back Back

FICO to boost cash loan portfolio for Slovenská sporiteľňa

By Megha Bhattacharya

June 28, 2021

Share

FICO, Fair Isaac, San Jose, CA, California, Biometrics, bankingSlovenská 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.

Previous Article

June 28, 2021

BIS and Bank of Italy announce the G20 TechSprint shortlist, and judges

Read More
Next Article

June 28, 2021

Voyager raises US$167 mn for PayMaya’s expansion into digital banking

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

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

July 16, 2024

TISA goes live with Oracle’s core banking system, Flexcube 14.7

Read More

July 16, 2024

Thinslices partners with SaaScada

Read More

July 15, 2024

Thought Machine and Quantifeed partner to modernize banking

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
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 2024