Tag Archives: Analytics

Risk & Compliance FICO Safe Driving Score Predicts Likelihood of Future Collisions

FICO Safe Driving Score
Apr072019

Despite advancements in safety technology, road fatalities are on the rise. Per the National Highway Traffic Safety Administration, human error accounts for 94% of crashes. FICO, along with global risk management leader, eDriving, firmly believes that proper education and reinforcement of safe driving behaviors can help make roads safer and potentially save lives, including for fleet drivers of all types of vehicles, driving for varied work purposes in all types of conditions, and others. Pertinent data and prudent application of predictive analytics can provide insights into helping identify and reinforce safe driving behaviors. FICO launched the FICO® Safe Driving Score in partnership with eDriving’s smartphone application, MentorSM  in October 2016.  Since then, the underlying model and application have both been fine tuned to the specific needs and requirements of Fleet Safety Management programs and adopted by global industry leaders with fleets of tens of thousands of drivers in service, delivery,... [Read More]

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Risk & Compliance Reinventing Originations in the Digital Era

Digital
Mar262019

In today’s fast-paced, technology-driven society, market incumbents across a variety of industries have had to reinvent themselves in the face of massive digital disruption. Before the iPod, music industry executives couldn’t fathom the idea that consumers might prefer to buy individual songs rather than a whole album. Before Uber or Lyft, taxi company executives couldn’t imagine consumers would be comfortable summoning unlicensed strangers to pick them up in their cars and drive them around. Not every industry experiences these same tectonic shifts and not every company ends up getting run out of business by an Apple or an Uber. However, avoiding this fate requires market incumbents in every industry to consistently and rigorously evaluate the ways in which they are harnessing emerging technologies to meet their customers’ evolving expectations. So where does this consumer experience driven, digital world leave financial institutions?  The answer of course, is “it depends.” For some,... [Read More]

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Collections & Recovery Government Collections Analytics: 3 Ways To Collect More Money

Government Collections Analytics
Feb262019

The business of collecting debt is getting more challenging. The current environment where debtors don’t pick up the phone or answer the mail has made collections even more difficult.  And people who owe you money, likely owe money to many others and you are challenging for your fair share. It used to be if a department had a strong collection system they could collect their fair share. Now, that is just table stakes. The following article from Dataconomy discusses how government collections analytics are needed to truly increase collection performance. In addition, new collection strategies that take advantage of this analytics are needed which enable you to work smarter, not harder in order to collect more money using cost-effective strategies. Government Collections Analytics: Predictive Models – Who will Self-Cure All of us who have worked in the collections industry understand that different strategies work for different customers (“debtors”). Some debtors... [Read More]

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