Tesco Bank has selected FICO analytics and decision management technology to provide collections, risk and fraud solutions to for its banking platforms. Tesco Bank is the UK’s most successful supermarket bank, with 6.5 million customer accounts across 28 product lines. The FICO solutions will support Tesco Bank’s lending decisions and provide additional security against fraud.
FICO’s suite of solutions for managing credit combine predictive analytics, decision management software and best practices. To support its banking operations, Tesco Bank has purchased four FICO decision management solutions – FICO Debt Manager for collections and recovery, FICO PlacementsPlus service for collections agency management, FICO TRIAD Customer Manager and FICO Falcon Fraud Manager. Tesco Bank plans to go live with the entire suite in early 2011.
“The means by which banks create a value-focused customer experience, while managing credit and fraud losses, creates a core competitive differentiator in the marketplace,” said Mike Gordon, vice president and managing director for FICO in EMEA. “We are excited to be supporting Tesco Bank’s plans in this area and look forward to helping Tesco Bank improve its lending decision making, reduce fraud and build customer loyalty.”
FICO says that FICO TRIAD Customer Manager is used to manage two-thirds of the world’s active credit cards.
