Overview

Like many aspects of our lives, technology is providing consumers with more options when it comes to making financial transactions. From relatively new interactions, such as mobile commerce and peerto- peer payment apps, to near real-time payment windows, the changes are rapid and expansive. Consumers want immediate payment processing whenever and however they choose to transact. They want a banking relationship that’s 100% convenient and 100% secure, and modern financial institutions are doing their best to accommodate these market demands. But there are gaps.

Overview

Every year, Vantiv processes more than 17 billion payment transactions for nearly a half-million retail merchants in the United States. Vantiv needed a way to speed up its largely manual merchant onboarding process, which could take up to nine days. They chose a solution powered by FICO® Decision Management Suite to cut merchant onboarding from days to minutes, which helps facilitate the company’s rapid growth and opens up new possibilities for partnerships with independent sales organizations and merchant banks.

Overview

Streamline your merchant onboarding process and strengthen risk management with a single, extensible platform

FICO® Merchant Onboarding Solution streamlines traditionally cumbersome business processes and sharpens compliance, fraud and credit risk evaluations with cutting- edge analytics and decisioning capabilities. Acquirers are empowered to design workflows—seamlessly weaving together automated and manual processes—to reduce onboarding times from days to minutes. Intelligent, easy-to-use dashboards and KPIs provide business and regulatory insights that facilitate exploring what-if scenarios and impact testing.

Overview

FICO® Centralized Decision Service provides a clear, explainable view of your decision strategies across your enterprise and processors to enable consistent and profitable customer treatments. It applies risk analytics, strategy improvement, automation and other streamlined capabilities to help you make better, faster decisions. Intelligent, easy to use dashboards and KPIs provide business and regulatory insights that facilitate exploring what-if scenarios and impact testing.

FICO Centralized Decision Service reduces the friction on your IT department by empowering business users to update decision rules and other system parameters in real time. Its cloud-based, open platform allows you to rapidly incorporate business or technology changes when you need them, so your decision systems are always aligned. Ultimately, it arms your experts with the tools they need to apply real-time insights to specific business challenges, so you can always stay ahead of the competition.

Overview

Client: Home Credit Group, an international consumer finance provider with operations in 11 countries

Challenge: Develop a more agile approach to decision-making to enable radical but sustainable growth.

Solution: FICO® Decision Management Suite

Results: In addition to improved operational performance, reduced costs and increased profits, Home Credit Group has created a centralized decision engine that accelerates its ability to branch out into high growth markets quickly in order to massively diversify its scope of business.

Overview

Client: African Bank

Challenge: Overhaul its decision system across the credit lifecycle to add transparency and collaboration, as well as operational efficiency and profitability.

Solution: FICO® Blaze Advisor® decision rules management system, Decision Implementation Accelerator

Results: After a rapid strategy and implementation cycle, African Bank was able to transform its decision system to launch strategies 30% faster and at 25% lower cost. The new system can be applied across the entire credit lifecycle and the team can now make changes in two days instead of two months, with full confidence in its security features.

Overview

Every year, Vantiv processes more than 17 billion payment transactions for nearly a half-million retail merchants in the United States. Because there is a contingent risk involved in taking on a new merchant, Vantiv sought to ensure that it minimizes that risk and makes appropriate pricing offers. Specifically, they needed a way to speed up its merchant onboarding process, which was being done manually and could take up to nine days. They chose FICO Merchant Acquiring Solutions, powered by FICO® Decision Management Suite. As a result, Vantiv has cut merchant onboarding from days to minutes, which helps facilitate the company’s rapid growth and opens up new possibilities for partnerships with independent sales organizations and merchant banks.

Overview

Cybersecurity strategies often consist of “whack-a-mole” exercises focused on the perpetual detection and mitigation of vulnerabilities. As a result, organizations must re-think the ever-escalating costs associated with vulnerability management. After all, the daily flow of cybersecurity incidents and publicized data breaches, across all industries, calls into question the feasibility of achieving and maintaining a fully effective defense. The time is right to review the risk management and risk quantification methods applied in other disciplines to determine their applicability to cybersecurity. These proactive and systematic approaches may provide better quantification of the effectiveness of cybersecurity management practices.

The banking industry, as an example, bears similar risks in its management of credit card risk and has a long history of successfully applying predictive analytics and statistical methods to effectively identify, quantify and predict these risks. Forewarned is, after all, forearmed. If these predictive analytics could be used to harness the risk of data breaches, the damages (both financial and reputational) could be reduced or avoided by a data-driven organization. Similar large-scale data analysis and modeling techniques are commonly used to underwrite property and casualty insurance or assess credit or interest rate risk. In this paper we will explore the potential of forecasting cybersecurity risk with a detailed explanation of the underlying technologies and analytics.

Overview

Over the past 40 years, business thought leaders in the industrialized world have had a love-hate relationship with artificial intelligence technologies. A succession of brief vogues, in which technology vendors sought to apply AI to a range of pragmatic business challenges, have been punctuated by periods of disillusionment.

More recently, however, AI and machine learning have emerged as powerful, practical and well-accepted tools for a wide range of business applications. The techniques have become vastly more capable. Equally important has been the explosion of capacity in information infrastructures, especially the development of databases and processing to manage “Big Data” during the first decade of the 21st century.

Overview

The traditional process of banking or getting a loan used to involve walking into the neighborhood financial institution, sitting down with a customer service representative, filling out forms and discussing needs. Then, maybe a few days later, the customer could walk out with a check. The process is drastically different today, as the financial services industry has undergone a sea of changes. Today, if a person lives in New Jersey, it is perfectly normal to hold a bank account in, say, their home town of Austin, Texas. There is little reason to have a local bank account as several banking tasks can be done remotely. A customer can deposit a check via mobile banking, withdraw cash at an ATM or apply online for a loan.