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April 25, 2011
SINGAPORE—April 25, 2011—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that China’s New Finance World magazine has named three FICO solutions to its annual ranking of the most recommended IT solutions for financial services. The publication bestowed the honors on FICO® Capstone® Decision Accelerator for originations, FICO® TRIAD® Customer Manager, and FICO™ Falcon® Fraud Manager. FICO Capstone Decision Accelerator and FICO™ Debt Manager were named most recommended in 2009.
Part of the China ComputerWorld Media Group, New Finance World focuses on technological innovation in China’s financial sector, reaching around 50,000 banking, securities and insurances executives and IT managers. It began its rankings of most recommended solutions in 2008. Winners are selected following a review of nominations by 100 chief information officers from leading Chinese financial services companies.
The issuance of consumer credit on a large scale is a relatively recent development in China over the past decade. FICO is currently working with 10 of China’s top banks to reduce credit risk and increase profitability in their lending operations.
One of the larger beneficiaries of FICO technology is Bank of Communications, which has implemented both Capstone and TRIAD. “With FICO’s decision management solutions, we are seeing much greater efficiency, speed and accuracy across credit life cycle management as well as higher profits,” said Vincent Chiang, CEO of Pacific Credit Card Center, Bank of Communications. “We are positioned to adjust more quickly to changes in the market than competitors who don’t have this advantage.”
“FICO is working hard to accelerate the adoption of best practices and advanced analytics to help our partners and clients in China build a sustainable credit business,” said Cliff Wu, president of FICO Greater China. “We welcome this recognition from New Finance World and the most influential CIOs in China. It means we are delivering on our commitment.”
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