China Minsheng Bank Processes 3.5 Million Online Credit Card Applications Automatically Using FICO Customer Onboarding

Wavy building
Radial circle

Project develops bank's multi-channel capability and earns innovation award

Beijing, CHINA — 21 January, 2016


  • China Minsheng Bank has created an online credit card application decision program that allows customers to apply using either online or mobile channels and receive an instant approval decision. 
  • Since implementing the FICO solution, a little over a year ago, the bank has received over 3.5 million applications for credit cards with online automated processing rate of up to 85%
  • Credit card approval decisions are made within three minutes, and credit cards delivered within five days. The same process used to take at least a month using offline methods.
  • China Minsheng Bank has won a 2015 FICO Decision Management Award, which is judged by leading independent industry experts, for Online Credit Card Customer Onboarding and Management.

For more information:

Using FICO® Blaze Advisor® decision rules management system to manage its risk management models and automate decisions, China Minsheng Bank has built a system that allows consumers to apply for credit cards using either online or mobile channels and receive an instant approval decision.

So far, in just over a year, the bank has received more than 3.5 million applications through online channels, with an online automated processing rate of up to 85%  (measured monthly) and decisions delivered to customers within three minutes.

The bank wanted to take advantage of the consumer trend in China towards e-services and grow its market share of 20 million credit cards by automating its approval process. The bank also integrated this approval process into its online application channels. China Minsheng Bank saw a rapid return-on-investment, with the FICO Blaze Advisor project up and running within six months.

The solution is truly multi-channel — people can apply through mobile banking, WeChat, MMS, QR code, third-party apps, web portals and third-party websites.

The resulting data is analyzed against a scoring model built with the use of valuable external structured data. The model uses FICO and third-party platforms to collect information on an applicant’s transactions and consumption behavior. This allows the origination and underwriting process to be flexible and proactive.

For China Minsheng Bank, this was critical, as the bank was observing that the traditional ‘offline’ business model was no longer effective in reaching a large customer base, quickly assessing credit ratings, increasing operational efficiency and improving customer experience.

The China Financial Certification Authority expects that mobile banking customers will account for around 24 percent of the total e-banking users in 2015, and that 40 percent of those will buy financial products through their smartphones.

Doctor Victor Yu, IT Department, Credit Card Center, China Minsheng Bank said, "We wanted an improved experience for our customers. So we needed to change the traditional way of thinking, and use digital technologies to improve our response times and agility. FICO’s solution helped us to transition from traditional face-to-face marketing and originations to an online that yielded strong results and satisfied customers.”

Joel Wells, Director, Application Development, Discover Financial Services, said, “As one of the judges for this year’s Decision Management Awards, I was impressed by China Minsheng’s integration of multiple technologies in order to provide high quality risk decisions and superior customer service. This project shows China Minsheng’s commitment to being one of the leaders in the growth of China’s credit economy.”

John Chen, Managing Director, FICO China, said, “This project has helped China Minsheng Bank to dramatically improve its customer experience and competitiveness by granting instant approval decisions to customers. I am proud that one of our customers in Asia Pacific was selected among a global pool of organizations to win the 2015 FICO Decision Management Award for Customer Onboarding and Management.”

The FICO Decision Management Awards recognize companies that have achieved outstanding business results using FICO predictive analytics and decision management solutions. For more information:

About China Minsheng Bank
China Minsheng Banking Corp., Ltd. was established in 1996 in Beijing. On December 19, 2000, the A share stock of China Minsheng Bank (600016) was listed on the Shanghai Stock Exchange (SSE). On November 26, 2009, the company was listed at the Hong Kong Stock Exchange. As at December 31, 2012, the Company had 33 branches and over 700 banking outlets.

About FICO
FICO (NYSE: FICO) helps individuals and businesses worldwide make better decisions by applying data science to solve human problems. Using predictive analytics, FICO has dramatically improved profitability, customer satisfaction and growth for companies in 100 countries across financial services, telecommunications, health care, retail and other fields. Founded in 1956 and based in Silicon Valley, FICO holds more than 170 US and foreign patents for technologies that have transformed entire industries. Whether protecting 2.5 billion payment cards from fraud, helping hundreds of millions of people worldwide obtain credit, or ensuring that millions of airplanes and rental cars are in the right place at the right time, FICO powers decisions that help businesses and people prosper.

Learn more at

Join the conversation at &

Media contacts


Katie O’Connell
+1 510-621-9832

Europe, Middle East & Africa

Darcy Sullivan
+44 (0) 7808-777-339

Asia Pacific

Saxon Shirley
+65 6422-7795

América Latina

Milla Delfino
+55 11 97673-6583

Take the next step

Connect with FICO for answers to all your product and solution questions. Interested in becoming a business partner? Contact us to learn more. We look forward to hearing from you.