StepChange Debt Charity Chooses FICO Platform to Help Assess People in Problem Debt
20 Novembro 2023 - 6:15AM
Business Wire
Greater system flexibility and microservices
architecture means hyper-personalized recommendations for people in
UK needing debt advice
Global analytics software leader FICO today announced that
StepChange, the UK’s leading debt advice charity, will use FICO®
Platform to help assess people in problem debt. StepChange will use
the flexibility and hyper-personalisation of the platform to
recommend the best individual outcome to each consumer, with the
aim of helping them to become debt-free.
More information: www.fico.com/en/fico-platform
“As part of our back-office transformation, we saw the need to
improve the flexibility and capability of our existing decision
engine to be able to centralize our logic from three disparate
systems — our old rules platform did not give us the capabilities
we need to be fit for the future,” said Matt Bentley, head of
change and enterprise architecture at StepChange. “We also
needed to simplify the management of strategies, and do more
rigorous testing of new strategies. After a review of the market,
we found that FICO Platform gave us the greatest capabilities in
all these areas. The charity’s commitment to continuing to provide
hyper-personalised debt advice and being able to explain customer
decisions in real time enables us to achieve the best outcome for
every consumer.”
FICO® Platform enables firms to ingest data, develop deep new
insights with AI and ML, make hyper-personalized decisions at
scale, and achieve world-class business outcomes. It is uniquely
suited to maximize customer satisfaction, loyalty, and long-term
retention.
“It’s important to us that FICO® Platform has a
microservice-oriented architecture — we can call up the decision
service when needed in our processes,” Bentley said. “This is a
much more manageable approach that fits perfectly in our new IT
ecosystem. We will be able to pull in more data sets than our
legacy system can handle, improving our customer advice. FICO
Platform is also a very user-friendly platform, which reduces our
training needs.”
“StepChange performs an incredibly important public service by
providing free debt advice in an impartial way to anyone who needs
it,” said Matt Cox, vice president and general manager for FICO
in EMEA. “That service has never been more important than now,
when inflation is high, energy costs are rising and many people
find it hard to manage their payments and debt. We are proud to
partner with them to make sure people can get the most relevant,
most personalized recommendations possible.”
FICO® Platform has received the Banking Innovation of the Year
Platinum Award in the Future Digital Awards for Fintech &
Payments 2023, presented by Juniper Research. FICO Platform also
received placement as a leader among top providers in “The
Forrester Wave™: AI Decisioning Platforms, Q2 2023” report.
About StepChange
StepChange Debt Charity is the UK’s largest debt advice charity,
helping hundreds of thousands of people a year. Founded in 1993,
StepChange supports people experiencing debt problems through
telephone and online services, and campaigns for change to reduce
the harm and stigma associated with debt.
How your readers can get help with their debts
We provide the UK’s most comprehensive debt advice service, from
budgeting tips through to managing debt solutions that enable to
people to pay off or clear debts. All details about our free debt
advice are available on our website.
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About FICO
FICO (NYSE: FICO) powers decisions that help people and
businesses around the world prosper. Founded in 1956, the company
is a pioneer in the use of predictive analytics and data science to
improve operational decisions. FICO holds more than 215 US and
foreign patents on technologies that increase profitability,
customer satisfaction and growth for businesses in financial
services, insurance, telecommunications, health care, retail and
many other industries. Using FICO solutions, businesses in more
than 100 countries do everything from protecting 2.6 billion
payment cards from fraud, to improving financial inclusion, to
increasing supply chain resiliency. The FICO® Score, used by 90% of
top US lenders, is the standard measure of consumer credit risk in
the US and other countries, improving risk management, credit
access and transparency. Learn more at www.fico.com.
FICO is a registered trademark of Fair Isaac Corporation in the
United States and in other countries.
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FICO Wendy Harrison/Parm Heer ficoteam@harrisonsadler.com
0208 977 9132
StepChange General – 0207 391 4598 //
press@stepchange.org Out of hours - 07985 404153 Media Centre
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