Bank of Commerce Philippines is using FICO’s decision
management and analytics solutions to manage risk better and drive
profitability in its newly launched consumer credit product
line.
Bank of Commerce established a consumer
banking division in 2010 and has begun introducing personal loans,
credit cards, mortgages and auto loans.
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Adopting the new solutions by the global
analytics and decision management technology vendor FICO is aimed
at enabling Bank of Commerce to develop the management skills to
apply scoring solutions effectively and manage credit portfolios
profitably.
Bank of Commerce plans to specifically use the
FICO Blaze Advisor business rules management system with the
aim of designing and making operational its origination, decision,
and customer management strategies, as well as four advanced
scoring models, to evaluate customer creditworthiness and manage
risk.
Leah Castañeda, vice president and consumer
lending division head at the Bank of Commerce, said, “Consumer
banking is a new market for us, and we wanted to enter it in the
strongest possible position.”
“With FICO’s technology and strategy
consulting expertise, we have a powerful and reliable underwriting
solution to help us mitigate the risks inherent in this venture, as
well as a strong differentiator against our competition.”
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By GlobalDataThere are estimated to be fewer than 10m
credit card users in the Philippines, but that number is expected
to grow rapidly over the next year.
Bank of Commerce has 122 branches across the
Philippines.
