20 July 2018
Visit www.gemalto.com

Russia's Bank Renaissance Capital deploys Fair Isaac's CapStone Decision Manager

26 July 2005  |  1044 views  |  0 Source: Fair Isaac

Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, today announced that Bank Renaissance Capital, a consumer finance division of Russia's leading investment bank, is utilizing Fair Isaac's Capstone Decision Manager to make more efficient, reliable automated credit risk decisions for its consumer loan portfolio.

The agreement with Bank Renaissance Capital marks the first implementation of Fair Isaac's high-performance platform for new account decisions and processing in Russia. The bank chose Capstone Decision Manager to support its new consumer finance initiatives, including the processing of remote applications for installment credit on unsecured merchandise, such as electronics products, credit cards, auto loans and general purpose loans.

Capstone provides the workflow, database management and decision management framework for Bank Renaissance Capital's origination decisions. It is designed to increase processing flexibility and efficiency, improve the quality of credit decisions and lower the costs associated with processing applications.

"Bank Renaissance Capital needed a flexible, scalable system that would help us make consistently intelligent decisions at the individual customer level," said Fernando Silva, director of Risk at Bank Renaissance Capital. "With Fair Isaac's Capstone Decision Manager, we can optimize what we know about the individual needs and preferences of our customers and use that information to make customized offers, while controlling risk and increasing profitability. In addition, the ease and speed of implementation and localization in the Russian language made the product the right choice for us. Capstone provides a flexible platform to deal with the complexity of managing risk in Russia, which allowed us to expand the business profitability into more than 300 retailers in 27 cities across Russia in less than one year of operations."

The Russian consumer finance market is growing rapidly. Last year, the volume of issued consumer credits more than doubled to reach RUR300 billion (approximately $10 billion). According to the Russian Central Bank, retail lending to private citizens hit $15 billion by mid-2004, a 50 percent increase in six months, and up from just $1 billion since the start of 2000.

"Bank Renaissance Capital's selection of the Capstone solution is in direct response to increasing demand for retail credit in Russia," said Robert Duque-Ribeiro, vice president of International Sales at Fair Isaac. "Our origination offerings are uniquely positioned to help leading financial service providers such as Bank Renaissance Capital grow profitably. We look forward to broadening our direct presence in this emerging market and introducing new customers to the powerful benefits of this technology."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAdVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12330 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10114 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9848 views comments | 6 tweets | 15 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9690 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9421 views 19 comments | 14 tweets | 30 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job