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Fico to provide decision management suite for UniCredit smartphone bank buddybank

19 September 2016  |  3946 views  |  0 Source: Fico

Analytic software firm FICO today announced it is providing the decision management platform for UniCredit's buddybank, a bank project exclusively designed for smartphones.

Scheduled to launch in early 2017 in Italy, buddybank will use the FICO® Decision Management Suite to instantly verify customers and manage credit decisions in originations, customer management, collections and fraud.

"We evaluated providers that offered systems for each segment of the customer lifecycle, but FICO offers not just products but expertise across the lifecycle," said Angelo D'Alessandro, buddybank founder at UniCredit. "FICO is a partner that is committed to our goals of providing the best service to our customers, and will help us launch buddybank on time and on budget. FICO's decision management technology is part of what will make buddybank the most innovative new lifestyle bank."

UniCredit's buddybank will offer current accounts, credit/debit cards and contextual and instant personal loans, as well as a 24/7 concierge service, accessible via chat and phone, that can help with everyday tasks such as restaurant reservations, taxi booking and travel planning. UniCredit, a leading European commercial bank operating in 17 countries, is targeting the break-even point within three years. Following the launch in Italy, UniCredit will explore launching buddybank in the United States, and other countries in Europe.

"UniCredit's buddybank represents the next stage for mobile banking," said Steve Hadaway, FICO's general manager for Europe, the Middle East and Africa. "For start-ups like this, having one integrated decision management solution not only enables a quick launch, it provides the best way to make customer-level credit decisions and deliver a superior customer experience."

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