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New Banking Solutions from FICO Focused on Reducing Complexity While Increasing SophisticationMIAMI, April 19, 2018 /PRNewswire/ -- FICO WORLD 2018 Highlights:
FICO today 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. More information: http://www.fico.com/en/origination/solution-for-financial-services "We have seen remarkable changes in banking in the last two years as lenders accelerate their digital transformation and reinvent the customer experience," said Tim VanTassel, vice president of FICO's credit lifecycle business line. "Lenders are engaged in an analytic arms race to find, delight and retain the right customers by determining and deploying differentiated offers and experiences." Originate Loans Using Optimized Deal Structures "FICO is the only vendor that is able to apply optimization technology to search in real time for deals that provide maximum customer desirability while abiding by current pricing and loan eligibility policies," said VanTassel. "Last year we released ADS targeting auto finance but with this release we have become smarter about how to organize eligibility rules for even faster search outcomes, and we are now addressing mortgage lending as well. Supercharging originations so that each deal can be checked against thousands of options and loan products allows us to answer the simple consumer ask, make me an offer that makes me want to be a customer of yours, and make it now!" Manage Customers with Greater Agility "FICO Strategy Director provides analytically powered decisions to maximize the consumer's relationship with their service provider," explained VanTassel. "Strategy Director helps to complete the credit lifecycle ecosystem by using the same data, decision logic and analytics to maintain the current customer view, which can of course then be fed into a new originations decision." Make Better Decisions Collecting Payments 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 "Using Amazon Polly we can now create and edit voice responses in seconds versus days," said VanTassel. "We're able to generate speech recordings for our IVR systems and voice notification products at speed, which is essential for our customers that are working in dynamic and highly regulated markets." FICO is also using Amazon Web Services to deliver CCS Voice. "We make millions of contacts per day around the world and AWS allows us to scale with the high performance, security and reliability needed to match the growth of our business. In growing regions like Asia-Pacific, where we currently serve six countries, it has been the perfect match for customers who need speed, simplicity and scale," said VanTassel. FICO® World 2018 runs through April 19 in Miami Beach, Florida. More than 1,000 business leaders from 50+ countries are attending to explore new ideas, technologies and solutions in AI, advanced analytics and decision management. About FICO Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/ For FICO news and media resources, visit www.fico.com/news. FICO and Falcon are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
View original content with multimedia:http://www.prnewswire.com/news-releases/new-banking-solutions-from-fico-focused-on-reducing-complexity-while-increasing-sophistication-300630083.html SOURCE FICO |