Analytics in Banking: Start with the End in Mind

Analytics in Banking: Start with the End in Mind

Banks spend too much time trying to predict things, rather than mapping out how their people, processes, and technology will need to change if they are successful.

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The New White Walkers: Zombie Synthetic Identity Fraud

The New White Walkers: Zombie Synthetic Identity Fraud

Synthetic identity frauds that strategically hid themselves in the bad debt book may be coming back from the dead as zombie synthetic identity fraud.

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11 Credit Trends That Raise Questions for Debt Collectors

11 Credit Trends That Raise Questions for Debt Collectors

However efficient and advanced a debt collection operation is, it’s being stress-tested by a multitude of factors in ways not seen since the last global recession.

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Supply Chain Optimization: BASF Solves a Major Challenge

Supply Chain Optimization: BASF Solves a Major Challenge

BASF’s advanced business analytics team used FICO Xpress Optimization to map all of its supply chains at once to weigh the economic value of an investment.

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new ideas
  • Real-Time Payments & Fraud – What Can be Done? Real-Time Payments & Fraud – What Can be Done?
    Real-Time Payments & Fraud – What Can be Done?
    April 06, 2020
    Fraud Protection & Compliance

    In my last post I wrote about the fraud and financial crime problems the USA is likely to encounter as real-time payments increase in both value and volume. The answers are neither fast nor easy, but there are things that all participants can do. What Banks Can Do In countries such as the UK, real-time payment schemes have been ubiquitous for many years. Banks h…

    Doug Clare by Doug Clare
  • How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive
    How Small Banks Can Respond to the Coronavirus Outbreak and Help Businesses Survive
    April 06, 2020
    Customer Development

    Today we find ourselves in the midst of a pandemic that has impacted almost everyone worldwide. The coronavirus (COVID-19) outbreak has resulted in worldwide school and business closures, government-ordered lockdowns, and a sudden shortage of certain household goods. Things are changing by the minute and there’s not yet enough reliable data to make any official conclu…

    David Smith by David Smith
  • FICO and T-Mobile Share Third Party Risk Management Best Practices FICO and T-Mobile Share Third Party Risk Management Best Practices
    FICO and T-Mobile Share Third Party Risk Management Best Practices
    April 03, 2020
    Fraud Protection & Compliance

    The importance of Third-Party Risk Management is growing, and by association cybersecurity risk assessment. FICO has successfully partnered with US mobile carrier T-Mobile to meet this challenge.  Read the recent Dark Reading piece on this topic.  Doug Clare, Vice President of Fraud, Compliance and Security Solutions, at FICO discusses the challenge in a…

    FICO by FICO
  • Payment Holidays: New Tool for Managing the Surge Payment Holidays: New Tool for Managing the Surge
    Payment Holidays: New Tool for Managing the Surge
    April 01, 2020
    Debt Collection & Recovery

    Around the world, governments and financial services providers are announcing payment holidays that help customers who have a cash crunch due to the pandemic. The latest of these is a scheme approved by the German Bundestag which became effective today. From April 1, 2020, it will be possible to have loan payments held for the next three months, and to only pay back t…

    Ulrich Wiesner by Ulrich Wiesner
  • What is Adaptive Identity Authentication? What is Adaptive Identity Authentication?
    What is Adaptive Identity Authentication?
    March 31, 2020
    Fraud Protection & Compliance

    Adaptive identity authentication is the process of tailoring each customer authentication to the specifics of the request. It involves calibrating multiple sets of risk indicators to determine the type of authentication needed, and how strong to make it. Adaptive identity authentication is increasingly important. Customers want to start and finish their interaction…

    Sarah Rutherford by Sarah Rutherford
  • Debt Collection and COVID-19: What Past Crises Can Teach Us Debt Collection and COVID-19: What Past Crises Can Teach Us
    Debt Collection and COVID-19: What Past Crises Can Teach Us
    March 30, 2020
    Debt Collection & Recovery

