back Back

FICO selected by Turkey’s Akbank for decision optimization capabilities

By Edil Corneille

November 17, 2020

  • FICO
  • Turkey
Share

FICOGlobal analytics and decision management provider FICO is providing decision optimization software to manage the growing consumer credit card portfolio for Turkish retail bank – Akbank.

FICO is said to have a global pedigree in credit limit management optimization projects and financial institutions globally use its optimization technology. Akbank will tap into this depth of experience to create an optimization centre of excellence. Akbank has tasked FICO to train an in-house team so they can build their own applications for other areas such as loan amount and pricing optimization, customer-based limit optimization and restructuring optimization.

FICO will configure and develop sophisticated “action-effect” models for Akbank’s retail lending team using the FICO® Decision Optimizer to manage their initial credit limit assignment and the on-going limits for Akbank’s consumer credit card portfolio. The action-effect models project customer responses to offers in order to determine the best offer for each customer. These will be configured into the optimization framework, allowing the Akbank team to choose an operating point that meets their objectives and constraints.

Serhan Pak, Akbank’s senior vice president, Retail Lending, said: “We view optimization as a strategic tool for Akbank, as we build on excellence in credit analytics to reach our strategic goals. The robustness of FICO’s analytic technology and the fact that their optimization applications are in use worldwide made them a natural choice for us.”

Emre Unlusoy, regional director for Turkey & Balkans at FICO, said: “Akbank is aiming to improve profitability, market share and revenues while decreasing non-performing loans. This is an ideal use of optimization, which brings together analytics, decision logic, mathematical optimization and domain expertise.”

FICO® Decision Optimizer enables business analysts to develop, assess and improve the decisions that drive customer interactions and business results. Users can test decision strategies for the optimal results that balance trade-offs between cost, risk and reward, by factoring in dynamic economic and market conditions.

Akbank has grown to over 750 branches and employs more than 12,000 people.

Previous Article

November 17, 2020

4 U.S. based FinTech companies transforming small business lending

Read More
Next Article

November 18, 2020

NBK launches new digital account opening service

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

FICO

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

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

Today

HSBC & Geidea to launch Omni Collect e-commerce payment solution in the UAE

Read More

Today

NeoFinity launches ‘NeoZAP’, a premier payment tag in India

Read More

Today

Lianlian DigiTech secures EMI license in Luxembourg

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