Customer centricity and the halo effect

Many FICO clients are seeing benefits from customer-level decisioning. But some of the impacts are a bit tricky to quantify. One of these is the so-called “halo effect.” It’s intuitive that customers who have a good experience with one type of account are likely to be more receptive to offers...

Fighting Enterprise Fraud

Increasingly banks are looking to leverage the full breadth of data related to customers to make better decisions, and fraud is no exception. There is a strong desire to break down silos, so fraud/risk behaviors in one area of the customer’s interaction with the bank can be utilized in other...

Customer Profitability - what are the best practices?

Managing customers better has been a hot topic lately with our Asia Pacific clients. Originating a new account is a costly process, so ensuring we build long-term customer loyalty and satisfaction is sound business practice. Also, there is a ‘halo’ effect for customers that have multiple products with us –...

The hidden cost of fraud

Traditionally, fraud losses are measured by looking at fraud transaction dollar losses and operational costs. But institutions should begin to pay more attention to reputation and loss of confidence—often the “hidden” costs of fraud. While it's true that these costs are less obvious and harder to measure, that doesn't mean...

Leveraging the deposit relationship

This is a period of cautious growth for banks, and there’s no safer way to extend more credit than to start with your good customers. That’s why we see banks focusing more and more on the customer experience and taking decisions at the customer level. That means leveraging the deposit...

New survey reveals top fraud threats and vulnerabilities

What are the top fraud threats to financial institutions? How are they fighting back? New results from our Faces of Fraud Survey provides some answers—and a few surprises. The survey, conducted by ISMG and sponsored by FICO, polled hundreds of financial institutions, primarily banks but also credit unions and payment...

Why the holistic customer view is even more critical

Dodd-Frank is just the latest in a succession of game-changing regulations that have rocked the financial services industry over the past two years. For banks to be profitable in the new financial landscape, they’ll need to manage customers more holistically. Customer retention is going to be key, and it won’t...

Welcome to the FICO Banking Analytics blog — why are we here?

- Posted by Tom Quinn, FICO® Score Product Manager Today's bankers are information junkies. We should know - as the creators of the FICO® score and other predictive analytics solutions, we are constantly providing our clients with new research and insights into credit trends. We created this blog to share...