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FICO has developed a unified FICO® Platform for decision management that includes capabilities for data management, analytic development and execution, strategy design and reporting. These capabilities can be shared across different functions, giving users a 360-degree customer management tool. Leading banks across Europe are adopting FICO Platform in order to break through the silos in their organization and propel growth while reducing the costs associated with installing and maintaining different point solutions for each area of the business.
One important capability set that is growing in usage across EMEA is prescriptive analytics, or optimization. This involves the use of advanced, AI-powered analytics to determine customer strategies that meet specified business goals under constraints. Banks across Europe have seen dramatic increases in performance by using FICO optimization to grow the business, manage risk and improve customer satisfaction.
The strength of FICO Platform and its embedded optimization capabilities was acknowledged in late 2020 with The Forrester Wave™: Digital Decisioning Platforms, Q4 2020, an industry analyst report that named FICO as category leader.
“The judges felt FICO was industry-leading in terms of driving change through a single decisioning platform,” said Luke Broadhurst, CEO of Shard Media, which publishes Credit Strategy magazine. “It offered an impressive set of metrics highlighting impact on the customer, with evidence of improved performance and customer outcomes.”
“We are celebrating this achievement, which validates the strength of our vision for a unified decision management platform,” said Matt Cox, vice president and general manager of FICO in EMEA. “From data ingestion to predictive modelling to prescriptive analytics and decision optimization, our platform gives our hundreds of clients across EMEA a real analytic advantage.”
About the Credit Awards
The Credit Awards are known as the leading awards in EMEA for credit professionals, with 30 categories this year. The awards recognise and celebrate innovation, best practice and the hard work of individuals, business divisions and pan-global conglomerates across the entire industry. The 2022 awards were judged by 16 leading figures in the EMEA credit industry.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
Learn more at www.fico.com
