For Industries: 
Utilities & Energy
Overview

Client: Thames Water Utilities Limited, the UK’s largest water and sewerage company

Challenge: Unable to reduce delinquency rates with a “one size fits all” collections approach

Solution: FICO® Debt Manager™ 9 and FICO® Customer Communication Services

Results: Reduced bad debt charge by nearly 14% in the first seven months using the FICO solution

Overview

Money laundering and the financing of international terrorism pose a major threat for banks and insurance companies. While money launderers and terrorists introduce more and more illegal funds into the legal circulation, national and international laws and directives, such as the Third Anti-Money Laundering Directive, USA Patriot Act, Bank Secrecy Act, FATF 40+9 Recommendations, are being developed further to counteract the changing typologies and employed methods.

Overview

African Bank is a South African commercial Bank with just over 4000 employees who operate out of a central office in Midrand, Johannesburg and 395 branches countrywide. African Bank’s vision is to positively impact peoples’ lives by offering innovative value-add products. Its brand purpose is humanity through banking expressed in the new pay-off line ‘We are You‘. The bank employees are proud of their unique culture, which has enabled them to resiliently endure a very difficult period. 

Residual Debt Services Limited (previously African Bank Limited) (“Residual Bank“) was placed under curatorship on 10 August 2014 in terms of the Banks Act, 1990, (“Banks Act“). Thomas Winterboer was appointed as the curator to manage the affairs of Residual Bank, subject to the supervision of the Registrar of Banks.

Overview

Client: Multinational online retailer

Challenge: Onboard more sellers to deliver more products to buyers, thereby increasing revenues. At the same time, make better onboarding decisions that prevent taking on “bad sellers,” thus reducing risk of losses, reputational damage and costs incurred to the company as a result of such activity.

Solution: FICO® Decision Management Suite

Results: In a year-long pilot program, using automation and analytics solution components in the FICO® Analytic Cloud, the retailer achieved all its goals for accelerating onboarding while reducing costs, risk exposure and losses. In addition, the company has been able to boost productivity by redeploying staff from previously largely manual processes. Following the successful pilot, the solution is now being moved from cloud to on-premises and extended to support near real-time decisions.

Overview

Client: Major Canadian grocery retailer

Challenge: Grow recurring revenue by launching a new loyalty program into a saturated market during one of the worst years for grocery sales in decades

Solution: FICO analytics enable the retailer to understand individual customers more deeply and thus to make all offers and contacts extremely relevant. Systematic, ongoing analytic learning pinpoints what each customer cares about and where incentive investments will not only encourage continued loyalty, but produce profitable changes in behavior.

Results: In its first year, the program attracted over 9 million customers (with large numbers of new members signing up every month since then). Loyalty members account for more than 40% of grocery sales. They make more trips, buy bigger baskets and shop more categories than nonmembers — plus the company has substantially increased share of wallet from its best customers.

For Industries: 
Government
Overview

Client: The Central Collection Unit (CCU) for the State of Maryland is responsible for collecting delinquent debt owed to state agencies.

Challenge: The CCU needed to replace a 30-year-old collections platform that was limiting growth, and take advantage of advanced technology to improve the collections experience for consumers by providing multi-channel self-serve options for repayment.

Solution: FICO® Debt Manager™ solution

Results: A configurable system that works in real time and integrates with other technologies to provide automated, convenient payment options for consumers while increasing collections revenue.

For Industries: 
Banking
Overview

Banks and credit unions of all sizes struggle with similar issues when it comes to reliance on outmoded processes. Under pressure to grow in today’s competitive market, many are evaluating systems and processes with an eye toward building in efficiencies and improving the customer experience. The conclusion many have reached is that manual origination workflows at every stage are causing unacceptable delays, creating room for error as well as frustration for customers — translating into increased cost, lost business and more risk.

Manual processes create scenarios that slow growth for banks and credit unions. Six FICO customers overcame these obstacles and are reaping the rewards. 

For Industries: 
Banking
Overview

Growth in the financial services industry has always been driven by the ability to move quickly to capture new opportunities. Institutions that are able to transact, launch new products and adapt to market changes the fastest are able to maintain a competitive edge. Origination systems that can support a high level of agility and scalability are a necessity. Paired with the ability to acquire the right data, these agile systems are the key to quickly building and deploying strategies for long-term growth.

Orgination systems that aren’t agile limit the ability of financial institutions to capture shifting market opportunities. They also create resource drains and complicated integration issues. These five financial institutions have overcome system agility issues to experience new competiveness. 

For Industries: 
Banking
Overview

Financial institutions around the globe are on the verge of a massive digital transformation fueled by the need to become more competitive and profitable. Customer-level origination decisioning is an important part of this transformation. Banks and credit unions alike are realizing that basing business decisions on manual processes and siloed account-level data is limiting their opportunities for growth and creating unnecessary risk, as well as delivering a customer experience that is far from ideal. 

Decisions that don’t factor in a holistic customer view across the entire customer lifecycle create missed opportunities that carry more risk and deliver poor customer experiences. These four FICO customers have conquered the challenges of siloed decisions, and are experiencing the benefits. 

For Industries: 
Banking
Overview

Client: A large regional financial services institution with thousands of branches and ATMs across southeastern states and Washington, DC.

Challenge: Speed origination and booking processes; add real-time automated decisioning; modernize all lines of business, without creating a new generation of siloed internal systems.

Solution: FICO provided a platform capable of extending across all lines of business and customer touchpoints, including customer communication capabilities; consulting and industry best practices from Fair Isaac® Advisors; and a full set of origination management capabilities — including application processing, automated decisioning and intelligent data acquisition.

Results: The bank saw a number of significant improvements, including reduced time to book accounts from three days to 30 seconds; eliminated application declines because of lack of proper documentation; and improved customer experience through better communication, reduced wait time and a streamlined process

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