Business Chief USA February 2019

FICO
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customer experience that they need
to in order to be successful.”
The challenge for both insurers
and banks, concedes Deveau, is that
while most are now actively seeking
to engage their experience offering,
a large majority are still embedded
in legacy systems and technologies.
FICO’s Centralized Decisioning, for
example, connects all business-critical
insights across an enterprise, enabling
that decision making process to be
optimised across an entire customer
lifecycle. FICO recognises several traits
of a ‘best-in-class’ decisioning process,
including a unified, scalable decision
platform that optimises and monetises
the use of people, data and analytics;
the ability to create personalised customer
treatments at scale; the ability to
validate and simulate decisions before
they are put into production; and the
creation and management of the strategies,
rules and analytics that drive
decision and actions.
To give some perspective on these
being put into practice, FICO and
Arizent’s research revealed that just
5% of banks are using all of the data
at their disposal, only a third (37%) are
FEBRUARY 2020