ING Czechs out FICO for lending programme
ING will use decision management software and predictive models from analytic software firm FICO to launch its unsecured lending programme in the Czech Republic.
The bank will use one retail banking platform, which will have FICO Blaze Advisor decision management rules system as its “risk brain”, making “fast, consistent, analytically guided” credit risk decisions on loan applicants.
In addition to Blaze Advisor, ING will use credit risk models developed by FICO. Fair Isaac Advisors, FICO’s consultancy arm, is working with the bank to define its credit risk strategies. ING already uses Blaze Advisor in some of its European operations.
Martin Halasz, retail credit risk manager at ING Czech, says: “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.”
FICO adds that Blaze Advisor provides companies with a scalable solution and is offered as part of its Decision Management Suite.
FICO was founded in 1956 and is based in Silicon Valley. It says it holds more than 175 US and foreign patents on technologies in financial services (and telecommunications, health care, retail and other industries).
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