Category Archives: Customer Engagement

Customer Engagement Challenges Banks Face in Acquiring Customers in a Digital-first Era

Banks and customers

In my role at FICO I have the privilege of engaging in strategic planning discussions with senior banking executives across the globe. Most of these meetings as of late are similar: We are improving the customer on-boarding user experience, both through improved user interfaces, but also through improved analytics to bring everything we know about the customer to bear in our interaction…regardless of product line or channel. Right now we are working on our data lake. At which point, I nod. Then I ask: OK, so who is in charge of the customer journey that you are transforming? At a strategic level, banks understand the challenge they are facing and where their organizations need to go in order to thrive. At a tactical level, the decisions become much more complicated. Who owns the customer? Is that new data source worth the risk of potentially slowing down my origination process? How seriously... [Read More]

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Customer Engagement New UltraFICO™ Score Innovation Now Available for Lenders to Pilot


Consumer awareness of their credit and FICO® Scores has never been higher. Whether planning to buy a car, home or head to college, millions of consumers know and manage their credit score. Now financial inclusion innovation is on the horizon that will change the dynamic of the lender and customer relationship.  Empowering consumers to have greater control over the information that is being used in credit risk management and enabling a deeper dialogue to help both parties make better financial decisions. Earlier this week from Money 20/20, FICO, Experian, and Finicity announced a new credit score called UltraFICO™ Score.  With UltraFICO™ Score, a consumer securely grants permission or ‘opts-in’ to contribute information such as checking, savings and money market account data, which can be compiled by Finicity and combined with consumer credit information from Experian to provide an enhanced view of positive financial behavior. The UltraFICO™ Score includes factors such as length of... [Read More]

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