks helps Klarna navigate the Apache ecosystem and co-innovate in new technologies.

Klarna's focus is on improving the buying experience for consumers through data-driven decisions.

Klarna's clients include web merchants and partners, with the ultimate goal of a frictionless consumer experience.

Klarna's services are based on extensive data analysis to ensure smooth and efficient operations.

The MPP architecture of Hadoop has been key to Klarna's data-driven growth and market expansion.

Klarna's partnership with Hortonworks ensures reliability and guidance in serious problem-solving.

Klarna's commitment to using data for better consumer experiences is a core company value.

The scalability of the data platform is essential for Klarna's ability to answer complex questions and improve models.

Klarna's use of Hadoop and Hortonworks' platform has been a strategic choice for its data needs.

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