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Raiffeisen Bank International Goes Live with FICO Economic Impact Service to Control Risk Across 15 Countries
Published on Nov 19, 2010

FICO, the provider of analytics and decision management technology, announced that Raiffeisen Bank International AG (RBI) will extend its usage of the new FICO® Economic Impact Service to control risk in markets across Europe. RBI will use the analytic service to develop lending strategies across 15 countries.

“In a difficult economy, innovation is the key to raising our performance,” said Zsolt Jaczko, vice president and head of Methodology and Validation at RBI. “FICO has given us a better way to adjust our credit risk strategies in response to changing economic conditions. Each market we serve faces different economic prospects, and calibrating risk strategies for each market will help us grow in good and bad economic periods.”

“Raiffeisen Bank International has shown the kind of analytic leadership that characterizes the champions in today’s banking market,” said Mike Gordon, vice president and managing director for FICO in Europe, the Middle East and Africa. “The global financial crisis showed conclusively that the past may not be the best indicator of the future. The FICO® Economic Impact Service is a ‘stress test’ of consumer credit risk at the borrower level, and Raiffeisen Bank International is using this breakthrough in credit scoring technology to do proactive customer management and fuel ambitious growth plans.”

The FICO® Economic Impact Service is a patent-pending analytic service that helps lenders adjust their use of risk scores based on economic projections and lender-defined scenarios. The service examines up to 150 different economic indicators, then scientifically calibrates credit risk estimates to expected market conditions, at the account level. With the ability to build on both internally derived score models and standard credit scores, the FICO Economic Impact Service provides lenders with unprecedented insight into the changing nature of risk under different economic conditions.**

Source: Business Wire

Vendor name: FICO
Buyer name: Raiffeisen Bank
Product type: Banking Systems | Consultancy | Consultancy Services | Risk Management | Treasury Analytics | Treasury Systems

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