LONDON—November 20, 2014—FICO (NYSE:FICO), the predictive analytics and decision management software company, today announced that UniCredit, Italy’s largest bank, will analyze Big Data to improve customer lending decisions and capital optimization, using FICO analytic technology. With technology from the FICO® Solution Stack, UniCredit expects to be able to substantially increase profit per account on personal loans.
FICO® Decision Optimizer enables UniCredit to select offers and terms on personal loans that maximize both revenue and customer acceptance, and lead to longer relationships with the customers. These decisions are then deployed in FICO® Blaze Advisor® business rules management system, which serves as the bank’s decision engine for origination and management of personal loans, credit cards and small business loans. While the initial implementation is for the Italian market, UniCredit have licensed FICO Decision Optimizer and FICO Blaze Advisor for use across their retail banking network, which operates in 50 markets and 20 countries.
“We are centralizing credit decisions in order to apply best practices to every decision we make,” said UniCredit’s Ivan Cavinato, head of Credit Risk Management. “FICO impressed us with its experience in credit optimization, as well as its acquisition of Big Data analytic technologies. This complements our strategic investment in Big Data to improve our understanding of customers’ needs and risk.”
“UniCredit is leading a technology-powered ‘credit revolution’ that will improve its profitability while making more credit available to customers who can manage it well,” said Hayley Kershaw, general manager for FICO in EMEA. “This is a triple-win for the bank, its customers and the Italian economy.”
FICO (NYSE: FICO), formerly known as Fair Isaac, is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
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