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FICO aids specialty lenders' growth with new cloud-based solution

Nurdianah Md Nur | May 11, 2015
FICO TRIAD Cloud Edition allows specialty lenders to use analytics on a pay-per-use model without the need for a large upfront investment.

Predictive analytics and decision management software firm FICO is now offering the FICO TRIAD Customer Manager as a cloud-based solution to cater to the needs of specialty lenders.

According to FICO, FICO TRIAD Cloud Edition is designed to enable specialty lenders to leverage advanced, customer-focused analytics and strategies to increase revenues, share of wallet and customer satisfaction. It added that this can be done without requiring a large upfront investment as the solution can be added to existing legacy systems without the need to install new software.

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. It allows credit and deposit risk managers and other users to measure customer risk with predictive analytics, set up targeted risk-based strategies, automate a host of decisions using these strategies, and test these strategies to continually improve results.

Currently, more than 65 percent of all customer credit cards worldwide are managed with FICO TRIAD Customer Manager, said FICO.

 "Our cloud-based version of TRIAD will provide lenders that flexibility, and cloud deployment also gives them a faster time to value," said Stuart Wells, Chief Technology Officer at FICO.

Suited for organisations managing account portfolios ranging from 100,000 to 1.5 million accounts, FICO TRIAD Cloud Edition will be priced based on the number of accounts processed each month.

 

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