Fico (NYSE:FICO), the leading provider of analytics and decision management technology, and China UnionPay Data Services (CUP Data), the leader for outsourced payment services in China, today announced an agreement to offer the industry-standard credit account and customer management solution to banks across China.
Through this partnership, CUP Data will offer Fico Triad Customer Manager, along with FICO's proven analytics for risk and collections, at the point of processing, improving risk management and profitability while eliminating the up-front investments of time and money normally associated with software, hardware and implementation.
"Against the backdrop of explosive growth, the Chinese banking industry needs account management and analytics solutions that will enable sustained profitability," said Mark Greene, chief executive officer at FICO. "Through this partnership, we'll provide those solutions on-demand, saving CUP Data subscribers precious time and money, and providing them with a valuable competitive advantage in the process."
FICO® TRIAD® Customer Manager, the industry's leading account management solution, enables banks to maximize revenues and minimize losses across multiple lines of business by accurately predicting risk and automating targeted treatments. It also allows them to develop more effective competitive strategies that strike the right balance between risk management and customer satisfaction, using breakthrough strategy design and visualization capabilities.
In addition to being able to implement FICO TRIAD Customer Manager and analytics at the point of processing, CUP Data subscribers can choose to participate in a data consortium to gain additional valuable analytic insight. The benefits of this can be significant, as evidenced by the reduction in fraud losses experienced by banks participating in the FICO Fraud Consortium.