FICO Launches FICO Originations Solution

FICO today launched its FICO Originations Solution, a digital customer onboarding solution for financial services providers.

The solution is powered by the FICO Platform and delivered globally on Amazon Web Services (AWS) Cloud.

"Financial services providers today need data-hungry, analytics-ready, agile, extensible systems in order to compete in a digital-first economy," said Tim Van Tassel, vice president and head of product management at FICO, in a statement. "FICO Originations Solution, Powered by FICO Platform, provides the digital and analytic sophistication that enables financial institutions to offer the safety, convenience, and personalization that customers look for during the account opening process through their chosen channel, while closely managing customer-level risk."

The FICO Originations Solution includes configurable templates,  combination and sequencing of data, analytics to mathematically identify the best possible decisions and products for each customer, and access to more than 130 global data sources.

"Unlike point solutions, FICO Origination Solution is delivered on a unified decisioning platform," said Nikhil Behl, chief marketing officer of FICO, in a statement. "The additional benefits of deploying solutions on FICO Platform are significant, including the ability to share decision assets and platform capabilities across the entire customer lifecycle, from onboarding and originations through customer management, fraud, and collections optimization. FICO Platform goes beyond any single use case to give firms true customer-centricity with deep, real-time, 360-degree insights into every customer touch, across all channels, for the full duration of the customer lifecycle."

"FICO Originations Solution Powered by FICO Platform has proven to be the perfect solution for standardizing OTP's workflows while still maintaining country-specific rules and processes," said Gyorgy Kiss-Haypal, group chief risk officer at European financial services firm OTP Group, in a statement. "Not only is FICO Platform helping us balance pan-continent standardization with in-country localization, but it is also providing improved cost efficiency while increasing our control over risk management for new customers."