back Back

FICO and Atto partner on Open Banking integration for UK lenders

By Gloria Methri

April 11, 2024

  • Atto
  • Atto Open Banking
  • Credit Risk Decisioning
Share

FICO, Atto, Real-Time Transactional Data, Open Banking, Credit Risk Management, UK, FinTechAtto, a provider of credit risk solutions using transactional data, has partnered with FICO, a global analytics software specialist, for the UK market. This partnership will enable UK lenders to integrate Open Banking data into the credit scoring process easily.

Atto and FICO are combining their expertise to deliver transaction-based scores that rank-order consumers’ risk by analysing up-to-date current account and tradeline transaction data.

The combination of Atto’s Open Banking technology and FICO’s expertise in transaction data analytics can provide lenders with predictive models built on Open Banking data for more targeted risk decisioning. Both companies have extensive experience with Open Banking data; FICO has built scoring models using Open Banking data for other markets since 2018.

“We are excited to join forces with FICO to bring transaction-based predictive models to the forefront of the credit risk industry,” said Clare McCaffery, CCO at Atto. “Risk managers can leverage these scores informed by Open Banking transactional data, giving them a to-the-second view of their customers.  We are delighted to be pushing the world of credit risk forward alongside FICO.”

The Atto Open Banking score, developed by FICO, can enable lenders to enhance their risk management strategies and drive greater efficiency in lending processes. By leveraging up-to-date Open Banking transaction insights, lenders can improve customer acquisition, manage portfolios to greater performance, and mitigate risks to achieve sustainable growth.

“This partnership represents a powerful combination of industry-leading expertise and cutting-edge technology, which can dramatically improve UK lenders’ ability to serve their customers with the right products and offers,” said Alexandre Graff, global head of Global Partners & Alliances at FICO. “Together, Atto and FICO are committed to empowering lenders with the tools they need to compete and grow their business.”

Previous Article

April 11, 2024

GBST & Luna Partners to develop digital private equity technology platform

Read More
Next Article

April 11, 2024

Flagright & Nodabank join forces to boost digital banking security

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Atto

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

The Weekly Wrap: all you need to know by Friday COB | May 17th

Read More

May 17, 2024

M&T Bank taps nCino & Rich Data Co. to manage credit risk and loan performance

Read More

May 16, 2024

Tandem appoints Suavek Zajac as new Chief Technology Officer

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023