Portugal’s largest private-sector lender,
Millennium BCP, has increased automated loan decisions from 8% in
2000 to 91% in 2012 by using software solutions by analytics and
decision management technology vendor FICO.

Currently, Millennium BCP approximately
automates 128m decisions a year, on the retail banking side, using
FICO solutions.

Millennium BCP “required a more systematic way
to make decisions as it pursued growth across Europe and Africa”,
according to the lender.

The partnership between Millenium BCP and FICO
allows deployment of automated processes and standards for
“efficient origination and customer management decisions” on
various products across multiple countries.

Using FICO solutions, Millennium BCP has
“improved client satisfaction and increased the use of account
information to make faster and more accurate risk forecasts”
alongside increasing revenue from fees and interest, more
efficiently underwriting and debt collection, lowering provisions
and customer churn rates, and targeting customers more precisely
with credit offers.

Millennium BCP also uses a suite of other FICO
solutions, including FICO TRIAD Customer Manager, FICO Capstone
Decision Accelerator and FICO Model Builder.

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.

Antonio García Rouco, general manager of FICO
for Western Europe said:

“With our solutions, Millennium BCP can turn
customers who only use their current accounts for deposits and cash
payments into clients with credit products that are more
profitable.”

Millennium BCP has over 2.5m customers and a
network of more than 882 branches across Portugal.