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FICO® Origination Manager

Overview

Today, the battle for good customers is more complex than ever. Whether launching a new credit product, or trying to rapidly adapt existing processes to new market segments or regulations – organizations are challenged by long IT queues, and inflexible software. FICO® Origination Manager brings advanced analytics, application processing and decision flexibility to businesses, so they can make more precise, profitable decisions when starting a new credit relationship.

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Core Benefits

Improve operational efficiency and effectiveness

Reduce losses and drive compliance

Improve customer satisfaction with mobile

Improve operational efficiency and effectiveness

  • Decrease time to decision by 50%, and reduce manual reviews by 25%-50% through an agile platform built for change.
  • Achieve improved credit analyst productivity, plus increased approval rates, up-selling and cross-selling.
  • Implement new credit programs faster—in days, versus quarters.
  • Reduce infrastructure investment and maintenance costs, employing one solution for multiple lines of business.

Reduce losses and drive compliance

  • See a 15%-25% reduction in delinquencies and bad debt
  • Reduced application fraud exposure
  • Improved consistency of policy and procedure.

Improve customer satisfaction with mobile

  • Automate status updates via a customer's preferred channel (e-mail, phone, text) to help win good applicants, and build a bridge for future interactions.
  • Speed additional information requests (income verification)  via two-way mobile communications.
  • Reduce processing times

Solution Architecture

FICO® Origination Manager

FICO Origination Manager supports connected decisions across the entire lending lifecycle for a more holistic view of the customer relationship that can then be factored into origination decisions. Origination Manager is composed of four core modules that can operate together or independently to best fit your origination needs.

  • The Application Processing Module includes preconfigured workflow processing steps, queues and data capture that reduce the implementation cycle time.
  • The Decision Module, leveraging FICO® Blaze Advisor® decision rules management system, includes an intuitive user interface that enables business users to author rules and deploy business strategies quickly, without the need for IT coding.
  • The Data Acquisition Module provides access to external data sources such as consumer or small business credit reporting agencies and alternative data providers. It also includes credit report characteristics, which are the key components of FICO® Scores.
  • The Analytic Module access to a FICO-hosted service that scores each applicant using the latest versions of FICO® Pooled Models. 

Small Business Scoring Service Version 7.0: The latest version offers new capabilities that provide credit grantors with more choice and risk measures for identifying additional profit opportunities. Capabilities include support for higher loan amounts, a bankruptcy score and additional models.

Coming Soon in 2018 Application Risk Models Version 4.0: The newest release of Application Risk Models takes consumer lenders to an entirely new level. Lenders can now both reduce risk exposure and expand the range of transactions they can assess. 

FICO® Origination Manager

Customers

It's not just who we work with, it's how well we work together.

Key Features

  • Business users can easily modify minimum credit scores, add new products or product terms
  • Pre-build reporting and easy customization to see results end-to-end
  • Champion/Challenger testing and strategy simulations
  • Simple connections to other external or internal data sources
  • Pre-build interfaces to major credit reporting agencies
  • Role based access controls to limit who can see and modify data

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Unified Credit Infrastructure

TD Canada

Challenges:
Lack of an integrated customer view, over six different origination systems, full overhaul of credit infrastructure.

Solution:
A unified credit infrastructure utilizing FICO Origination and Customer Management solutions

Results:
TD Canada is making more competitive offers faster with consistent customer treatment across the credit lifecycle. They increased new unsecured credit volume by 60% in less than a year after implementing a "quick application flow" with FICO technology.