Managing Predictive Models (video)

Banks can increase the value they get from their predictive models by changing the way they manage those models. New OCC and Basel regulations make improving model management more important than ever. Hear more on this topic from Mike Gordon, FICO vice president and banking practice manager, in this Tech...

Know Your Customer – Hot Topic for APAC CRO Forum

As you heard from fellow blogger Dan McConaghy, FICO recently partnered with IDC to host what is probably the biggest gathering of banking CROs in Asia Pacific. A hot topic at the FICO APAC CRO Forum was customer profitability – how to expand existing customer relationships whilst offering superlative customer...

Inextricably Linked, for Better or for Worse

Last week, more than 30 senior risk officers from 12 countries across Asia Pacific gathered at the second annual FICO APAC Chief Risk Officer Forum in Bali, Indonesia. Hosted by FICO and moderated by IDC, the forum provided a venue for us to have an in-depth discussion around what’s ahead...

Credit Reports ≠ Credit Scores

More than ever, consumers are interested in their credit scores and credit reports. They ask questions when banking, paying bills online and shopping for a loan. This puts pressure on lenders to equip their employees with good answers to such questions. (myFICO.com is one source for those answers.) Unfortunately, this...

Celebrating fraud innovation

I'm proud to announce that FICO® Falcon® Fraud Manager 6 Analytics was named a finalist in the CONNECT Most Innovative New Product Awards, in the software category. This accolade was driven by the analytic innovations that I often blog about here, including: Adaptive Analytics, which are reducing account false positive...

Adapting to New Interchange Rules on Debit Cards

Regulatory challenges were clearly top of mind for the 700 banking clients that gathered at last month's FICO World conference. One of our most highly rated regulatory sessions was the panel we convened to discuss the new debit interchange rule, defined in the Durbin Amendment under Dodd-Frank. The panel brought...

Despite Basel sticker shock, banks soldier on

A new study by the Boston Consulting Group finds that banks globally face a $450 billion (€350 billion) Basel III shortfall, as reported today in the Financial Times. According to the study, banks in Europe have the biggest gap, more than half of the total. While stunners like this make...

China's economy 'faces growth challenge' in the future (BBC video)

China's leaders are meeting this week to discuss ways to ensure the economy maintains its pace of growth despite the global economic slowdown. Data released on Monday showed November exports increased by just 13.8%, the slowest pace of expansion since February this year. China's manufacturing sector also contracted in November...

Score differences across credit bureaus reflect true data differences

I recently had the pleasure of speaking at the Philadelphia Federal Reserve Bank’s Community Development Studies and Education Department’s conference “The Impact of Workout Options on Borrower’s Credit Reports and Scores.” The conference was well attended by regulators, lenders and consumer credit and housing counselors. FICO’s research on the score...

Peru poised for banking growth

After decades of very low banking penetration, the Peruvian banking market appears to be poised for growth. Up to now, around 70% of Peruvians have been outside of the official banking system, making banking penetration one of the lowest in Latin America. Why? Few have a regular job, and most...

Mobile Fraud: Q&A with Aite Group

As financial crime continues to expand and evolve, FICO interviewed Aite Group fraud analyst Julie Conroy McNelley about emerging threats in mobile banking security. Julie recently participated on the FICO World analyst panel on “Enterprise Fraud Management” and just published “Mobile Fraud: The Next Frontier,” a report based on Aite’s...

Webinar: Best Practices in Analytics and Model Validation

Next week, FICO will host free webinars that share best practices in analytics and model validation. With the proliferation of models used in financial services, and today's tightly regulated and volatile markets, organizations must reassess how well models are being strategically applied and how well they're being managed. In addition,...

Collections provides wins for mobile banking

Digital strategies are revolutionizing collections performance today. Using mobile banking as a channel for collections makes customers feel like the communication is personal, and gives them choices over their payment terms. The results don’t lie: As noted by Telrock CEO Russell Robinson in a presentation we gave at FICO World...

Regulatory survey: complexity and frequent change are top concerns

The following guest post was written by Michelle Katics, CEO of BankersLab. What regulatory risks are you facing in the next 12 to 18 months? This question was posed to hundreds of FICO World attendees and colleagues in a recent regulation survey conducted by FICO and myself. Top concerns were...