ING BANK WILL USE FICO TECHNOLOGY TO POWER GROWTH IN THE CZECH REPUBLIC

Highlights:

  • European banking leader ING Bank will use FICO technology to launch its unsecured lending program in the Czech Republic.
  • The bank’s risk strategy will be defined and executed in FICO® Blaze Advisor® decision rules management rules system.
  • ING Bank will also use credit risk models developed by FICO and is working with Fair Isaac® Advisors, FICO’s consultancy arm, to define its credit risk strategies.
  • ING Bank has banking operations in 40 countries worldwide.
  • FICO Blaze Advisor is a tool offered as part of the FICO® Decision Management Suite.

European banking leader ING Bank will use decision management software and predictive models from analytic software firm FICO to launch its unsecured lending program. ING Bank in the Czech Republic will use one retail banking platform, which will have FICO® Blaze Advisor® decision rules management rules system as its “risk brain,” making fast, consistent, analytically guided credit risk decisions on loan applicants.

In addition to FICO Blaze Advisor, ING Bank will use credit risk models developed by FICO based on its global experience in predicting consumer risk. Fair Isaac® Advisors, FICO’s consultancy arm, is working with ING Bank to define its credit risk strategies. ING Bank already uses FICO Blaze Advisor in some of its European operations.

“When we decided to offer unsecured loans, we wanted to partner with a firm that could not only supply the technology but help us carve out a competitive strategy that kept risk in check,” said Martin Halasz, retail credit risk manager at ING Czech, who is helping to manage this initiative. “FICO brings us 60+ years of experience in this area, as well as the most modern and flexible technology for automating and executing our credit risk strategy.”

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“Banks today must be able to execute their strategies faster and at a lower cost to meet customer demands and compete with fintechs,” said Steve Hadaway, FICO general manager for Europe, the Middle East and Africa. “By combining FICO technology, analytics and counsel with their own platform and strategies, ING Bank will be able to manage their decisions at both a corporate and local level, and get started faster with new products and offers.”

FICO®Blaze Advisor®is the world’s leading decision rules management system, maximising control over high-volume operational decisions. Blaze Advisor provides companies with a scalable solution that delivers actionable insights for smarter business decisions regardless of the business challenge. FICO Blaze Advisor is a tool offered as part of theFICO® Decision Management Suite.

More information: http://www.fico.com/en/products/fico-blaze-advisor-decision-rules-management-system

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