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STOCKHOLM – 5 June 2018

Despite the major changes the Payments Services Directive 2 could make to EU payments, few Swedes know about the new EU directive, now being introduced. A new survey from analytics software firm FICO, executed by SIFO, also shows that few Swedes are prepared to share their banking information with a third party, and there is a mixed view on whether PSD2 will lead to an increase or decrease in fraud.

Under PSD2, consumers can give third parties permission to access their bank information, such as their deposits. This means that third parties can perform payments directly from the user’s bank accounts. Consumers will also have multiple payment options when conducting a transaction.

Only 36 percent of all respondents knew about the directive. The lowest awareness is among the young, from ages 16-24, where only 29 percent know about it.

”PSD2 will greatly change how we make payments in the future and usher in a lot of new payment services,” said Dylan Jones, who oversees operations in the Nordics at FICO. “Our survey shows though that few consumers know about the directive, which suggests that it will take some time before customers are ready to give third parties the necessary access in order to be able to take advantage of the new services that will launch.”

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Machine learning FICO analytics can be used by lenders to match offers to risk and ability to pay

Money20/20 Europe, Amsterdam — 6 June, 2018

Highlights:

  • FICO and Equifax have launched the FICO® Risk and Affordability Decision Suite, powered by Equifax®, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to afford new credit
  • The FICO Risk and Affordability Decision Suite is designed for lenders needing to make credit decisions that avoid overstressing consumers, while treating consumers fairly
  • The suite works with the FICO® TRIAD® Customer Manager solution used to manage most UK card accounts

As the UK’s Financial Conduct Authority pursues measures to stop consumers becoming trapped by persistent debt, two industry leaders in credit risk management have joined forces to help lenders make better lending decisions. At the Money20/20 Europe conference in Amsterdam today, analytic software firm FICO and global information solutions leader Equifax have launched the FICO® Risk and Affordability Decision Suite, powered by Equifax®, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to handle both existing and new credit.

More information: http://www.fico.com/en/products/fico-risk-and-affordability-decision-suite-equifax

 

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Romanian banking leader will use FICO Origination Manager across all retail banking products

LONDON — May 30, 2018

Highlights:

  • Raiffeisen Bank of Romania will use FICO® Origination Manager to process all new retail banking accounts across all digital and branch channels.
  • Raiffeisen Bank is part of Raiffeisen Bank International, one of the largest banking groups in Central and Eastern Europe.
  • FICO solutions provide end-to-end customer lifecycle decision management, driven by advanced analytics based on a single view of the customer.

Raiffeisen Bank will use new customer onboarding technology from analytic software firm FICO to increase its digital lending capabilities in Romania. FICO announced today that Raiffeisen — part of Raiffeisen Bank International, one of the largest banking groups in Central and Eastern Europe — has purchased FICO® Origination Manager to further automate processing new accounts, through all channels, across all retail banking products.

More information: http://www.fico.com/en/products/fico-origination-manager

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