FICO: Assuring Growth in the Evolving Financial Landscape

William J Lansing, CEO, FICOWilliam J Lansing, CEO
The introduction of analytics in the realm of finance has become a boon for the banking sector. However, with rapid changes in the regional economies, consumer behavior and regulatory constraints, financial institutions strive to remain abreast with the changing market conditions. FICO, a San Jose, CA headquartered company provides powerful solutions that support financial institutions keep pace with the ever evolving financial arena. The analytics software and platforms conferred by FICO is leveraged across myriad of industries to manage risk, fight fraud, build more profitable customer relationships, and meet strict government regulations. “Our company’s proficiency in handling Big Data and mathematical algorithms to predict consumer behavior has empowered customers to optimize their strategies and streamline their business processes,” says William J Lansing, CEO, FICO.

FICO offers a wide array of products and solutions to its customers. For financial institutions, the herculean task of extracting, aligning and distilling the right information from the huge unstru¬tured data makes it extremely challenging to optimize credit card offers. FICO’s bankcard service portfolios by matching the right card offer to the right customers by gathering and transforming data from corporate or public. In addition to this, the company’s bankcard service also simplifies fraud management through centralized, flexible, scalable, and coordinated technologies; FICO’s fraud solutions help clients manage multiple fraud-related products from a single platform. Moreover, with the evolving debt collection landscape, banks require advanced solutions. To cater this need, FICO’s Debt Management Solutions, provide automated strategies for every phase of the debt lifecycle, including pre-delinquency detection, automated communication systems, virtual agent solutions, segment¬ed and individualized collection treatments and outsourced file management.

In an aid to support issuers boost and sustain growth in a revolutionized credit landscape, FICO equips them with predictive analytics via FICO Score products and Credit Scoring Services.

The company also offers a highly flexible and scalable approach to credit card fraud detection across the organization and channels. The company also provides a full portfolio of advanced analytic tools and expertise to financial institutions, from beginners to advanced modelers, to develop, build, test, deploy and manage predictive models.In addition, FICO PreScore Service combines FICO credit bureau score delivery; strategy consulting and campaign analytics to help U.S. credit grantors execute more profitable prescreening campaigns. “Leading U.S. lenders have relied on our PreScore experts’ knowledge to conduct thousands of successful campaigns and significantly improve results,” claims Lansing.

From a business perspective, quite often, leasing involves great risk and re¬ward for providers. In order to avert this risk, FICO helps financial services leasing providers address the unique risks and regulatory demands of leasing. “Our advanced analytics in financial services help lessors improve consistency and accuracy to meet regulatory and growth requirements,” says Lansing. In order to cater to the needs of small businesses looking for credit, FICO equips lenders with the automated processes that reliably and consistently minimize the data, time, and expense of assessing applicants’ credit risk.

95 percent of the largest financial institutions in the US are FICO clients

Having more than five decades of expertise, the company provides advanced analytics for businesses in more than 80 countries to make better decisions that drive higher levels of growth profitability and customer satisfaction. Moving ahead, FICO will continue to serve organizations with its break-through technologies and innovations to remain ahead in the industry. “We will continue to use our technologies to help businesses improve the precision, consistency and agility of their complex, high–volume decisions,” concludes Lansing.