Danish online lender basisbank to implement Fico Blaze Advisor

Source: Fico

Basisbank, an online lender in Scandinavia, will control credit risk and accelerate its digital transformation using FICO decision management technology, analytic software provider FICO announced today.

With FICO® Blaze Advisor® decision rules management system, Basisbank risk analysts will be able to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing in order to increase profitability and reduce the risk of loans going unpaid. Basisbank receives more than 75 percent of its credit applications from mobile devices.

“As a fintech, we need to be fast and responsive to customer demands, while maintaining strong risk management,” said Morten Larsen, head of Business Development at Basisbank, which is based in Copenhagen. “We need to give our risk analysts the maximum flexibility to make changes quickly, not wait in a queue for IT to make changes. In our review of the market, FICO provided the most powerful and flexible solution, and also has the greatest expertise in financial services.”

“Basisbank is seen as a leader in the Danish fintech market,” said Steve Hadaway, general manager for FICO in Europe, the Middle East and Africa. “For tech-savvy players like this, the old generation of lending platforms are too slow and inflexible. The cutting-edge power of FICO Blaze Advisor is perfect to help them grow in a profitable and sustainable fashion.”

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