Highlights:
- FICO announces the 2019 winners of the FICO® Decisions Awards. These awards established eight years ago recognize organizations achieving remarkable success using FICO solutions
- Winners in eight categories come from seven countries and span financial services, telecoms, transportation, pharmaceuticals and more
- Vodafone UK takes prize for transformation of customer on-boarding experience
- Entries for 2020 FICO® Decisions Awards to open in August
Today FICO is celebrating the achievements of its customers and their achievements with AI, machine learning and decision management. The winners of the 2019 FICO
® Decisions Awards can now be formally announced.
More information:
https://www.fico.com/en/fico-decisions-awards-2019
"The 2019 FICO Decisions Award winners have demonstrated what is possible with a clear business objective, innovative use of technology and a great partnership,”
said Nikhil Behl, FICO's chief marketing officer. “Our winners have innovated in lending, supply chain optimization, customer management, debt collection, fraud and financial inclusion. They come from all corners of the globe and many varied sectors of the economy. I congratulate them on their achievements and winning their categories in what was a very competitive line-up."
In the UK, Vodafone UK won in the Cloud Deployment category for transforming its customer onboarding experience using decision management technology in the cloud, enabling it to offer
24x7 support for all its channels. Deploying credit strategies has been
reduced by up to six weeks enabling it to implement changes in real time.
All winners
- AI, Machine Learning and Optimization: Bank of America and Grupo Fleury
- Cloud Deployment: ACT, Vodafone UK and SA Taxi
- Customer Onboarding & Management: Banreservas
- Debt Management: Swisscard AECS GmbH
- Decision Management Innovation: Procter & Gamble
- Financial Inclusion: Home Credit China
- Fraud & Security: PULSE, A Discover Company
- Regulatory Compliance: BNSF
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions.
AI, Machine Learning and Optimization
Grupo Fleury, one of Brazil’s largest diagnostic medical companies, has further refined its demand planning management tool to optimize its operations and reduce the time taken to create sales forecasts
from one month to half an hour, driving relevant opportunities to create value.
Cloud Deployment
ACT, best known for its flagship college entrance exam, has optimized its test assembly process in the cloud, reducing the time required to assemble tests from
2-4 weeks to 2 days. This allows ACT to serve over
40,000 concurrent examinees with latency below
half a second per test item.
SA Taxi, a financier of over 10 percent of South Africa’s minibus taxi fleet – the nation’s most affordable public transport – has introduced FICO’s cloud-based decision management solution to
drive lending growth of 25 percent.
Customer Onboarding & Management
Banreservas, the largest bank in the Dominican Republic, has centralized and automated its credit origination processes, enabling it to assess
80 percent of its loans automatically, increase loans processed by 30 percent and offer up-sells to 47 percent of approved applicants.
Debt Management
Swisscard AECS GmbH, a leading credit card company in Switzerland, has optimized its early collections, leading to a
50 percent increase in revenue from billable collection expenses,
a 40 percent reduction in net credit losses and a 30 percent reduction in account terminations.
Decision Management Innovation
Procter & Gamble (P&G), has optimized its consumer product transitions,
saving it millions of dollars and allowing it to reduce time spent on initiative planning. The supply chain innovation has boosted analytic efficiency 90 percent, reducing the weekly analysis time to less than five minutes.
Financial Inclusion
Home Credit, a global non-bank consumer lender, has
reduced its credit risk on point-of-sale loans
by 25 percent and online loans
by 15 percent while maintaining loan volumes and keeping approval rates steady by incorporating the FICO
® Score X Data to optimize its loan process in China.
Fraud & Security
Discover’s PULSE Network, one’s of the USA’s leading debit/ATM networks, has dramatically improved its fraud detection, blocking
30 percent more fraud, increasing the value-detection rate 40 percent and improving the false positive ratio by 25 percent.
Regulatory Compliance
BNSF Railway, one of the largest freight railroads in North America, has optimized its management of assigned train crews, allowing it to
significantly reduce operational costs while complying to all union, industry and company regulations.
These results were identified as best-in-class by a panel of
independent judges with deep industry expertise. We thank the 2019 judges for their help in identifying the best nominations.
The winners of the FICO
® Decisions Awards will be spotlighted at various FICO events in 2020 and win tickets to
FICO® World 2021, the Decisions Conference, April 2021 in Orlando, Florida.
Entries for the 2020 Awards will open in August this year. 