    Across many EMEA markets, debt collection has been focussed on driving the right outcome for the customer at the outset, rather than how soon and how quickly can cash be collected.  With the COVID-19 pandemic this approach could not come any sooner for credit customers whose ability to pay is at risk. The past is something we should learn from. I think there a…

    Bruce Curry by Bruce Curry
  • 8 Tips for Avoiding COVID-19 Scams 8 Tips for Avoiding COVID-19 Scams
    8 Tips for Avoiding COVID-19 Scams
    March 30, 2020
    Fraud Protection & Compliance

    In the past weeks, all of our lives have experienced significant disruption. We are balancing caring for the health of loved ones, learning to home-school children, all while continuing to work. Not to mention losing social outlets and drastic economic changes – we really don’t need more life hurdles. So it’s with the top focus of safety and health in mind that I i…

    Liz Lasher by Liz Lasher
  • FICO's UK Women in Credit - Nicola Pickering FICO's UK Women in Credit - Nicola Pickering
    FICO's UK Women in Credit - Nicola Pickering
    March 30, 2020
    Decision Management

    FICO recently announced that three of its employees had been announced as finalists for the Women in Credit Awards being held in London. The event was to be held in March but due to Coronavirus, it has been postponed to October. So, this week our Chief Marketing Officer, Nikhil Behl sat down with our awards finalists Anat, Louise and Nicola to discuss how they…

    Nikhil Behl by Nikhil Behl
  • COVID-19 and Debt Collection: What’s Happening in Europe COVID-19 and Debt Collection: What’s Happening in Europe
    COVID-19 and Debt Collection: What’s Happening in Europe
    March 25, 2020
    Debt Collection & Recovery

    Following the global COVID-19 outbreak, the collections & recoveries (C&R) community across Europe has jumped into action to safeguard customers, employees and wider stakeholders. Which actions have been taken and what are the longer-term ramifications for the sector? Customer Forbearance Unsurprisingly, the Italian financial services sector was the firs…

    Mark Whale by Mark Whale
  • Home Credit China Cuts Risk by 25 Percent on Thin File Loans Home Credit China Cuts Risk by 25 Percent on Thin File Loans
    Home Credit China Cuts Risk by 25 Percent on Thin File Loans
    March 26, 2020
    Scoring Solutions

    Home Credit, a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. The score was used in addition to data from loan applications, Home Credit’s existing internal scorecards, and other external data source…

    FICO by FICO
  • Detecting Prepaid Card Fraud: A Multi-Layered Approach Detecting Prepaid Card Fraud: A Multi-Layered Approach
    Detecting Prepaid Card Fraud: A Multi-Layered Approach
    March 18, 2020
    Fraud Protection & Compliance

    As I recently blogged, the use of prepaid cards is growing, in forms ranging from one-time gift cards to reloadable payment mechanisms for benefit distribution. In that blog I introduced FICO’s patented Multi-Layered Self-Calibrating (MLSC) fraud model, which we have successfully deployed to overcome regional- and usage-specific variations in normal prepaid card spend…

    Scott Zoldi by Scott Zoldi
  • Four Ways Biometrics Will Evolve For Banks Four Ways Biometrics Will Evolve For Banks
    Four Ways Biometrics Will Evolve For Banks
    March 16, 2020
    Fraud Protection & Compliance

    We recently commissioned a survey of 5,000 people across 10 countries to better understand how people view security when they open or use their accounts. This shows that most have become relaxed about using biometrics in order to identify themselves to a range of providers including their banks. They report they are happy to give their bank a biometric such as facial,…

    Sarah Rutherford by Sarah Rutherford
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@FICO is excited to be part of the Third Party #Risk Association 2020 #Virtual Conference. Our session will discuss… https://t.co/wqdDdJHJvB

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Q&A with @FICO Decision Hero Denise Sleem, Customer Support Solutions with #Medscheme, where she discusses industry… https://t.co/6JncRJMJaU

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An #omnichannel, real time #communicationtool is a must-have for #collections and recovery, as it lowers costs and… https://t.co/meV8g1fHpX

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