Banco Original, a Brazil-based bank which offers a 100% digital checking account, has selected FICO as partner to launch its digital platform.

The bank selected FICO following a competitive process that ran for five months and involved issuing RFPs, proofs of concept and pilot tests.

Banco Original IT Superintendent Alexandre Pinelli said: “Our customer contact is 100% digital. We require solutions and technologies that allow us to assess a customer’s profile in our digital process so that we may take the right decisions as fast as possible.”

Solutions Banco Original deployed:

The Brazilian lender has selected FICO Origination Manager to carry out credit operations and FICO Application Fraud Manager to strengthen fraud-prevention capabilities.

During opening a bank account, Banco Original systems procure all information forwarded by the customers. It also acquires external data from credit bureaus.

This information is processed by FICO decision engines in real time to facilitate operations as well as mitigate fraud risks.

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The deployment of FICO solutions also streamlined credit-granting procedure complying with bank’s scope and customer profiles.

Pinelli added: “We believe that we offer the most comprehensive service portfolio among digital banks.

“We offer checking accounts, cards, loans, investments, insurance and pension plans. We have a very clear roadmap of the development of our products and services.”

Gradually, the bank aims to improve its processes by leveraging artificial intelligence, neural networks and machine learning technologies.