FICO WORLD 2018, MIAMI, FloridaFICO today unveiled a host of new retail banking solutions that allow lenders to manage the credit lifecycle in a way that is smarter, faster and simpler. The innovations are designed to help support lenders with their digital transformations as retail banking continues to be shaped by the forces of mobile, cloud, analytics and big data.
“We have seen remarkable changes in banking in the last two years as lenders accelerate their digital transformation and reinvent the customer experience,” said Tim VanTassel, vice president of FICO's credit lifecycle business line. “Lenders are engaged in an analytic arms race to find, delight and retain the right customers by determining and deploying differentiated offers and experiences.”
Originate Loans Using Optimized Deal StructuresProviding consumers with multiple options for the best-fitting terms in real time has been an industry goal for some time, and with its latest innovation FICO has made it a reality. FICO® Origination Manager now interacts seamlessly with Alternative Deal Structure (ADS) to evaluate thousands of alternative offers and present a set of differentiated options in seconds.
Manage Customers with Greater AgilityFICO® Strategy Director, which delivers faster, easier decision authoring and management with plug-and-play industry configurations, builds on the proven decision process flow of FICO® TRIAD® Customer Manager and now offers the same business value with configuration for the Telecommunications industry. The Telco Service Management solution uses analytically driven decisions to help make relevant and profitable offers, reduce churn and improve device financing decisions. At the same time, new configurations for lenders bring the capabilities of TRIAD Customer Manager to Strategy Director and provide a simple migration to speed cloud adoption and time to value.
Make Better Decisions Collecting PaymentsFICO® Debt Manager FitAgent can now sift through massive real-time datasets from internal or external sources, such as dialers and other communication systems, using FICO® Decision Management Platform Streaming to rapidly generate powerful insights that assist with the collection and recovery process.
FICO has further improved the FitAgent user experience with new controls, views and insights around payments, customers, accounts and communication that put the customer at the center of a lender’s operations. To reduce the cost of deploying industry-leading analytics, Debt Manager also easily consumes optimization analytics from FICO’s suite of decision optimization capabilities.
Improve Customer Communications with AI and the CloudFICO® Customer Communication Services (CCS), provides analytically driven, scalable, two-way, automated voice, text, email and mobile app notifications. This solution helps banks, telcos, government agencies and utilities around the world connect more effectively with their customers and resolve suspected fraud cases and overdue payments automatically. FICO has collaborated with AWS to bring Amazon’s AI-driven text–to-speech service to CCS.
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FICO is also using Amazon Web Services to deliver CCS Voice.
“We make millions of contacts per day around the world and AWS allows us to scale with the high performance, security and reliability needed to match the growth of our business. In growing regions like Asia-Pacific, where we currently serve six countries, it has been the perfect match for customers who need speed, simplicity and scale,” said VanTassel.
FICO® World 2018 runs through April 19 in Miami Beach, Florida. More than 1,000 business leaders from 50+ countries are attending to explore new ideas, technologies and solutions in AI, advanced analytics and decision management.