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Raiffeisen Chooses FICO Cloud to Reduce Collections Costs

Raiffeisen Chooses FICO Cloud to Reduce Collections Costs

European banking leader migrating to cloud edition of FICO® Debt Manager™ solution

Risk & Compliance December 18, 2018

LONDON — December 18, 2018

Highlights:

  • Raiffeisen Bank International, a leading European retail and commercial bank, will use the cloud edition of FICO® Debt Manager™ solution, which the bank is piloting in Albania
  • The cloud edition is expected to make future upgrades faster and less dependent on IT resources at the bank.
  • FICO Debt Manager is a highly automated accounts receivable management system which helps organizations control costs, boost revenue and stay compliant while collecting and recovering debt

To reduce the costs of collections, Raiffeisen Bank International, a leading European retail and commercial bank, will use the cloud edition of FICO® Debt Manager™ solution, a platform for collections and recoveries used by lenders and third-party agencies. The cloud edition is expected to make future upgrades faster and less dependent on IT resources at the bank.

More information: https://www.fico.com/en/products/fico-debt-manager-solution

“In an era of digital competition and disruption, we were looking to accelerate the evolution of our collection system while optimizing the costs,” said Peter Jacenko, managing director and global head of International Retail Risk Management at Raiffeisen Bank International. “With FICO providing Debt Manager software as a service, we optimize our costs and free up time for our business and IT teams. FICO’s cloud solution is of the highest quality and considers the necessary security standards.”

“Collections is moving to the cloud, along with many other core functions in retail banking,” said Steve Hadaway, FICO general manager for Europe, the Middle East and Africa. “Raiffeisen Bank International is a market leader and is showing the way of the future for advanced collections and customer management.”

Raiffeisen Bank International considers Austria and Central and Eastern Europe its home market. In Austria, it is a leading commercial and investment bank for the country's top 1,000 commercial customers. In CEE, its subsidiaries cover the entire region. The bank serves 16 million customers through 2,200 business outlets in the corporate and private customer segments, as well as in investment banking.

FICO® Debt Manager™ solution is a highly automated accounts receivable management system which helps organizations control costs, boost revenue and stay compliant while collecting and recovering debt. Used by banks, telecoms, governments, collection agencies, health care providers and more, Debt Manager is readily configurable for collections, recovery, debt sale, vendor management, bankruptcy, repossession and asset remarketing. It is available on-premises or in the cloud.

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 190 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.

Learn more at https://www.fico.com

FICO and Debt Manager are trademarks or registered trademarks of Fair Isaac Corporation in the U.S. and other countries.

Emily Broadbent for FICO
Catalysis
+44 (0)20 7759 2017
fico@catalysis.co.uk

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