Using FICO’s advanced AI-powered optimization, the bank will develop data-driven lending strategies to systematically improve results. Slovenská sporiteľňa is part of the Erste Group, one of the largest financial services providers in Central and Eastern Europe, which serves more than 16 million customers in seven countries.

“As a digital banking leader in Slovakia we are looking forward to this cooperation,” said Zdeněk Románek, member of the Board of Directors of Slovenská sporiteľňa responsible for retail banking. “We value not only the power of the FICO optimization algorithms and software but the way they will enable our data scientists and our portfolio management team to collaborate on designing, executing and managing new strategies for the business.”

“Slovenská sporiteľňa, as the lending leader in Slovakia, is advancing the use of mathematical optimization to transform lending,” added Steve Hadaway, EMEA general manager for FICO. “This is the application of advanced data science to navigate a universe of possible strategies and identify the most successful, based on multiple constraints and objectives. For a complex lending market like the one today, optimization has become an essential tool.”