US Bank Priorities for 2013: Big Data, Customer Experience

I've been blogging about results from our latest quarterly survey of US bank risk professionals. This quarter, we took the survey in a new direction by also asking about business priorities in 2013. Two related responses tied for the top spot, each with 35% of respondents: utilizing Big Data analytics...

Even Risk Managers Put Customer Experience as Priority

92% of bankers surveyed at FICO World 2013 last week in Miami said improving the customer experience at their company is a high priority or the top priority. Given that the majority of those attending are in risk management, fraud and collections, this shows how serious banks are about regaining...

FICO World Video: “It’s All About the Customer”

At FICO World 2013, we caught up with FICO blogger Joanne Gaskin after she participated in a full day of sessions on mortgage lending, covering topics ranging from best practices to compliance challenges. Here, she shares her thoughts on the conference so far: For regular news and commentary from FICO...

FICO World Video: Mobility and Customer Engagement Emerge as Hot Topics

FICO World 2013 kicked off today in Miami, where more than 650 bankers, retailers and other business leaders gathered to explore the conference’s theme, Power Shift: Big Data Analytics and the Customer Revolution. The four-day conference features more than 80 presentations by FICO Labs experts and 60 organizations from around...

FICO World Preview: Fraud and Customer Engagement

Banks are struggling to rebuild customer trust, and the odds seem stacked against them. Just today, another set of research, this time conducted in the UK by Ipsos MORI, showed bank customers to be a very dissatisfied lot. Fewer than half of the people surveyed said they are happy with...

"I Hate My Bank But Love My Phone"

“Young people are distrustful, disengaged and disloyal towards their bank and are therefore more likely to switch between providers than older customers.” That’s how the Financial Times summed up Accenture’s new survey of more than 4,000 banking customers in the UK and Ireland. The percentage of respondents who think their...

Authentication is the New Currency

“How would you like to pay? Faster payment? Card? Paypal?” “Sterling? Euros? Dollars?” Whatever the payment means and whatever the denomination, there is increasingly one common acceptance requirement — one common currency, if you will — for payments: authentication. Acceptance depends on authentication of the channel, the device used where...

Challenging Assumptions About Consumer Deleveraging in the US

Conventional wisdom holds that US consumers have been deleveraging—either voluntarily or involuntarily—since the recession of 2008-2009. While there is ample evidence that many consumers have, in fact, been deleveraging for the past five years, does that mean that all consumer segments have done so? The data indicates that one large...

New Map Identifies US Card Fraud Hotspots

I’m excited to share that we’ve just released an interactive map showing debit and credit card fraud trends in the US. The map identifies the points of compromise—that is, where the actual theft of card and PIN data occurred—based on data from FICO® Card Alert Service, which analyzes more than...

The Great Consumer Releveraging of 2013 … or Not

As I’ve discussed previously, bankers seem to think years of deleveraging by US consumers will finally end in 2013. In our last quarterly survey of bankers, 61% of respondents said consumers will be applying for more new credit and trying to bump up the limits on existing credit accounts over...