Overview

Banks are beginning to prioritize investments in technology that can take them from account-level decisions to customer-level decisions. This necessitates technology that can connect different lines of business (e.g., credit cards, auto loans, and demand deposit accounts), different phases of the customer life cycle (marketing, origination, customer management, and collections and recovery), and third-party data services. The goal is to enable financial firms to make more intelligent decisions based on a comprehensive view of each customer. In this document, we review key capabilities that firms need to develop and assemble to improve customer-level decisioning, including:

  • Data acquisition from lines of business and from third-party data services
  • Data aggregation, integration, and integrity tools and strategies to build comprehensive customer profiles
  • Analytics to improve marketing, sales, customer service, and risk management by combining predictive analytics, rules management, and optimization tools and techniques
  • Unified customer communication and interaction tools and processes to coordinate outbound customer communications across the many online and offline channels and to facilitate assisted and self-service interactions to enable seamless, multichannel customer journeys
  • Internal and external compliance management tools and processes related to customer onboarding and risk scoring to improve transaction monitoring and know-your-customer processes
  • A decisioning platform that combines all of the previously mentioned capabilities at the enterprise level to help balance resources and risk tolerances between retaining and expanding existing high-quality customer relationships and attracting new customers while protecting them from bad actors
For Industries: 
Banking
Overview

Auto lending is facing a time of transformation. Many lenders struggle to gain a competitive edge—they need to quickly grow their portfolio and improve the customer experience, and at the same time balance risk and control operating expenses. Market disruptors are moving quickly, leveraging technology to provide polished and high-value customer experiences to lure business away from more traditional lenders. Given these market dynamics, the stakes have never been higher for lenders to embrace modernization.

Overview

With the constant threat of data breaches and malware attacks, cybersecurity is a complex challenge for organizations across all industries. Rather than adding more complexity to your environment, FICO® Falcon® Cybersecurity Analytics simplifies and improves your ability to detect and prioritize threats on your network, leveraging the predictive power of streaming analytics and advanced threat detection technology.

Overview

As financial institutions prepare to comply with the Financial Accounting Standards Board (FASB) Current Expected Credit Loss (CECL) model, questions abound. This amendment to US GAAP shifts Allowance for Loan and Lease Loss (ALLL) practices from an incurred loss to an expected loss basis — setting off a cascade of implications not only for portfolio profitability and return on equity (ROE), but for product strategies, pricing, collections practices and how companies retain and nurture valuable customer relationships. Here Lynda Woodward and David Binder, Senior Directors at FICO and experts on compliance, analytics and credit decision strategies, answer the questions we’re hearing the most.

Overview

No matter where your institution is along the path to meeting the Impairment of Financial Assets requirements of the Financial Accounting Standards Board’s (FASB) Current Expected Credit Loss (CECL) model, you face challenges. Apart from mastering the complexities of modeling forward - looking lifetime loss estimates from new account origination, you need the means to perform these demanding calculations—involving more data and models—and a means to assess scenario impact to forecast your outcomes. You need to facilitate dialog between Risk and Finance. And while implementing your solution, you must start transitioning your origination targeting and credit lifecycle strategies to deliver the results you want under the new conditions.

Overview

Consumers shopping for and financing a new or used vehicle have more choices than ever before. Empowered by digital delivery channels such as self-service and mobile, individuals are now able to rapidly find the vehicle and loan that best fits their needs. In this environment, a growing number of new market entrants are jostling with traditional lenders to acquire market and mind share. The winners will be those organizations that are able to consistently deliver a fast, painless and compelling buying experience.

For Industries: 
Telecommunications
Overview

Cyberattacks and data breaches are daily news. We wanted to understand how the C-suite are managing the risk, what trends they are seeing and what they plan to do next. To find out, we commissioned research and consulting firm Ovum to carry out independent research to show how cybercrime is affecting the telecommunications industry.

Overview

The traditional workbench, with its sturdy platform and array of tools within arm’s reach, allows a craftsman to build just about anything. FICO® Analytics Workbench™ is the software counterpart for data science professionals. It provides an integrated set of state-of-the-art analytics capabilities to build better decisions. From this work space, you can apply a wide range of analytic techniques and algorithms, both from leading open source projects and from FICO’s own IP portfolio. You can write and run code in a variety of languages and you can ingest big or small data and then explore, manipulate and visualize that data, directly from the workbench. Because the workbench runs on Apache Spark, it can easily scale to any size data. And because it leverages the FICO® Decision Management Platform, deploying new models and strategies into production is fast and easy.

For Industries: 
Banking
Overview

Embed the power of advanced analytics into your deposit fee strategies

Today, most banks charge nominal fees for various deposit-related services, such as overdraft charges, ATM fees, minimum balance fees, service charges, etc. When customers request refunds for fees charged, each outcome materially impacts the bottom line – not to mention the bank’s reputation, depending on how these requests are handled.

To be successful in balancing business needs with customer satisfaction, banks need to rise above subjective decision-making and implement targeted analytics. FICO® Deposit Fee Refund Solution empowers business managers to develop analytically derived models and decision rules to implement fee refund strategies at the customer level. The strategies are seamlessly and immediately deployed to the front line to provide intelligent and actionable refund decisions for each customer. Consistent, transparent and strategic actions, applied across all channels, helps boost customer service while driving governance and helping boost fee income (generally between $5 and $10 per account).

For Industries: 
Retail
Overview

Cyberattacks and data breaches are daily news. We wanted to understand how the C-suite are managing the risk, what trends they are seeing and what they plan to do next. To find out, we commissioned research and consulting firm Ovum to carry out independent research to show how cybercrime is affecting the retail and e-commerce industry.

Contact us at: +44 (0) 207 9400289 

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