Originating a new account is a costly decision affecting over 80% of the measurable risk over the life of an account. It is also an increasingly complex decision that must be made in decreasing timeframes, in unfamiliar markets and often on less creditworthy applications.
Yet given margin pressures, it's essential to accurately price each credit product and offer. By adjusting the levers of profitability within the originations process, lenders can achieve significant results, and see an ROI across multiple performance dimensions at the same time.
Fair Isaac is a world leader in offering powerful, flexible originations solutions. Our advanced analytics and decision automation technology helps financial institutions, telecom carriers and insurance companies:
- Increase approval volume
- Reduce risk and fraud rates
- Match pricing to risk
- Speed decision cycles
- Reduce application processing costs
- Reduce need for manual intervention
- Implement business policy changes quickly
- Launch new products safely
Fair Isaac solutions help you to focus your resources so you can improve the consistency, precision, and speed of your originations decisions for more profitable results:
Automated application decisioning
Fair Isaac's best-in-class Capstone suite of origination solutions generate automated decisions on applicants for more than 35% of US credit card applications and 25% of UK mortgage underwriting, as well as globally for consumer lending, auto loan originations, credit cards, small business lending, mortgage and insurance underwriting, and claims processing.
Precision risk analysis
Empirical risk assessment is the single most important factor in approving profitable, credit-worthy customers that will build a quality portfolio. Fair Isaac offers consumer and small business lenders, insurance underwriters, and telecom companies a range of analytic solutions for every need.
- Credit risk scores - including FICO® scores, NextGen FICO® scores, FICO® Industry Options scores, and CallScore - easily obtainable from credit reporting agencies in the US, Canada, the UK, and South Africa rank-order applicants according to the likelihood that they will pay as agreed. Their proven accuracy empowers companies to make billions of better decisions on each of their applicants.
- Industry specific risk models, pre-developed on data for specific industry portfolios - including direct lending, indirect lending, HELOC, small business lending and revolving credit, mortgage, auto lease and retail-provide fast risk assessment without the time and expense of custom models. We can also develop expert models specifically for your product and environment.
Web-based credit decisioning for consumer and small business lenders
LiquidCredit® Service enables credit unions, banks finance companies, and to design and implement analytically driven strategies that can be consistently executed in near real time.
Small Business Scoring Service and LiquidCredit® Decision Manager pairs software and predictive models specifically for commercial lending, supporting leasing, commercial cards, lines of credit and term loans.
Origination strategy optimization
Strategy Science enables credit card issuers, retailers and installment lenders to determine the optimum offer considering multiple complex factors (risk, profit potential, response, competition etc.), the beginning of long-term, profitable relationships with their applicants.
Identity fraud protection
Fair Isaac's Falcon™ ID solution gives financial institutions, retailers, telecom providers, mortgage lenders, and other credit grantors the power to quickly detect and efficiently resolve identity fraud attempts - during account originations and throughout the lifecycle of the account. Using a wide variety of data sources, as well as a collection of neural network models, it analyzes activity and provides you with identity fraud scores indicating the likelihood of fraud. Analysts then use the solution's case management system to further investigate identities that they suspect have been compromised.
Looking for more information on solutions for origination management?
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