Fair, Isaac
and Company, Incorporated announced that its
industry-leading TRIAD adaptive control system will help Canada’s
largest issuer of Visa and general purpose credit cards make more
profitable portfolio and individual account-level customer treatment
decisions.
Under the agreement, Fair, Isaac’s TRIAD 7.0 will serve as the
single strategy engine platform to service Canadian Imperial Bank of
Commerce’s (CIBC) more than 5 million Visa credit card accounts at
TSYS (NYSE:TSS), a global provider of electronic transaction services
for some of the world’s best known and most respected financial
institutions and retailers.
“After using TRIAD for almost 10 years, we have seen consistently
good results in the decision areas that are most critical to our
bottom-line,” said Christine Croucher, executive vice president of
Card Products at CIBC. “Fair, Isaac is a trusted partner with
considerable expertise, experience and a solid reputation as an
industry leader. We are confident that this strategic conversion of
our growing credit card portfolio to the TRIAD platform will be
beneficial for us and our customers.”
The three-year agreement builds upon Fair, Isaac’s existing
relationship with CIBC. CIBC has been using the client-installed
version of Fair, Isaac’s TRIAD adaptive control system to manage its
card portfolio for nearly a decade and will transition its accounts to
TRIAD 7.0 at TSYS by early 2003. TRIAD has over 90 percent of retail
market share and over 80 percent of financial services market share in
Canada.
“We are delighted to broaden our relationships with CIBC through
this new agreement,” said Andrew Jennings, Fair, Isaac vice president
of Strategy Machines–Lifecycle Solutions, Account Management. “TRIAD
continues to deliver major benefits to our clients and processor
partners around the world. Our TRIAD 7 platform provides CIBC with the
ability to improve account profitability while conveniently managing
and processing every credit card account through one system.”
TRIAD adaptive control system enables the world’s leading lenders
to automate and improve credit account management. It facilitates the
process of developing and implementing different credit and marketing
strategies, using predictive analytics to forecast future account
performance. In a controlled learning environment called
“champion/challenger testing,” and through detailed reporting
generated by the system, credit issuers are able to accurately assess
the performance of strategies and rapidly evolve new ones to adapt to
changing consumer behaviors and economic conditions.
About Fair, Isaac
Fair, Isaac and Company (NYSE:FIC) is the preeminent provider of
creative analytics that unlock value for people, businesses and
industries. The company’s predictive modeling, decision analysis,
intelligence management, decision management systems and consulting
services power more than 25 billion mission-critical customer
decisions a year. Founded in 1956, Fair, Isaac helps thousands of
companies in over 60 countries acquire customers more efficiently,
increase customer value, reduce fraud and credit losses, lower
operating expenses and enter new markets more profitably. Most leading
banks and credit card issuers rely on Fair, Isaac solutions, as do
insurers, retailers, telecommunications providers, healthcare
organizations and government agencies. Through the www.myfico.com Web
site, consumers use the company’s FICO(R) scores, the standard measure
of credit risk, to manage their financial health. As of August 5,
2002, the business of HNC Software Inc., a leading provider of
high-end analytic and decision management software, is part of Fair,
Isaac. For more information, visit www.fairisaac.com.
About CIBC
CIBC is a leading North American financial institution offering
more than 8 million personal banking and business customers a full
range of products and services through its comprehensive electronic
banking network, branches and offices across Canada, in the United
States and around the world. CIBC is also Canada’s leading credit card
issuer and offers a broad range of choice and value. To find other
news releases and information about CIBC, visit the bank’s media
center at www.cibc.com.
About TSYS
TSYS (NYSE: TSS) (www.tsys.com) brings integrity and innovation to
the world of electronic payment services as the integral link between
buyers and sellers in this rapidly evolving universe. Synovus (NYSE:
SNV) owns an 81.8-percent interest in TSYS. For more information,
contact [email protected]
