Global analytics software firm FICO today announced that S-Pankki, the banking arm of Finnish retailing co-operative S-Group, will use next-generation risk analytics from FICO to grow its customer base.
More information: https://www.fico.com/en/latest-thinking/product-sheet/fico-custom-models
“As we add new products and expand our customer base, we need a comprehensive view of our enterprise risks,” said Mika Svar, head of Credit Risk at S-Pankki. “In order to create the most advanced risk analytics, we reviewed the top analytics providers as well as consulting firms and credit bureaus, and found that FICO has the greatest expertise in this area worldwide. With FICO models, we can pursue growth more aggressively, knowing that we can stay within our risk guidelines.”
“A more advanced analytics approach is the key to lending with confidence,” said Steve Hadaway, vice president and general manager for Europe, the Middle East and Africa at FICO. “S-Pankki is taking the right approach to upgrade its models as part of its growth strategy.”
FICO uses a wide array of modeling technologies in developing predictive analytics, and has the most experience in this field of any firm worldwide. FICO analytics are used by thousands of lenders, retailers and other firms, and the company has more than 100 patents related to AI, machine learning and predictive analytics.
