William J Lansing, CEO
The financial services industry is dealing with record amounts of data than ever, so smarter analytics will become the competitive differentiator among financial service companies.
FREMONT, CA: Shanghai Pudong Development Bank (SPDB) Credit Card Centre (CCC)—the leading credit card issuers with more than 40 million cards issued— deploys FICO Customer Communication Services (CCS) developed by FICO, the leading analytics software company, to boost collections performance while cutting business costs. SPDB has implemented CCS system to improve the risk management of its business and break through the limitations of traditional human collection agents.
The integration of the intelligent machine learning system has allowed SPDB to reshape its business using big data and machine learning to improve efficiency and reduce risk. With the adoption, SPDB is also witnessing high labor costs and effectiveness in debt collection and prevent the risk of non-performing loans at an early stage.
“SPDB continues to use big data, machine learning and AI with confidence,” explains Sandy Wang, General Manager for FICO. “The bank had already embraced these technologies for scoring, so it was a sensible extension to deploy them for customer collections as well. For their innovation with CCS in modernizing and digitize their banking services, SPDB won our 2018 FICO® Decisions Award for Debt Collection.”
In finance, data is paramount to success. Leading players place leveraging data science and analytics Solution for strategic insights and tactical decision making as top priorities. Data is considered vital because it unlocks commercial insights, boost sales, and enhance management reporting and decision making, ultimately making the better operation of the finance function. The analytics platform conferred by FICO is harnessed by the financial sector to manage risk, fight fraud, build more profitable customer relationships, and meet strict government regulations. “Our company’s proficiency in handling Big Data and mathematical algorithms to predict consumer behavior has empowered customers to optimize their strategies and streamline their business processes,” says William J Lansing, CEO of FICO.
Hoping to prosper in the industry, FICO is featured among 10 Most Promising Banking Analytics Solution Providers by Banking CIO Outlook. Moving ahead, FICO will continue to serve organizations with its groundbreaking innovations and advanced technology solutions. “We will continue to use our technologies to help businesses improve the precision, consistency, and agility of their complex, high–volume decisions,” continues Lansing.
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