Equifax and FICO Launch Innovative Credit Management Solution

Global information solutions leader Equifax and FICO, the leading provider of predictive analytics and decision management technology, today announced an enhancement in the UK market to FICO(TM) TRIAD® Customer Manager that integrates Equifax's Customer Insights® service. This solution, the first from the companies' expanded partnership announced last month, will enable lenders and card issuers to improve predictions of customer risk and behavior and make more profitable credit management decisions.

With the addition of Equifax's Customer Insights offering, banks, card issuers and retailers using FICO TRIAD Customer Manager can easily integrate a comprehensive range of customer-level data into their credit decision strategies. They will also be able to create customer-level scores. By using Equifax Customer Insights with FICO TRIAD Customer Manager, financial organizations can improve a range of credit decisions, including which credit offers to make to which customers, what over-limit transactions to authorize, how to treat early-stage delinquencies in collections, and how to manage customers' credit limits.

Leading lenders have used FICO TRIAD Customer Manager for years to successfully make customer-level decisions. Today more than 90% of cards issued in the UK are managed using FICO TRIAD. However, aggregating the source data at the customer level is a challenging undertaking that can require thousands of staff hours -- in some cases, such projects have taken banks years to complete. Equifax Customer Insights can shorten this process, typically to between three and six months.

"Our clients tell us that the difficulty in creating customer-level data is one of the major barriers to high-performance customer decisioning," added Mike Gordon, vice president and managing director of Europe, the Middle East and Africa for FICO. "The Customer Insights service removes that barrier and puts additional data to work in credit strategies managed through FICO TRIAD Customer Manager, the industry-leading credit management application. Our clients can use this new enhancement to reduce credit losses while establishing stronger customer relationships."

"Having a complete view of all the relationships an organization has with a customer gives it much greater insight to manage that relationship as well as shape future credit strategies," explained Shawn Holtzclaw, managing director, Equifax UK. "Our Customer Insights offering gives lenders that facility in an integrated and streamlined way that not only improves performance but that also enables regulatory compliance. The integration of Equifax Customer Insights with FICO TRIAD Customer Manager was an obvious opportunity to build upon our alliance with FICO to serve our customers better."


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