Take advantage of that Magic Moment!

For any customer, the moment he or she decides to enter into a relationship with your organization — or modify an existing relationship — is a Magic Moment! This is a moment when the customer has identified their need, made the decision to fill that need, and given you the...

The “new normal" of consumer behavior

What does the “new normal” of consumer behavior look like in the wake of the economic crisis, and what are the effects on consumer credit risk? It’s a subject I was invited to discuss by the Kellogg School of Management at Northwestern University at their recent Risk Summit. Other speakers...

100 patents that changed banking

FICO has just hit a major innovation milestone — we have now been granted 100 patents over the past 20 years. You can read the news release and watch a FICO Tech Talk, but I’d also like to point out the significance of these patents in financial services alone. These...

Smarter Customer Management Strategies for APAC Banks

What are today's customer management best practices? It's become a topic of increasing interest from our clients in the Asia Pacific region, so we invited interested bank executives to listen to the head of unsecured risk at a top Australian bank (a FICO client) over breakfast at the China Club...

Risk Managers Say: Delinquencies Expected to Remain High

Wonder about the consensus opinion of your peers regarding future delinquencies on consumer credit? Well, we have some fresh data for you based on the results of our Q4 survey of U.S. bank risk officers. When asked about expected delinquency rates for credit cards, residential mortgages and car loans, survey...

What will consumer spending look like this holiday season?

A recent myFICO® survey of US consumers sheds light on consumer spending plans and concerns for the upcoming holiday season: Biggest financial worry going into 2011: Almost 40% said credit card debt. Holiday credit card spending: Almost half expect to charge an average of $100-$500 more than usual on their...

What the GRINCH thinks about debt

Are younger borrowers taking a different stance towards repayment? There’s certainly evidence that this is the case, as we discussed the FICO Forum: The New Normal held in London on 16th November. In fact, there’s even a term for it: GRINCH refers to Generation Recognised in Need of Credit Help....

Has Chip and Pin Cracked the Fraud Nut?

Card fraud trends in the UK are beginning to show the sort of results that validate those who have held up “chip and PIN” as a modern-day success story. At the FICO Forum: The New Normal in London on 16th November, we had a lively discussion about the lowest UK...

Risk Managers Say: Getting Credit Won’t Get Easier Yet

We just announced the results of our quarterly survey of U.S. bank risk officers. It looks like the “credit gap” facing consumers and small businesses isn’t going away anytime soon. Each quarter, we ask hundreds of bankers a series of questions about their expectations for the upcoming six months. In...