Risk & Compliance LIFECARD Uses FICO Score to Grant More Credit

Enhancing Credit Assessment for Existing Customers
Dec112018

Enhancing Credit Assessment for Existing Customers LIFECARD, a credit card company with more than 5.7 million accounts, is the first lender in Japan to adopt the FICO® Score to enhance its credit assessment for existing customers. Calculating an appropriate and timely offer for a credit limit increase is made more accurate by reassessing customers with the FICO® Score, which analyzes their  credit bureau data from all their credit accounts. LIFECARD is also using the FICO® Score to realize risk and cost reduction by better evaluating credit risk eligibility. Shinichiro Okuyama, executive officer at LIFECARD, said, “Growth in the Japanese banking market continues to be hard-won. A contracting population, ultra-low interest rates, shrinking margins and constrained demand mean that lenders need to find opportunities for innovation. To grow our share-of-wallet we needed a way to differentiate our approach to lending, and offering proactive credit limit increases and personal loan offers to our... [Read More]

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