8 Success Tips for Debt Collection in the Pandemic

8 Success Tips for Debt Collection in the Pandemic

From identifying vulnerable customers to storing the right data, here are best practices for debt collection in the current pandemic

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Six Steps to Using Biometrics to Open & Manage Accounts Digitally

Six Steps to Using Biometrics to Open & Manage Accounts Digitally

Sarah Rutherford explores which steps need to be in place in order manage identity using biometrics

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Average U.S. FICO Score at 711, But Uncertainty Abounds

Average U.S. FICO Score at 711, But Uncertainty Abounds

It generally takes some time for the effects of a major macroeconomic event to start to show up in consumers’ credit reports.

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  • Does the EU Framework for Responsible AI Go Far Enough? Does the EU Framework for Responsible AI Go Far Enough?
    Does the EU Framework for Responsible AI Go Far Enough?
    May 13, 2021
    Decision Management

    Last month, the European Commission issued a new legal framework for AI, designed to make the European Union a centre of excellence for trustworthy AI. The new rules divide AI systems into different categories of risk (based on the impact of an error in the AI system) and impose restrictions and requirements based on that risk. The majority of AI systems (including…

    Peter Ould by Peter Ould
  • How to Address Portfolio Risk Volatility Through Economic Uncertainty How to Address Portfolio Risk Volatility Through Economic Uncertainty
    How to Address Portfolio Risk Volatility Through Economic Uncertainty
    May 12, 2021
    Scoring Solutions

    Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. Unable to pinpoint the sources of rapidly growing credit losses, lenders broadly and dramatically restricted acces…

    David Binder by David Binder
  • UK Credit Market Report March 2021: Early Warning Signs UK Credit Market Report March 2021: Early Warning Signs
    UK Credit Market Report March 2021: Early Warning Signs
    May 12, 2021
    Customer Development

    Our analysis of UK card trends for March 2021 shows a big change in spending and financial management in the last 12 months. The average spend per card is lower but the average amount spent over a card’s limit is 25 percent higher. The latest data suggests that the downward trend for those facing debt issues continues to be masked by those whose financial status has i…

    Stacey West by Stacey West
  • Switzerland’s Largest Car Leasing Company Accelerates Business Switzerland’s Largest Car Leasing Company Accelerates Business
    Switzerland’s Largest Car Leasing Company Accelerates Business
    May 12, 2021
    Decision Management

    Automating Automotive Leases AMAG Leasing AG, the largest B2B and B2C captive car leasing company in Switzerland, has used the FICO® Platform to improve its credit-granting process. With more than 150,000 leasing contracts under management, AMAG Leasing AG has been able to automate large parts of the decision-making procedure involved in striking new leases so that…

    Nikhil Behl by Nikhil Behl
  • Grupo Monge Grows Business, Improves Financial Inclusion Grupo Monge Grows Business, Improves Financial Inclusion
    Grupo Monge Grows Business, Improves Financial Inclusion
    May 11, 2021
    Decision Management

    Loans That Improve Lives Grupo Monge, one of the largest multinational retail companies in Central America, has used analytic decisioning to improve the way it evaluates and grants credit to its customers, especially those previously excluded from being able to access loans. By implementing FICO® Blaze Advisor® decision rules management system, Grupo Monge has expa…

    Nikhil Behl by Nikhil Behl
  • 360 Degrees Isn’t Enough to Chart Your Digital Transformation Journey 360 Degrees Isn’t Enough to Chart Your Digital Transformation Journey
    360 Degrees Isn’t Enough to Chart Your Digital Transformation Journey
    May 10, 2021
    Decision Management

    In selling situations, software vendors love to promise prospects “a full 360-degree view” of all their customer data.  It’s a popular, throwaway marketing line; almost a cliché, leaving the impression that their product gives you a view of the customers from every possible vantage point: just like a compass. What vendors often don’t tell you is that their “pl…

