Information solutions
vendor Equifax and FICO, the predictive analytics and decision
management technology provider, have lost no time in launching
their first joint offering for the UK market.

On 2 June, the firms
announced an enhancement in the UK market to FICO TRIAD Customer
Manager that integrates Equifax’s Customer Insights
service.

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In May, Equifax and FICO
entered into a new partnership in the UK with the aim of
challenging the status quo in the risk management
arena.

At the time,
the firms said that a series of announcements would kick off in
June, regarding initiatives to be rolled out by the Equifax, FICO
alliance; a new website at www.efxfico.com launched in
mid-May.

The firms said that the
first joint product initiative will enable lenders and card issuers
to improve predictions of customer risk and behaviour and make more
profitable credit management decisions.

In particular, with the
addition of Equifax’s Customer Insights offering, banks, card
issuers and retailers using FICO TRIAD Customer Manager will now be
able to integrate a comprehensive range of customer-level data into
their credit decision strategies.

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They will also be able
to create customer-level scores.

FICO said that more than
90% of cards issued in the UK are managed using FICO
TRIAD.

The challenge of
aggregating the source data at the customer level can require
thousands of staff hours – taking some banks years to
complete.

The firms said that the
Customer Insights software can shorten the process to between three
and six months.

Shawn Holtzclaw,
managing director, Equifax UK, said:

“The integration of
Equifax Customer Insights with FICO TRIAD Customer Manager was an
obvious opportunity to build upon our alliance with FICO to serve
our customers better.”