Russia’s Touch Bank, a retail online bank of the international financial group OTP, has implemented FICO’s technology platform, FICO Model Builder, to offer customized banking services.
The FICO Model Builder platform accelerates Big Data analysis to derive accurate customer insights. It operates in real-time, processing all client data automatically in FICO Blaze Advisor decision rules management system.
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FICO Blaze Advisor and FICO Model Builder are both components in the FICO Decision Management Suite, a technology platform that enables businesses to evaluate, customize, deploy and scale analytics and decision management solutions.
Under the deal, FICO will build a new financial services platform for the bank, which will driven by customer insights derived from multiple Big Data sources, not just credit history.
Also, once all basic technology elements supporting Touch Bank’s card-based product offering are implemented, a customer will be offered a range of personalised financial services they can use at their discretion at any time, activating or deactivating any financial product, according to FICO.
Also, the bank can set a credit limit with a personalised rate to match an individual borrower’s profile or offer more favorable repayment terms.
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