Tech firm FICO has announced Czech retail bank Ceska Sporitelna is to use FICO optimisation tools to increase profit and improve its loan approval process.

A subsidiary of Austria’s Erste Bank Group and the largest Czech bank with more than 5m clients, Ceska will use FICO’s tools to maximise the portfolio profit from its cash loan portfolio.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

A major focus for Ceska is the improvement of its "pre-approved" loans decision strategy for existing customers.

This defines the best terms and conditions to offer customers for a consumer loan, ensuring loan amounts and prices are balanced against customer preferences and portfolio objectives.

Ceska plans to begin testing the new strategy this summer.

The bank will use the FICO Decision Optimiser, a business analyst tool that simulates the effects of different decision strategies for future projects.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Petr Kapoun, head of risk at Ceska Sporitelna, said "Innovation has always been an important driver for our success. In retail banking we are the market leader, holding about 30% of market share in almost all major product segments.

"The new solution enables us to further strengthen this position by adapting offerings to meet our customers’ individual needs.

"The FICO solution convinced us because it uses comprehensive simulations that show the effect of different strategies on KPIs, providing insights into the profit driver of our portfolios."

 

Related to:

Consumers want more from mobile banking – FICO

Erste Bank Hungary launches new mobile payment app MobilePay