India's Axis Bank deploys Fico Blaze Advisor for cards and loans BPM
29 February 2012 | 2055 views | 0
FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that Axis Bank, India's third-largest private sector bank, has chosen FICO® Blaze Advisor® business rules management system to manage processing of all retail loans and for customer management on its credit card portfolio.
This sets the stage for Axis Bank to establish a common decision platform among different business units and credit lifecycle stages based on FICO's decision management technology.
Axis Bank wanted to decrease its turnaround time for deploying new scorecards and decision strategies. The bank also wanted to improve consistency and scalability in its business processes across its different regions, while having a robust audit mechanism to track changes. FICO® Blaze Advisor® resolves these issues, providing a common, central platform for managing analytics and strategies and enabling quick deployment of new strategies and analytic models. Moreover, because Blaze Advisor is designed to allow business users to create and modify rules without relying on IT support, it will accelerate time to market for business decisions. The bank chose Blaze Advisor following a rigorous competitive review. Axis Bank has been using FICO's application risk scorecard in its personal loan business.
"FICO Blaze Advisor will give us the ability to be more responsive to market changes, while making more consistent decisions," said Jairam Sridharan, Head of Consumer Lending, Axis Bank. "In addition, we can centralize management of our strategies, and deploy new predictive analytics faster than ever before. Ultimately, we expect to be more streamlined and more competitive by building a common decision platform for originations, customer management and collections."
"With this engagement, Axis Bank joins a rapidly growing group of FICO Blaze Advisor rules customers, which include India's largest private sector bank and top NBFCs and insurance companies," said Dan McConaghy, president, FICO Asia Pacific. "FICO's implementation capabilities and extensive partner network in India will ensure that Axis Bank can get the maximum value from their investment, through both successful project execution and ongoing local support."