Leading Indian Banks Leverage FICO's Cloud Platform for Enhanced Decisioning and AI, Bolstering Growth Opportunities
Highlights:
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HDFC Bank , Axis Bank andAU Small Finance Bank are early adopters with FICO® Platform -
FICO® Platform is now available in
India – delivering the latest advanced analytics and artificial intelligence capabilities to empower local enterprises -
FICO boasts partnerships with the majority of
India's leading private sector banks, including 8 out of the top 10 - FICO® Platform has achieved 16 consecutive quarters of greater than 40 percent year-over-year growth
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AU Small Finance Bank , a growing, technology-driven Indian lender, is using the FICO® Platform for customer onboarding and originations, increasing loan automation substantially
As FICO officially launches its industry-leading cloud-based platform in
“In India's dynamic business environment, financial institutions will now have the potential to deliver hyper-personalized customer experiences, reshape business models, and achieve optimal outcomes for customers and stakeholders,” said
The implementation of the FICO Platform will enable Indian enterprises to unlock invaluable insights, optimize operations, and drive impactful commercial outcomes, aligning with the success of our clients across the region and worldwide.
This commitment to enhancing customer experiences is also reflected in the success of
“In this era of rapid digital transformation, we are looking for solutions that can drive a connection with our valued customers,” said Mr
More information: https://www.fico.com/en/fico-platform
FICO® Platform: Empowering Indian Businesses
The FICO® Platform offers several key benefits to banks and FSIs in
Powering Customer Connections: The FICO Platform empowers business leaders to tap into their market knowledge and customer insights, enabling smarter choices, broader collaboration, and faster learning cycles to create stronger connections with customers.
Enabling Enterprise Transformation: The FICO Platform enables organizations to optimize productivity and output through seamless collaboration between diverse roles and skillsets. Intuitive feedback loops drive high-performance through continuous learning.
Driving Strategic Business Outcomes: Ensuring alignment between IT projects and management KPIs is critical to delivering successfully on business goals. The FICO Platform allows management to translate strategy into operations, significantly boosting effectiveness.
Rapid Time-to-Value: The FICO Platform enables swift project implementation, measured in weeks rather than the traditional 12-month timeline of on-premises solutions.
FICO® Platform: A Preferred Choice for Digital Transformation
The FICO® Platform is gaining significant momentum in the financial services sector, with many of the world’s leading and most innovative banks selecting it as the core of their digital transformation efforts. Organizations such as Lloyds Bank, BMO, Bradesco, ANZ and many more have all achieved outstanding business results with the FICO Platform.
“FICO has achieved 16 consecutive quarters of year-over-year growth exceeding 40 percent for the FICO Platform,” added Kompella. “This success is attributed to our intensely customer-focused innovation, setting us apart in the industry and earning recognition from leading analysts.”
FICO was named as a leader by The Forrester Wave™: AI Decisioning Platforms, Q2 2023 and received the Banking Innovation of the Year Platinum Award in the Future Digital Awards for Fintech & Payments 2023, presented by
Forrester Research: Prioritizing Customer Experience
A recent
"In India, with 40% of the 1.4 billion population already using digital banking, the trend toward online financial services is clear,” said Kompella. “As more embrace digital banking, institutions compete to enhance customer experiences, emphasizing the benefits of AI, decision automation and business outcome simulation."
Security, Speed and Scalability
The FICO® Platform operates on
Security is prioritized with advanced encryption protocols and stringent access controls, ensuring the utmost protection of sensitive data.
Speed is delivered via the platform's cutting-edge cloud infrastructure facilitating real-time processing and analysis of vast data volumes, empowering businesses to make informed decisions quickly.
Scalability, alongside its robust computing capabilities, ensures that the FICO Platform empowers enterprises to fully leverage artificial intelligence and advanced analytics, helping them stay ahead in an increasingly competitive market.
"The FICO Platform is all about helping businesses succeed and making a positive impact on both the organization and its customers," emphasized Kompella. "At FICO, we're proud to bring applied intelligence to the Indian market to drive real value and meaningful outcomes."
Reference Videos:
FICO's Bangalore Brilliance: Crafting a Global Fintech Revolution | Digital Transformation 2023
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics, AI and data science to improve operational decisions. FICO holds more than 215 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.
Learn more at http://www.fico.com.
Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/.
For FICO news and media resources, visit www.fico.com/news.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231205848578/en/
Manasvi Srivastava
The 23 Watts for FICO
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manasvi@the23watts.com
RICE for FICO
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FICO
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Source: FICO