Basisbank, an online lender in Scandinavia, will control credit risk and accelerate its digital transformation using FICO decision management technology, analytic software provider FICO has announced.
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."
FICO Blaze Advisor decision rules management system gives businesses maximum control over high-volume operational decisions. Blaze Advisor provides companies with a scalable solution that delivers unprecedented agility and actionability for smarter business decisions. FICO Blaze Advisor is part of the groundbreaking FICO Decision Management Suite for building and deploying decision management applications.