Overview

It’s estimated that 30 million people in the US alone have one or more debts in collections, and household debt is on the rise. Significant 90-day delinquencies come from credit cards, mortgages (plus associated lines of credit), student loans, healthcare and auto loans. While the collection industry is drawn by the significant activity of these potential revenue streams, we should recognize conflicting trends from declining collection rates, increasing regulation and growing automation.

Overview

The FICO® Decision Management Suite is a complete cloud or on-premises solution that delivers an integrated suite of tools for creating fully customizable analytically powered applications. This document provides a high-level overview of the Decision Management Suite architecture and the elements of a decision management solution. It also provides an architectural overview of the FICO® Decision Management Platform, which provides a standardized set of analytic and execution services that power the Suite.

Using this document as a guide, the reader will understand the context and boundaries to guide architectural decision-making.

For Industries: 
Banking
Overview

Within the banking industry, marketing offers have to navigate a fine line between risk, timing and profitability. The massive proliferation of customer data, complexity of decision criteria, and shifting priorities all place a substantial burden on the decision rules system powering these offers, and any lag in performance can reduce, if not nullify, the benefit of using such a system.
 
Download our white paper now to learn how one mid-sized financial services institution deployed a decision rules system based on FICO Blaze Advisor® DRMS technology, in under two months, to:

  • Proactively identify prospects for financial services and assess eligibility for inclusion in marketing campaigns.
  • For each eligible prospect, select the most relevant product offer and approach through optimal channel of direct marketing.
  • Process large volumes of data efficiently (leveraging Hadoop), extend timely enticements, and improve deal-close and performance metrics.
Overview

Many insurance payers realize how valuable identity resolution and link analysis technology can be in supporting detection of organized crime, as well as opportunistic fraudulent providers. But they also know how difficult it is to implement on proprietary platforms. Now, with FICO® Identity Resolution Engine as a component of FICO® Insurance Fraud Manager, healthcare insurers can immediately access the industry’s most innovative entity data matching technology to reduce losses with a more holistic view into criminal activity and networks.

Overview

When assessing cybersecurity risk, each policy may present a very different profile to insurance underwriters. Unlike mature insurance business lines, the lack of actuarial data is a major issue for insurance underwriters attempting to accurately model cyber risk scenarios. Traditional underwriting practices face critical challenges in assessing cyber risk. Standard “market share approaches,” where the risk exposure of a policy portfolio or a given individual policy is assessed based on what is known about the broader market averages, can be a poor indicator for a specific set of cyber policies and don’t operate well in fast-changing environments such as the cyber world. The presence of external dependencies in an entity’s cyber health — whether contractors, vendors, or service providers — extends an entity’s risk profile, and a general lack of visibility into end-to-end cybersecurity practices and postures makes it hard to accurately determine cyber risks for a given set of policies.

For Industries: 
Insurance
Overview

The FICO® Decision Management Suite provides an easy way for customers to evaluate, customize, deploy and scale state of-the-art analytics and decision management solutions. It allows them to quickly integrate FICO and FICO partner decision management tools and components with their own components, helping organizations of all sizes realize the promise of advanced analytics and decision management via cost-effective, scalable cloud and on-premises solutions. Decision management solutions are software services that expose predictive models, optimization models and decision rules to business processes for the purpose of automating business decisions. This white paper will explore three capabilities in Decision Management Suite and look at an insurance solution based on a real FICO customer.

For Industries: 
Banking
Overview

The second Payment Services Directive, better known as PSD2, is set to change the payments landscape, and Payment Service Providers (PSPs) will have to change with it. Those that implement PSD2 well are likely to retain existing customers and attract new ones.

In this white paper, we focus on the changes that will affect the fraud operations of PSPs, such as retail banks and card issuers. And we take a look at the role machine learning can play in helping them make the most of their adoption of PSD2 standards.

For Industries: 
Banking
Overview

European politicians have not failed to notice that levels of fraud have been increasing despite industry initiatives to stop its growth. The second Payment Services Directive (PSD2) comes into force in January 2018 and places the accountability firmly on Payment Service Providers (PSPs) for unauthorised or fraudulent payments, especially online. PSPs are now obliged to confirm their customer’s identity robustly, both when paying and managing their accounts. But these measures threaten to put barriers in the way of the frictionless journey that customers want. How can PSPs balance ease of use with security?

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.

For Industries: 
Technology, Banking
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.

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