Welcome!

News Feed Item

Ceska Sporitelna Will Use FICO Analytics to Optimize Offerings for Existing Customers

-- FICO assists largest Czech retail bank in analytically creating credit offers in line with customer needs

MUNICH, March 20, 2014 /PRNewswire/ -- FICO (NYSE:FICO), the leading provider of predictive analytics and decision management technology, today announced that Ceska Sporitelna will use FICO optimization tools and methodologies to maximize the portfolio profit for its cash loan portfolio. The strategies will provide optimized offers with respect to lending amount and price for both existing and new customers. Ceska Sporitelna is the largest Czech retail bank and a subsidiary of Austria's Erste Bank Group.

Logo - http://photos.prnewswire.com/prnh/20111010/CG83314LOGO

One major focus for Ceska is the optimization of its "pre-approved loans" decision strategy for existing customers. This defines the best terms and conditions to offer each customer for a consumer loan, ensuring loan amounts and prices are balanced against customer preferences and portfolio objectives. Ceska plans to start testing the new strategy this summer.

"Innovation has always been an important driver for our success," said Petr Kapoun, head of risk at Ceska Sporitelna. "In retail banking we are the market leader, holding about 30 percent of market share in almost all major product segments. The new solution enables us to further strengthen this position by adapting offerings to meet our customers' individual needs. The FICO solution convinced us because it uses comprehensive simulations that show the effect of different strategies on KPIs, providing insights into the profit drivers of our portfolios."

The ability to simulate the effects of different decision strategies will enable Ceska to better balance take-up rates with risk and profit. To achieve this goal, FICO experts have built several decision models, and delivered optimized strategies and training to the internal analytics team on FICO® Decision Optimizer, the tool the bank has also chosen for future optimization projects. This powerful, flexible, easy-to-use software provides an offline scenario analysis and optimization environment that can quickly output decision strategies ready for implementation into the bank's existing systems. As FICO Decision Optimizer supports the whole customer lifecycle, Ceska Sporitelna will be looking to develop decision models for other products and decisions.

"The retail banking market in the Czech Republic has reached a new phase of maturity," said Phillip Sertel, who oversees FICO's operations in DACH, Central and Eastern Europe, and the Middle East. "This means that customer service, precise calculations and segmentation, and fine-tuned risk management are keys to success."

FICO® Decision Optimizer is a business analyst tool that accelerates the creation of optimized decision strategies. Its models incorporate multiple scorecards, projections of potential actions and customer reactions, and multiple business objectives and constraints.

About Ceska Sporitelna
With more than 5 million clients, Ceska sporitelna is the largest bank in the Czech market by number of clients. The roots of the bank reach back to the savings bank Ceska sporitelna which was founded in 1825. The tradition of a Czech savings institution was continued in 1992 by Ceska sporitelna as a joint-stock company. In 2000, Ceska sporitelna became a member of Erste Group, one of the leading financial providers in Central and Eastern Europe with 17 million clients in eight predominantly EU-member countries. Within the next eighteen months, Ceska sporitelna successfully completed its transformation – a transformation that aimed at improving all key areas of the bank. Since then, Ceska sporitelna has been continuing the improvement of its products and services, and at the same time has been making work processes more effective.

About FICO
FICO (NYSE: FICO), formerly known as Fair Isaac, is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.

For FICO news and media resources, visit www.fico.com/news.

FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busi...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. That ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...