Paul Swyny

42 percent of consumers in Australia and 40 percent of consumers in New Zealand indicated they would like to apply for their next automotive loan online These were the surprising results of our first global survey on consumers’ automotive finance experience. The study found that there was a growing inclination for vehicle shoppers in the antipodes to apply for auto l…

We recently held a very engaging and well-attended seminar in Manila on customer management and profitability. Of course, the topic doesn’t only strike a chord with our Philippine clients; it’s a growing priority for banks worldwide. Finding new customers is very costly, up to 5 times more expensive than broadening relationships with existing customers. Needless to sa…

While high growth rates are fantastic, it’s very costly to originate new customers when compared with selling to your existing customer base. In fact, it can be more than five times more expensive to originate new customers. That’s one reason why improving customer profitability is so critical for a bank. We'll explore this very topic in our upcoming FICO Seminar…

No matter where they're located, collections managers generally face the same challenges. In recent online polls taken during a series of FICO webinars in North America, the biggest priorities for collections heads were: Nearly two-thirds of respondents were focused on driving innovation in early-stage collections or across the entire lifecycle. More than 50 p…

Many FICO clients are seeing benefits from customer-level decisioning. But some of the impacts are a bit tricky to quantify. One of these is the so-called “halo effect.” It’s intuitive that customers who have a good experience with one type of account are likely to be more receptive to offers to extend the relationship into other types of accounts. “My bank is doing…

My fellow blogger Rita Chakravarti recently noted that customer centricity has become a central theme in her conversations with banking professionals. I’ll add that most financial institutions are tackling this in stages. We’re seeing them move toward full customer-level management capabilities gradually, and reap profit gains at each stage for each product line. Her…

These days, collection managers face many tough questions. How can we do more with the same resources? How can we make sure to work the right delinquent customers? Can we improve the timing of collection actions? How can we improve kept promise rates and offer better customer service? And, how can we make improvements in weeks rather than months or years? Collection…

Even lenders with the best analytics and decision management platforms often struggle to communicate advice and offers to customers. Wouldn't it be great if they could do so via a low-cost channel that their customers actually enjoy using, and thus is likely to yield more and higher-quality responses? Together with Telrock, our partner and experts in mobile…

Emerging markets in Asia are seeing tremendous growth in credit applications at the moment, particularly in countries like the Philippines, Thailand and Indonesia. The Philippines, for instance, has witnessed credit card growth by volume between 10 – 15%, and Asia Pacific is expected to move from the third to second largest of the seven regions by 2016 in terms of car…

As you heard from fellow blogger Dan McConaghy, FICO recently partnered with IDC to host what is probably the biggest gathering of banking CROs in Asia Pacific. A hot topic at the FICO APAC CRO Forum was customer profitability – how to expand existing customer relationships whilst offering superlative customer service and minimising attrition. The big 4 banks in Aust…

Greater regulation in the credit card market has become a fact of life since the Global Financial Crisis, whether it’s the USA CARD Act, the NCCP Act in Australia or Canada’s new credit card regulations. As my colleague Evan blogged about earlier, in January 2011 new regulations came into effect in Australia around “responsible lending.” These put the onus on credit…

My colleague Amit Parekh recently hosted a webinar about decision optimisation, which got me thinking about best practices for financial service organisations. To recap, decision optimisation helps risk managers answer complex questions like: How do I run a profitable line increase campaign whilst reducing losses and exposure? How do I choose the best collections…