Source: Fair Isaac
Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, announced today that The Hongkong and Shanghai Banking Corporation Limited (HSBC) will utilize Fair Isaac's proven software technologies, analytic models and development processes for Enterprise Decision Management (EDM).
The integrated solution will help HSBC grow its ability to optimize profitability across the bank's consumer lending portfolios, and support its long-term growth objectives in the Asia-Pacific region.
To build upon rapid growth of its credit card portfolios and strengthen its leadership in Asia Pacific's booming consumer lending market, HSBC required a highly scalable solution to roll out optimized decision strategies across products, countries and decision areas. Fair Isaac will deliver its proven Strategy Science methodologies embedded in its suite of analytic solutions to help HSBC fundamentally improve the way the lender processes critical decisions across the enterprise.
"We needed a robust, scalable and flexible optimization tool and process to efficiently develop optimized strategies that satisfy HSBC's overall business objectives and can be customized to each local business," said Vernon Smith, Head of Asia Pacific Consumer Credit & Risk at The Hongkong and Shanghai Banking Corporation Limited. "Fair Isaac's Strategy Science Framework provides the tools, methodology, experience and process to help HSBC resolve these critical challenges and achieve our growth and profitability goals with the lowest possible risk."
"As a visionary company, HSBC was among the first to successfully apply Fair Isaac's Strategy Science to make profitable customer decisions," said J.Y. Pook, vice president and managing director, Asia Pacific at Fair Isaac. "This robust set of methodologies and decision analytics will deliver a significant competitive advantage and play a critical role in HSBC's strategic vision to achieve Enterprise Decision Management across its Asia-Pacific operations."
Using Fair Isaac's Strategy Science Framework and software platform for model development and strategy deployment, HSBC plans to accelerate its deployment of optimization projects to drive immediate bottom-line benefits across Asia. For the long term, HSBC will use the solution to enhance its in-house optimization capabilities and ultimately develop and deploy optimized strategies across six products and 20 countries and territories in Asia for more than 10 decision areas across the customer lifecycle.
Leveraging Fair Isaac's extensive experience gained since the introduction of its Strategy Science methodology in 2001, Strategy Science Framework for Credit Line Increase represents the latest innovation that enables organizations to access Fair Isaac's decision modeling, optimization methodologies and tools for the development of their own "optimization factory."