FICO® Member Score Q&A

This personalized and analytics driven approach provides a better member-centric experience and enables credit unions to take a highly targeted approach for credit decisions, marketing outreach, and retention efforts.

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Executive Brief

Credit unions are constantly challenged to lend responsibly, improve member experience, and remain solvent to serve their members. Achieving these goals is often difficult without taking on unnecessary credit risk, spending heavily on marketing, or committing to challenging technology projects. 

Large financial institutions as well as many emerging fintechs are using advanced predictive analytics to transform their marketing, origination, account management, and collections/recovery processes. However, not all financial institutions have the means or desire to develop and deploy their own analytics, and many organizations do not have enough data to build effective models. 

These challenges have given rise to a new adoption approach for advanced analytics and applied AI — a partner such as FICO develops and deploys the advanced analytics via the cloud, using consortium data along with your member data. This approach provides credit unions with predictive analytics in a cost-effective way, enabling a deeper understanding of their members and providing the intelligence to position the right offers at the right time.

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