Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

FICO LAUNCHES CLOUD-BASED VERSION OF TRIAD, WORLD’S LEADING CREDIT ACCOUNT MANAGEMENT SYSTEM, TO HELP SPECIALTY LENDERS GROW PROFITABLY

  • Major US auto lender first to deploy to streamline collections decision-making
  • Specifically designed for organisations managing portfolios ranging from 100,000 to 1.5 million accounts
  • More than 65 percent of global credit cards managed with TRIAD

FICO (NYSE:FICO), the predictive analytics and decision management software company announced the release of FICO® TRIAD® Cloud Edition, a cloud-based version of its industry-leading account management solution. The new offering, available as a hosted solution on the FICO® Analytic Cloud, gives smaller and specialty lenders the ability to use advanced, customer-focused analytics and strategies to increase revenues, share of wallet and customer satisfaction.

With FICO TRIAD Cloud Edition, credit grantors can test, automate and improve decisions for credit and debit cards, deposit accounts, loans, auto financing and other credit products. Credit and deposit risk managers and other users can measure customer risk with predictive analytics, set up targeted risk-based strategies, automate a host of decisions using these strategies, and test new “challenger” strategies against their current “champions” to continually improve results. Currently, more than 65 percent of all customer credit cards worldwide are managed with FICO® TRIAD® Customer Manager.

While FICO TRIAD Customer Manager is used by many of the world’s largest banks, TRIAD Cloud Edition was specifically designed for organisations managing account portfolios ranging from 100,000 to 1.5 million accounts. TRIAD Cloud Edition is the perfect fit for organisations that are looking to add the sophisticated power of TRIAD’s analytic and strategic design to their legacy systems without having to install new software.

“Many specialty lenders, such as auto creditors and installment loan providers, need a pay-as-you-go model for account management, without a large upfront investment,” said Stuart Wells, chief technology officer at FICO. “Our cloud-based version of TRIAD gives lenders that flexibility, and cloud deployment also gives them a faster time to value. FICO has provided a hosted, service-based version of TRIAD through major card processors for over 25 years, and now TRIAD Cloud Edition brings these capabilities to even more credit grantors.”

Kenn Wardle, an auto industry consultant in the US with nearly twenty years’ experience in portfolio management and risk assessment, believes that FICO TRIAD Cloud Edition will greatly help auto lenders minimise delinquency and collection operational expenses. “As US automakers forecast double-digit growth this year, it is important for lenders to be mindful of risks,” Wardle said, “Increasing their use of predictive analytics will help lenders assess these risks with greater accuracy, and take the right action to ensure repayment.”

A major US auto lender will be among the first customers of TRIAD Cloud Edition. The company will use the new solution to deploy analytic scores and manage collections in the early stages of delinquency.

Kenn Wardle added that the auto finance industry is keenly interested in technology that allows them the ability to outsource administration and thereby focus on their core business objectives. “With many competing IT projects, companies do not have a dedicated team of in-house experts to set up and manage an on-premises collections decision engine. WithTRIAD Cloud Edition, FICO manages all the hardware, software and associated requirements. This is perfect for US auto finance companies.”

FICO® TRIAD® Cloud Edition can be used to manage decision areas such as credit facilities, pricing, reissue, early-stage collections and marketing communications.

TRIAD Cloud Edition is priced based on the number of accounts processed each month.