Sufi Offers Auto Financing in Minutes with FICO Software

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Customer Success

Miami, July 1, 2019 —

Sufi, a Colombian financing firm that is part of Grupo Bancolombia, is completing the loan application process within minutes using software from FICO, a leading analytics software company. By offering faster financing decisions based on FICO technology, Sufi, which specializes in consumer loans through third-party channels, has achieved exponential growth, increasing the number of loans it has approved by 387 percent during 2018.

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In 2015, Sufi searched for a solution that would simplify its lending processes and help it meet the rising demand for same-day financing. Using FICO® Origination Manager, Sufi has accelerated the processing of applications and provided greater flexibility in decisions about new loan agreements. Sufi uses the Decision Module as its decision engine, and the Application Processing Module, which works as a workflow automation tool, accelerating decisions and enabling operations from any location.

"FICO has successfully reduced our response times thanks to an automation platform that digitizes the entire financing process," said Nataly Perez, purchasing experience manager at Sufi. "This allows our risk department to instantly assess the applicant's risk and reduce processing time to a few minutes, which prevents customers from going elsewhere to seek financing."

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.

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FICO is a registered trademark of Fair Isaac Corporation in the United States and in other countries.

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Greg Jawski
Porter Novelli for FICO
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