Automotive Finance

Automotive Finance

Differentiate your business and innovate with advanced analytics and optimization.

Overview

A massive tidal wave in technology is coming and lenders must incorporate changes into their operational side of their business in order to meet changing consumer preferences and regulatory demands.

Consumers require improved personalized treatment and transparency while they shop from their home computer or on their mobile app. They want to carry their research, preferences and selections from online to the showroom for a better and more consistent buying experience.

Lenders need to improve customer and operational capabilities of their underwriting offerings and prepare against the growing threat of synthetic and other types of fraud through the use of identity resolution technology.

More than ever, finance companies must integrate all aspects of the credit risk lifecycle from marketing, acquisition, customer management, financial crime and compliance through the use of advanced analytics and optimization strategies.

We believe companies need to view their operations in terms of connected ecosystems. FICO brings five business accelerators to the finance sources through the use of preconfigured software, advanced analytics, credit and non-credit scoring solutions to improve and connect decisions across the credit risk lifecycle ecosystem.

Our five business accelerators takes you to a new level to find, acquire, manage, protect and differentiate from the competition. These accelerators provide advanced decisioning in the customer engagement, acquisition and on-boarding, servicing and management, and customer protection areas of your business.

  • Increase regulatory compliance. With today's shifting compliance landscape and the need to be more agile, it is more important than ever to have proper governance as well as explainability and fast auditability of all decisions made.
  • Aggressively compete & meet portfolio objectives. FICO technology enables you to leverage machine learning and analytics to achieve your desired business outcomes and deliver highly compelling and personalized offers.
  • Improve accuracy and speed of decision making. Increase your automatic approval rate with better customer knowledge, the most proven and predictive credit-risk scores, and a holistic understanding of the customer relationship over time.
  • Combat financial crime. FICO can protect your business against emerging threats like synthetic fraud, traditional 1st and 3rd party fraud, and enterprise data breaches using artificial intelligence and machine learning.
  • Improve customer and dealer loyalty.  Today's customer demands digital and multi-channel personalized engagement as well as a holistic view of their customer experience over time. Today's auto dealers need complementary tools that enable them to better partner with you. Create value for everyone involved with the FICO platform.
FICO® Xpress Optimization

Toyota Financial Services

Learn how Toyota Financial Services uses data science to keep customers from losing their cars.

Solution Ecosystems

description Acquisition, Origination & Growth

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autorenew Collections & Recovery

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monetization_on Financial Crime

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Resources

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Digital Transformation for Automotive Finance

Many lenders struggle to gain a competitive edge—they need to quickly grow their portfolio and improve the customer experience, and at the same time balance risk and control operating expenses.
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FICO® Origination Solution for Automotive Finance

Consumers shopping for and financing a new or used vehicle have more choices than ever before. Empowered by digital delivery channels such as self-service and mobile, individuals are now able to rapidly find the vehicle and loan that best ...
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2018 Consumer Survey of Automotive Finance Perceptions USA

In late 2017, FICO commissioned a global independent research study with 2,200 consumers across nine countries to better understand key consumer perceptions within the automotive financing experience. Given new and disruptive innovation...
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FICO® 8 Auto Score

The FICO® 8 Auto Score delivers the same predictive benefits as the FICO® 8 Score, including a refined risk performance classification and protection from authorized user abuse. Furthermore, the FICO® 8 Auto Score incorporates two add...