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New Banking Solutions from FICO Focused on Reducing Complexity While Increasing Sophistication

Highlights:

  • FICO released new versions of its industry-leading risk solutions: FICO®Origination Manager, FICO® Strategy Director and FICO® Debt Manager
  • FICO has expanded its use of Amazon Web Services (AWS) for risk solutions
  • More than 1,000 business leaders from 50+ countriesare attending FICO World 2018 in Miami Beach

FICO unveiled a host of new retail banking solutions that allow lenders to manage the credit lifecycle in a way that is smarter, faster and simpler. The innovations are designed to help support lenders with their digital transformations as retail banking continues to be shaped by the forces of mobile, cloud, analytics and big data.

Originate Loans Using Optimized Deal Structures

Providing consumers with multiple options for the best-fitting terms in real time has been an industry goal for some time, and with its latest innovation FICO has made it a reality. FICO® Origination Manager now interacts seamlessly with Alternative Deal Structure (ADS) to evaluate thousands of alternative offers and present a set of differentiated options in seconds.

Manage Customers with Greater Agility

FICO® Strategy Director, which delivers faster, easier decision authoring and management with plug-and-play industry configurations, builds on the proven decision process flow of FICO® TRIAD® Customer Manager and now offers the same business value with configuration for the Telecommunications industry. The Telco Service Management solution uses analytically driven decisions to help make relevant and profitable offers, reduce churn and improve device financing decisions. At the same time, new configurations for lenders bring the capabilities of TRIAD Customer Manager to Strategy Director and provide a simple migration to speed cloud adoption and time to value.

Make Better Decisions Collecting Payments

FICO® Debt Manager FitAgent can now sift through massive real-time datasets from internal or external sources, such as dialers and other communication systems, using FICO® Decision Management Platform Streaming to rapidly generate powerful insights that assist with the collection and recovery process.

FICO has further improved the FitAgent user experience with new controls, views and insights around payments, customers, accounts and communication that put the customer at the center of a lender’s operations. To reduce the cost of deploying industry-leading analytics, Debt Manager also easily consumes optimization analytics from FICO’s suite of decision optimization capabilities.

“The improvements to our debt collection solution have been designed to reduce the number of places a collection agent needs to go to get the information they need,” said VanTassel. “It also helps agents know whether they’re doing the right thing in a given situation for the customer. This improves the cure rate and the likelihood of that person remaining a loyal customer.”

Improve Customer Communications with AI and the Cloud

FICO® Customer Communication Services (CCS), provides analytically driven, scalable, two-way, automated voice, text, email and mobile app notifications. This solution helps banks, telcos, government agencies and utilities around the world connect more effectively with their customers and resolve suspected fraud cases and overdue payments automatically. FICO has collaborated with AWS to bring Amazon’s AI-driven text–to-speech service to CCS.

Source: FICO

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