Fico (NYSE:FICO), a leading predictive analytics and decision management software company, today announced its partnership with transactional Big Data startup ERN.
ERN will embed FICO's marketing solutions within its real-time Big Data analytics platform Looop, giving marketers in financial services and retail the ability to execute highly personalized merchant-funded marketing strategies based on precise analysis of each consumer's preferences and needs. The partnership is initially focused on the financial services market in the UK, Europe and Asia.
Looop is a scalable, reliable and secure Big Data analytics platform that enables banks, acquirers and merchants to perform deep analysis of customer behavior on a micro and macro scale. The actionable insights that result can be used to create compelling relevant and timely offers that can be sent to customers through a mobile app in real-time. Looop is fully PCI and ISO 27001 compliant.
FICO Analytic Offer Manager uses predictive analytics and optimization capabilities to deliver highly personalized, relevant offers to customers at the moment they are most likely to act on them - maximizing the potential of the transactional data harvested by Looop. FICO Analytic Offer Manager enables precisely targeted offers based on both what and when a customer is most likely to buy. The analytics mathematically balance thousands of decision variables through optimization in order to inform offers that advance the business's strategic objectives while maximizing the relevance for the consumer.
FICO Customer Dialogue Manager is a multi-channel marketing platform that enables marketers to design, execute and manage precisely timed and targeted campaigns that engage customers across all channels based on their known interactions and preferences.
"FICO's predictive analytic solutions have proven to dramatically improve response rates from 2-3 percent to as much as 20-30 percent," said Don Peterson, vice president and general manager of Marketing Solutions at FICO. "We have chosen to work with ERN due to the superior Big Data technology and their shopping basket analysis capabilities provided by the Looop platform, as well as its vast scalability and real-time decisioning capability."
Dan Brassington, CEO and Co-Founder of ERN, said: "By partnering with FICO and embedding its Analytic Offer Manager and Customer Dialogue Manager into the Looop platform, we are in a position to offer marketers the most complete transactional Big Data analytics platform available for generating revenue from merchant-funded offers. Our completely scalable, reliable platform will enable us to help firms in the financial services and retail industries collect, store and analyze Big Data in order to create highly personalized value-added services for individual customers."