Tag Archives: Analytics

Risk & Compliance Reinventing Origination: Fixing the Decisions that Matter


In this series, I discussed how digital transformation is reshaping the origination processes and improving the customer experience. The previous two blogs have looked at how automated systems can be used to drive new business growth, and how it can sustain current customers by improving the customer experience. For the final installment in the series, I want to discuss how analytics can transform the offer determination and decision accuracy process. Utilizing Analytics to Streamline Offer Determination Prescriptive analytics can be used to evaluate all possible offer combinations and identify which ones will maximize target performance metrics while adhering to organizational constraints. Doing so can lead to more flexible offers for consumers and increased sales for dealers, without compromising risk or compliance standards. For example, we all know that a trip to the car dealership can be tedious and anxiety-inducing. However, auto finance providers are looking to make it easier for... [Read More]

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Risk & Compliance FICO Awarded Drexel LeBow Analytics 50 Award for the FICO Safe Driving Score

FICO Awarded Analytics 50 Award

For the third year in a row, FICO was honored with the Drexel LeBow Analytics 50 award for our innovative work on the FICO® Safe Driving Score. The university’s Center for Business recognizes 50 organizations nationwide, who leverage analytics in notable and innovative ways to solve business problems. Industry honorees include retail, insurance, sports, healthcare, transportation and finance. Drexel University’s LeBow College of Business believes analytics strides should be paired with a clear organizational strategy for the most significant impact. Thanks to the Analytics 50 Award, the university is making sure businesses who reach this achievement don’t go unnoticed. Can Arkali, senior director of Scores and Predictive Analytics at FICO, was at awards ceremony in Philadelphia in May to accept the award. FICO launched the FICO® Safe Driving Score in 2016 in partnership with global risk management leader, eDriving. Per the National Highway Traffic Safety Administration, human error accounts for 94%... [Read More]

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

FICO Safe Driving Score

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


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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