    Bill Waid by Bill Waid
  • Has the Pandemic Accelerated Digital Account Opening? Has the Pandemic Accelerated Digital Account Opening?
    Has the Pandemic Accelerated Digital Account Opening?
    May 10, 2021
    Customer Development

    The pandemic has prompted banks around the globe to move quickly to meet evolving customer expectations. Unsurprisingly, it includes offering a stronger online presence and, in some cases, rapidly launching new digital banking capabilities. We wanted to understand precisely what consumers’ preferences were when it came to digital banking, and find out if banks’ c…

    Sarah Rutherford by Sarah Rutherford
  • Defining Big Data Characteristics – A Data Scientist’s Life Hack Defining Big Data Characteristics – A Data Scientist’s Life Hack
    Defining Big Data Characteristics – A Data Scientist’s Life Hack
    May 06, 2021
    Decision Management

    In my previous post I talked about external data and data ingestion capabilities a financial platform must have. Now I’d like to describe the capability of developing big data characteristics, how important this capability is for a financial platform and how banks can use this capability to boost the value received from the data they can access. Most data scientist…

    Zeynep Salman by Zeynep Salman
  • Filling the US$3.4 Trillion SME Funding Gap Filling the US$3.4 Trillion SME Funding Gap
    Filling the US$3.4 Trillion SME Funding Gap
    May 05, 2021
    Customer Development

    Even before the impact of the pandemic started to bite, banks were being asked to help bridge an estimated US$3.4 trillion SME funding gap in unmet trade finance, with demand for funding of small businesses rapidly becoming an acute challenge. It’s a mind-boggling number largely driven by demand for unfilled or rejected trade finance applications tabled by small bu…

    Nick Myatt by Nick Myatt
  • Digio, Conductor and FICO Partner to Curb Fraud in Latin America Digio, Conductor and FICO Partner to Curb Fraud in Latin America
    Digio, Conductor and FICO Partner to Curb Fraud in Latin America
    May 04, 2021
    Fraud Protection & Compliance

    Latin America is a huge opportunity market for financial services with approximately 70% of the region either unbanked or underbanked. This opportunity is being exploited by a growing number of fintech and banking technology innovators such as Digio, an organisation with the strength of a bank but the agility of a fintech. Unfortunately, this digital growth is a…

    TJ Horan by TJ Horan
  • Coping with COVID: Digital Transformation is More Important Now Than Ever Coping with COVID: Digital Transformation is More Important Now Than Ever
    Coping with COVID: Digital Transformation is More Important Now Than Ever
    May 03, 2021
    Decision Management

    Towards the end of 2020, Arizent Research and American Banker released a special report on digital disruption and digital transformation in the financial services industry, entitled “Clear and Present Danger: The Threat of Digital Disruption in Financial Services and What Banks Can Do to Vanquish It.”   The report was based on customer interviews, observati…

    Bill Waid by Bill Waid
  • COVID Vaccine Fraud: Be Wary of the Scammers COVID Vaccine Fraud: Be Wary of the Scammers
    COVID Vaccine Fraud: Be Wary of the Scammers
    April 30, 2021
    Fraud Protection & Compliance

    Around the world, COVID vaccination campaigns are ramping up, as leaders pledge to protect their citizens from the deadliest pandemic in a century. But despite Herculean logistics efforts worldwide, in some countries (and localities within the US), the vaccine is still hard to come by. People everywhere are anxious to get the COVID jab, and fearful of contracting t…

    Liz Lasher by Liz Lasher
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RT @FICOcloud: #Augmentedanalytics enabled by self-service toolkits is turbo charging #AI adoption, but how do you choose the right toolkit…

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Join guest speaker @SenatorMenendez from #NewJersey and FICO® Score experts for FICO's Score A Better Future credit… https://t.co/NzpJLUe43j

5 hours ago

"Whilst the #EU have rightly focused on the use of #AI and data science strategic leadership, more needs to be done… https://t.co/89ugK7NNGv

7 hours ago