Risk & Compliance Accelerating and Automating Small Business Lending

Accelerating and automating small business lending

Loans issued in days rather than weeks while bad debts reduced to 3 percent of loan book Malaysia’s Credit Guarantee Corporation (CGC), a government and commercial enterprise joint venture, has used FICO’s decision management technology to improve its ability to judge the creditworthiness of small businesses so it can provide them with loans. This direct lending is an expansion of CGC’s usual role of providing loan guarantees to businesses, many of which lack the collateral and track record to obtain regular financing. Since its deployment of FICO® Blaze Advisor® decision rules management system and custom analytic models in August 2016, CGC has reduced non-performing loans to just 3 percent of the loan book and has had only one default. For its achievements, CGC has won the 2017 FICO Decisions Award for Decision Management Innovation. The winners of the FICO Decisions Awards were spotlighted at FICO World 2018, the Decisions Conference, April 16-19... [Read More]

Leave a comment

Analytics & Optimization DMS on AWS as a FICO Managed Service

DMS in the Cloud

Over the last year FICO has been actively engaged with Amazon Web Services to broaden its software portfolio deployment options to include the AWS public cloud.  We have seen significant progress as we have rolled out support for FICO® Customer Communication Service (CCS), and FICO® Tonbeller AML solutions on AWS. Both solutions achieved Amazon Web Services (AWS) Financial Services Competency status. FICO DMS Is Now Available as a FICO Managed Service on Amazon Web Services Recently, we achieved a few significant milestones for the FICO Decision Management Suite (DMS or DM Suite). The DM Suite is now available as a FICO managed service on AWS. In addition, it is now compliant with the Well Architected Review (WAR) framework. Lastly, it is now available as a fully Payment Card Industry (PCI) security compliant implementation.  We are very pleased with how smoothly and quickly these milestones were achieved for a solution as... [Read More]

Leave a comment

Risk & Compliance The Current State of the Non-Prime Vehicle Finance Industry

2018 non-prime auto financing survey

For the past 22 years, the National Automotive Finance (NAF) Association has produced a report for the non-prime auto financing market which serves as a key source of benchmarking for those who participate in or support non-prime automotive financing. This year, FICO was pleased to coordinate the survey, market data, and generate the final analysis and report. The study collected survey data from 40 different non-prime financing sources that represent about $35 billion in portfolio value on topics like financial performance, competitive landscape, and investment priorities.  The data from the survey was then complemented with data from TransUnion and IHS Markit to show transactional loan data on how the larger market is performing. FICO looked at things like the number of non-prime loans completed, average FICO Auto Score, average amount financed, delinquency rate, and other performance metrics.  We also incorporated vehicle value data from Black Book and alternative data from FactorTrust... [Read More]

Leave a comment