HDFC Bank, Axis Bank and AU Small Finance Bank
early adopters with FICO® Platform
FICO (NYSE: FICO):
Highlights:
- HDFC Bank, Axis Bank and AU Small Finance Bank are early
adopters with FICO® Platform
- FICO® Platform is now available in India – delivering the
latest advanced analytics and artificial intelligence capabilities
to empower local enterprises
- FICO boasts partnerships with the majority of India's leading
private sector banks, including 8 out of the top 10
- FICO® Platform has achieved 16 consecutive quarters of greater
than 40 percent year-over-year growth
- AU Small Finance Bank, a growing, technology-driven Indian
lender, is using the FICO® Platform for customer onboarding and
originations, increasing loan automation substantially
As FICO officially launches its industry-leading
cloud-based platform in India, pioneering Indian banks like
HDFC Bank, Axis Bank and AU Small Finance
Bank are among the early adopters set to elevate customer
satisfaction and drive innovation in the banking sector. The
FICO® Platform brings to market a suite of advanced
decisioning and artificial intelligence capabilities tailored to
empower local businesses.
“In India's dynamic business environment, financial institutions
will now have the potential to deliver hyper-personalized customer
experiences, reshape business models, and achieve optimal outcomes
for customers and stakeholders,” said Dattu Kompella,
managing director in Asia for FICO.
Balaji Narayanamurthy, Head of Business Intelligence Unit at
Axis Bank, shared his excitement, stating, “As we integrate the
FICO Platform into our operations at Axis Bank, we're already
witnessing promising outcomes. As part of our commitment to
elevating the credit card customer experience, we eagerly
anticipate moving to real-time decisioning for overlimit approvals
using richer customer data. A significant step towards a seamless
and efficient process.”
The implementation of the FICO Platform will enable Indian
enterprises to unlock invaluable insights, optimize operations, and
drive impactful commercial outcomes, aligning with the success of
our clients across the region and worldwide.
Abhijit Singh, Group Head – Banking as a Service (BaaS),
International Banking and Digital Ecosystem Banking at HDFC,
highlighted the transformative impact of FICO Platform,
stating, “At HDFC Bank, our mission was to simplify the home
loan process. the FICO Platform has proven to be an invaluable
asset. It's helped improve our straight-through processing rates,
resulting in an enhanced customer journey.”
This commitment to enhancing customer experiences is also
reflected in the success of AU Small Finance Bank,
headquartered in Jaipur, India. Their story stands as a testament
to the potential of the FICO® Platform. By embracing FICO's
technology, AU Small Finance Bank achieved an immediate and notable
30% increase in vehicle loan automation, revolutionizing lending
offers, and furthering its commitment to financial inclusion,
particularly for underserved and unbanked populations.
“In this era of rapid digital transformation, we are looking for
solutions that can drive a connection with our valued customers,”
said Mr Uttam Tibrewal, Executive Director of AU Small Finance
Bank. “Using the FICO Platform, we can deliver vehicle loans
faster and more accurately. This isn't just propelling our business
growth; it's also aligning with our financial inclusion objectives.
We're now planning to extend hyper-personalized lending solutions
across various products to a wider demographic, encompassing rural
customers and farmers, even those without conventional credit
histories.”
More information:
https://www.fico.com/en/fico-platform
FICO® Platform: Empowering Indian Businesses
The FICO® Platform offers several key benefits to banks and FSIs
in India:
Powering Customer Connections: The
FICO Platform empowers business leaders to tap into their market
knowledge and customer insights, enabling smarter choices, broader
collaboration, and faster learning cycles to create stronger
connections with customers.
Enabling Enterprise Transformation:
The FICO Platform enables organizations to optimize productivity
and output through seamless collaboration between diverse roles and
skillsets. Intuitive feedback loops drive high-performance through
continuous learning.
Driving Strategic Business Outcomes:
Ensuring alignment between IT projects and management KPIs is
critical to delivering successfully on business goals. The FICO
Platform allows management to translate strategy into operations,
significantly boosting effectiveness.
Rapid Time-to-Value: The FICO Platform
enables swift project implementation, measured in weeks rather than
the traditional 12-month timeline of on-premises solutions.
FICO® Platform: A Preferred Choice for Digital
Transformation
The FICO® Platform is gaining significant momentum in the
financial services sector, with many of the world’s leading and
most innovative banks selecting it as the core of their digital
transformation efforts. Organizations such as Lloyds Bank,
BMO, Bradesco, ANZ and many more have
all achieved outstanding business results with the FICO
Platform.
“FICO has achieved 16 consecutive quarters of year-over-year
growth exceeding 40 percent for the FICO Platform,” added
Kompella. “This success is attributed to our intensely
customer-focused innovation, setting us apart in the industry and
earning recognition from leading analysts.”
FICO was named as a leader by The Forrester Wave™: AI
Decisioning Platforms, Q2 2023 and received the Banking
Innovation of the Year Platinum Award in the Future Digital
Awards for Fintech & Payments 2023, presented by Juniper
Research.
Forrester Research: Prioritizing Customer Experience
A recent Forrester Consulting study commissioned by FICO on the
‘Current State of Advanced Analytics Adoption’ reveals that
three out of four industry decision-makers in India prioritize
improving customer experiences. Financial services firms that
leverage advanced analytics technologies experience increased
customer acquisition, improved profitability, and enhanced
compliance.
"In India, with 40% of the 1.4 billion population already using
digital banking, the trend toward online financial services is
clear,” said Kompella. “As more embrace digital banking,
institutions compete to enhance customer experiences, emphasizing
the benefits of AI, decision automation and business outcome
simulation."
Security, Speed and Scalability
The FICO® Platform operates on Amazon Web Services (AWS) and
boasts a multitude of features that set it apart from
competitors.
Security is prioritized with advanced
encryption protocols and stringent access controls, ensuring the
utmost protection of sensitive data.
Speed is delivered via the platform's
cutting-edge cloud infrastructure facilitating real-time processing
and analysis of vast data volumes, empowering businesses to make
informed decisions quickly.
Scalability, alongside its robust
computing capabilities, ensures that the FICO Platform empowers
enterprises to fully leverage artificial intelligence and advanced
analytics, helping them stay ahead in an increasingly competitive
market.
"The FICO Platform is all about helping businesses succeed and
making a positive impact on both the organization and its
customers," emphasized Kompella. "At FICO, we're proud to
bring applied intelligence to the Indian market to drive real value
and meaningful outcomes."
Reference Videos:
AU Small Finance Bank's Success Story with FICO Platform FICO's
Bangalore Brilliance: Crafting a Global Fintech Revolution |
Digital Transformation 2023
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, AI 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, manufacturing, 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 has been made available in over 40 other countries,
improving risk management, credit access and transparency.
Learn more at http://www.fico.com. Join the conversation at
https://twitter.com/fico & http://www.fico.com/en/blogs/. For
FICO news and media resources, visit www.fico.com/news.
FICO is a registered trademark of Fair Isaac Corporation in the
US and other countries.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231205848578/en/
Manasvi Srivastava The 23 Watts for FICO +91 8285171015
manasvi@the23watts.com
Neil Mirano RICE for FICO +65 3157 5680
neil.mirano@ricecomms.com
Saxon Shirley FICO +65 9171 0965 saxonshirley@fico.com
Fair Isaac (NYSE:FICO)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Fair Isaac (NYSE:FICO)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024