Cathay United Bank Success Story

Global FICO® Score also allows clients to differentiate its offer to the risk profile of the customer

“FICO has the most widely used world-leading credit bureau scoring models and excellent professional service teams. FICO® Score for International Markets brings immediate benefits to our business by substantially improving efficiency of our credit decisioning process, and managing risk to reduce losses effectively. All these help us maintain our leading position in a competitive market.”

- Lola Chung, Senior Vice President and General Manager of Cathay United Bank's Risk Management Deptartment

Case Study: Cathay United Bank accelerates Retail lending with Global FICO® Score 

Client: Cathay United Bank: The Asian Banker magazine voted Cathay United Bank the Best Retail Bank in Taiwan in 2008 “for its outstanding performance in 2008 amid great market upheaval.” Cathay United Bank is the second largest credit card issuer in the island republic, with a base of over 3.2 million cards. 

Challenge: Cathay United Bank wanted to grow aggressively in the retail space, but it faced two major challenges to growth: processing a large volume of credit decisions efficiently, and effectively managing the increasing risk associated with retail products. 

Solution: The bank turned to Global FICO® Score, a credit bureau risk score that rank-orders consumers according to credit risk. Global FICO® Score is a rapidly deployed risk assessment tool that helps lenders sharpen their evaluation of consumer risk and automate the credit decisioning processes to reduce losses and increase profitability. 

Results: Since adopting Global FICO® Score in 2005, Cathay United Bank has increased efficiency in their credit risk decisioning process substantially and managed risk effectively to reduce losses by US $1.6 million annually.