Finland’s S-Pankki Will Use FICO Risk Analytics to Grow Customer Base

"With FICO models, we can pursue growth more aggressively, knowing that we can stay within our risk guidelines.” - Mika Svar, head of Credit Risk at S-Pankki

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Customer Development

LONDON — 25 March, 2021 —

Global analytics software firm FICO today announced that S-Pankki, the banking arm of Finnish retailing co-operative S-Group, will use next-generation risk analytics from FICO to grow its customer base.

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“As we add new products and expand our customer base, we need a comprehensive view of our enterprise risks,” said Mika Svar, head of Credit Risk at S-Pankki. “In order to create the most advanced risk analytics, we reviewed the top analytics providers as well as consulting firms and credit bureaus, and found that FICO has the greatest expertise in this area worldwide. With FICO models, we can pursue growth more aggressively, knowing that we can stay within our risk guidelines.”

“A more advanced analytics approach is the key to lending with confidence,” said Steve Hadaway, vice president and general manager for Europe, the Middle East and Africa at FICO. “S-Pankki is taking the right approach to upgrade its models as part of its growth strategy.”

FICO uses a wide array of modeling technologies in developing predictive analytics, and has the most experience in this field of any firm worldwide. FICO analytics are used by thousands of lenders, retailers and other firms, and the company has more than 100 patents related to AI, machine learning and predictive analytics.

About S-Pankki
S-Pankki (S-Bank) is a Finnish bank that wants to enable a slightly more moneyed tomorrow for everyone, regardless of the thickness of their wallet. In Finland, expertise means understanding both the economy and people: as part of the S Group, we know the everyday lives of our 3.1 million customers. We are reforming the banking sector by providing superior ease and benefits by combining bank and commercial services.

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, 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.

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