FICO to boost cash loan portfolio for Slovenská sporiteľňa

By Megha Bhattacharya

Slovenská sporiteľňa, a commercial bank in Slovakia, has selected FICO Decision Optimizer to increase profitability and improve portfolio management for its cash loan portfolio. Using FICO’s advanced AI-powered optimization, the bank will develop data-driven lending strategies to systematically improve results. Slovenská sporiteľňa is part of the Erste Group, one of the largest financial services providers in Central and Eastern Europe, which serves more than 16 million customers in seven countries.

“As a digital banking leader in Slovakia we are looking forward to this cooperation,” said Zdeněk Románek, member of the Board of Directors of Slovenská sporiteľňa responsible for retail banking. “We value not only the power of the FICO optimization algorithms and software but the way they will enable our data scientists and our portfolio management team to collaborate on designing, executing and managing new strategies for the business.”

FICO Decision Optimizer, part of the FICO Platform, supports the entire lifecycle of designing, developing, executing and deploying decision optimization technology. Its advanced decision impact modelling, simulation and optimization techniques allow lenders to discover better decision strategies that balance trade-offs between cost, risk and reward, while also factoring in economic and market conditions.

“Slovenská sporiteľňa, as the lending leader in Slovakia, is advancing the use of mathematical optimization to transform lending,” added Steve Hadaway, EMEA general manager for FICO. “This is the application of advanced data science to navigate a universe of possible strategies and identify the most successful, based on multiple constraints and objectives. For a complex lending market like the one today, optimization has become an essential tool.”

Recently, FICO announced that Switzerland’s PostFinance has selected the FICO Falcon Platform, the AI-powered payments card protection system. PostFinance will use the Falcon Platform to manage suspicious behavior on customers’ accounts, including activity that may be the result of scams, which are increasing across Europe during the pandemic. The FICO Falcon Platform is designed to adapt fraud defenses in real-time, across all channels and payment types, with each transaction.