Partnership combines strong existing relationships with powerful predictive technologies to help improve the country’s credit controls

FICO announced its entry into Vietnam in partnership with Blitz IT Consultants, one of Southeast Asia’s fastest growing IT distribution and service providers.  With an initial focus on the financial services market, the agreement encompasses FICO solutions for fraud detection, loan origination, credit scoring and collections.

Vietnamese banks are under pressure from the central bank to reduce bad debt while simultaneously increasing lending to creditworthy borrowers so as to stimulate the economy. This balancing act will require stronger controls and mechanisms to improve adherence to responsible lending practices and minimize future debt problems. Backed by more than 50 years of experience in analytics-based credit risk management, FICO solutions are well suited to helping banks work through these issues.

Blitz is a well-established provider of financial technology in Vietnam. As the only partner of the SWIFT wire transfer network in the country since 2005, Blitz has existing relationships with more than 50 Vietnamese banks and securities firms.

Source:  FICO Press Release