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China Construction Bank Expands Its Business With Millennial Credit Card Holders Using Big Data Predictive Analytics

China’s top bank wins FICO® Decisions Award for business results achieved with the FICO® Score X Data

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Customer Development

BEIJING — August 15, 2019


  • China Construction Bank (CCB) has significantly improved its credit card approval rates and the automation of these approvals
  • The implementation of the origination solutions is expected to create tens of millions of US dollars of annual profit
  • CCB won a 2018 FICO® Decisions Award for Financial Inclusion
  • China Construction Bank (CCB), one of the leading banks in China, has significantly lifted its approval rate and increased the automation rate in its credit card business using the FICO® Score X Data and FICO® Scorecard solutions to facilitate the origination process and grow its business with the youth market.

The bank has been on a digital transformation journey to broaden its online and mobile banking offering to reach millennial consumers, 18 to 35 years of age. This group represents a significant opportunity for CCB with a growing demand for credit, however many of these consumers also have limited on-bureau credit history which limits the bank’s ability to understand their credit risk. CCB was looking for a way to gather insights on these potential customers using new technologies.

More information: https://www.fico.com/en/solutions/fico-scoring-solutions-for-financial-inclusion

“This project has enabled us to combine external big data, bureau scores with our internal data to enhance our predictive power when calculating the credit risk for the youth population,” said Mr. Erpeng Zhang, director of credit card center, China Construction Bank. “Partnering with the FICO team, we have significantly improved our origination efficiency while maintaining our risk profiles. Our new risk-based underwriting strategy is helping to us to maximize our overall profitability while expanding lending to millennials.”

Using the FICO big data scorecard, CCB has achieved a number of benefits. It has seen a significant lift in its credit card approval rates and the automation of these approvals. The bank has also increased its lending predictive power using eight segment-level scorecards. Plus, CCB has integrated FICO’s industry-leading big data score with its reservoir of application, bureau and internal data.

“China Construction Bank has managed to both expand its business while also extending credit to many young people for the first time,” said Ms. Sandy Wang, managing director, FICO China. “The bank has raised the bar of automated origination and risk management in the industry by applying alternative data to responsibly improve the credit score process and reach more consumers. FICO estimates there are up to 500 million people in China with a thin file or who are unbanked. CCB through this project is helping to create a path to access credit for many young people who will be good customers with a good credit risk profile.”

For its achievements, CCB won a 2018 FICO® Decisions Award for Financial Inclusion.

“China Construction Bank is a pioneer in utilizing new approaches and scoring services to improve decision making and improve financial inclusion efforts,” said Tanya Andreasyan, editor-in-chief, FinTech Futures / Banking Technology and one of the FICO Decisions Awards judges. “The successful adoption of FICO Scorecards has demonstrated the power of advanced predictive analytics using Big Data to solve origination problems at one of the world’s largest banks.”

About China Construction Bank
Founded in 1954, China Construction Bank (CCB) is one of the top banks in China. Headquartered in Beijing, the bank has nearly fifteen thousand offices in the world. CCB credit card center has issued more than 100 million credit cards and has 80 million customers.

About the FICO® Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measureable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2018 judges are:

  • Sid Dash, research director at Chartis Research
  • Tanya Andreasyan, editor-in-chief, FinTech Futures / Banking Technology
  • Anna Milne, editor at Finextra
  • Julie Conroy, research director for Aite Group’s Retail Banking practice
  • Andras Cser, principal analyst - security and risk professionals at Forrester
  • Mon Pernia, head of consumer collections, Globe Telecom (2017 winner)
  • John Rymer, principal analyst - application development & delivery professionals at Forrester

The winners of the FICO Decisions Awards will be spotlighted at FICO® World 2019, the Decisions Conference, November 4-7 in New York City.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at www.fico.com.

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