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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  • FICO a Finalist in Car Finance Awards for Work with Volvo FICO a Finalist in Car Finance Awards for Work with Volvo
    FICO a Finalist in Car Finance Awards for Work with Volvo
    August 05, 2021
    Customer Development

    Volvo Cars has used the cloud-hosted FICO® Platform to digitize and accelerate the customer onboarding process for its new vehicle subscription service, Care by Volvo. By automating the process, Volvo has cut the credit check process on applicants from three days down to seconds. Now FICO has been named a finalist in Credit Strategy’s Car Finance Awards as Best Te…

    Nikhil Behl by Nikhil Behl
  • NFTs and Money Laundering - Are Fraudsters Becoming Artists? NFTs and Money Laundering - Are Fraudsters Becoming Artists?
    NFTs and Money Laundering - Are Fraudsters Becoming Artists?
    August 04, 2021
    Fraud Protection & Compliance

    In part 1 of this blog series my colleague defined NFTs or Non-Fungible Tokens. Now, I’m going to cover what it means for the wider financial crime space. It is well known that dealing in art can be a vehicle for money laundering and terrorist finance. We saw this in the Panama Papers as well as the FinCEN files. I think NFTs are even better for illi…

    Erik Stretz by Erik Stretz
  • Scoring Conference is a Showcase for FICO Analytic Innovations Scoring Conference is a Showcase for FICO Analytic Innovations
    Scoring Conference is a Showcase for FICO Analytic Innovations
    August 03, 2021
    Decision Management

    The annual Credit Scoring and Credit Control Conference is regarded as Europe’s premier showcase for anyone working at the forefront of credit, AI, machine learning, scoring and all the related areas of data science. This year's four-day programme takes place between August 24 and 27. It's nominally slated as an Edinburgh event. But as with most live public speakin…

    Louise Lunn by Louise Lunn
  • Diversity and Governance: AI Breaks into the Boardroom Diversity and Governance: AI Breaks into the Boardroom
    Diversity and Governance: AI Breaks into the Boardroom
    August 02, 2021
    Decision Management

    Artificial intelligence is today’s hottest technology—and how companies create and use unbiased AI should be a topic near the top of Boards of Directors’ agendas. AI is a Board-level issue because this technology makes decisions that profoundly affect all customers, in ways that can be positive or negative. This blog captures the extended conversation around “Diversit…

    Scott Zoldi by Scott Zoldi
  • Low-Orbit Satellites May Improve Banking for Developing World Low-Orbit Satellites May Improve Banking for Developing World
    Low-Orbit Satellites May Improve Banking for Developing World
    August 02, 2021
    Decision Management

    Will residents of the developing world thank their lucky stars as low Earth orbit (LEO) satellites start to usher in the next era of global digital transformation? Satellite internet service is just one of several off-world infrastructures currently in development. The most high-profile is probably SpaceX’s Starlink, closely followed by a competitive pack comprisin…

    Anat Hoida by Anat Hoida
  • Measuring Financial Resilience: Edinburgh Scoring Conference Measuring Financial Resilience: Edinburgh Scoring Conference
    Measuring Financial Resilience: Edinburgh Scoring Conference
    July 29, 2021
    Decision Management

    The last time I attended the Credit Scoring and Credit Control Conference at the University of Edinburgh in August 2017, my colleague Gerald Fahner and I spoke about two ostensibly different topics. In my presentation, “IFRS 9 – Comply and Compete,” I discussed how lenders could improve decisions across the consumer lifecycle by managing drivers of expected credit los…

    David Binder by David Binder
  • ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps
    ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps
    July 28, 2021
    Fraud Protection & Compliance

    If your institution saw an increase in ACH transactions last year, you’re not alone. NACHA, the payments clearing house through which ACH transactions flow, reported a banner year in 2020, posting an 8.2% increase in volume and a 10.8% increase in dollar value over 2019. Additionally, ACH internet transactions rose 15% from 2019 to 2020. As it happens,…

    TJ Horan by TJ Horan
  • Master Debt Collection Now – Before It’s Too Late Master Debt Collection Now – Before It’s Too Late
    Master Debt Collection Now – Before It’s Too Late
    July 27, 2021
    Debt Collection & Recovery

    I’ve often said that if you need to get really good at collections now, it may already be too late. The time to invest and improve is before you’re facing a debt tsunami. And there are signs that one is coming now. Despite so-called Freedom Day coming and going, financial uncertainty in the UK is set to continue shaping the economic outlook. According to the Fin…

    Bruce Curry by Bruce Curry
  • UK Credit Card Data Shows Cardholder Caution UK Credit Card Data Shows Cardholder Caution
    UK Credit Card Data Shows Cardholder Caution
    July 26, 2021
    Customer Development

    The signs from our UK Credit Market Report for May suggest that consumers are practicing pragmatic financial management, as well as continuing to make use of savings accrued during the pandemic. There are, however, warning signs in our UK credit card data of the financial pressure growing for those already in debt. Whilst the effects of a full month of retail and h…

    Stacey West by Stacey West
  • Women in Credit Awards Recognize Two More FICO Leaders Women in Credit Awards Recognize Two More FICO Leaders
    Women in Credit Awards Recognize Two More FICO Leaders
    July 22, 2021
    Decision Management

      Last year I was proud to announce that three of our leaders in EMEA - Louise Lunn, Nicola Pickering and Anat Hoida - had been named finalists in the Women in Credit Awards, sponsored by Credit Strategy. Today I'm delighted to announce that we have two finalists in this year's Women in Credit Awards! Michelle Beetar, Vice President and Managing…

    Nikhil Behl by Nikhil Behl
  • Lenders Should Consider Using "Pooled Models" When Making Originations Decisions Lenders Should Consider Using "Pooled Models" When Making Originations Decisions
    Lenders Should Consider Using "Pooled Models" When Making Originations Decisions
    July 22, 2021
    Customer Development

    Lenders face a myriad of challenges these days. To build a profitable portfolio while also managing risk, you need solutions that enable you to streamline decision making, reduce losses, lower costs, approve more profitable applicants, and guarantee regulatory compliance. Bureau scores may be the traditional “tried-and-true” method for assessing customer risk, but the…

    Frank Cirillo by Frank Cirillo
  • Who Defaults when Bankcard Accommodations End? Resilience Matters Who Defaults when Bankcard Accommodations End? Resilience Matters
    Who Defaults when Bankcard Accommodations End? Resilience Matters
    July 21, 2021
    Scoring Solutions

    With non-mortgage write-off rates at the lowest YTD level seen since 2012[1], it’s easy to forget that the pandemic has, in fact, stressed many borrowers. In contrast to mortgage forbearances of six to 12 months, bankcard payment accommodations are typically just one to two months, with card lenders less likely to readily grant repeated accommodations.  Is the re…

    Sharon Tilley by Sharon Tilley
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FICO Named Category Leader for Financial Crime - Enterprise Fraud

Join @FICO's @DEK_Canada and @rshevlin with for their upcoming session at @ConsumerBankers #CBALive21 on 8/17 at 2:… https://t.co/FXU4FgqXYA

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The #collection business does have a conscience. Just ask Sibulelo Ncamani of @Absa Bank. Watch what he has to say… https://t.co/3QFtp5uNSo

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