Fair Isaac Corporation, the leading provider of analytics and decision technology, and IBM announced the first integration of Fair Isaac’s TRIAD adaptive control technology with IBM’s Banking Data Warehouse (BDW). By combining the world’s leading account management analytics with IBM’s industry-standard data warehouse infrastructure, the two companies have created a powerhouse customer credit management solution for financial institutions worldwide.
The first institution to leverage the combined solution, a major North American bank, will use it to gain a more precise understanding of their most profitable customers through faster, more efficient access to more complete and accurate data. As a result, the bank will be able to develop and deploy improved retention and cross-sell strategies, ensure consistent communication across multiple channels and more effectively manage risk. Further, the solution’s core data and rigorous risk management analytics provide key components of an effective Basel II compliance plan.
Fair Isaac and IBM recently announced a global strategic alliance to help financial institutions manage risk, prevent fraud and forge more effective customer relationships. The new credit management solution marks the companies’ first joint product development and integration initiative, bringing together two core technology offerings to help lenders implement world-class risk management practices that support profitability goals and address regulatory requirements, such as those mandated by Basel II.
“By helping financial services providers put their data into action through analytics, we are able to immediately deliver upon the powerful synergies of our new strategic alliance with IBM,” said Bill Nowacki, chief marketing officer at Fair Isaac. “Plugging TRIAD’s unmatched predictive capabilities into IBM’s data warehouse structure essentially activates an institution’s customer data and empowers smarter account decision strategies influenced by precise customer-level insights. Banks have faster, easier access to their data, and their data works harder to help them manage and grow their most vital customer relationships.”
Fair Isaac’s TRIAD products promote understanding, evaluation and retention of profitable customers by supporting analytics-based decisions at the account and customer level. The system analyzes all data on the customer’s total product holdings, and the resulting insight is used to deliver the right product or treatment to each customer at the right price and time. Leveraging the consistent and complete customer data provided by IBM’s Banking Data Warehouse gives TRIAD even more precision, flexibility and power.
“One of IBM’s most vital strategic priorities is to meet the needs of specific industries, and this integration immediately expands our ability to provide financial services providers with world-class customer credit and risk management software and tools,” said June Felix, global general manager of Payments, Risk & Compliance Solutions at IBM. “IBM and Fair Isaac’s combined expertise translates into fast and easy access to advanced analytic capability for our clients and a greater leverage of their database investment.”
IBM’s Banking Data Warehouse is a component of the IBM Information Framework, derived from 12 years of experience with financial institutions — including 170 banks and insurance companies. Consolidating valuable and easily accessible data from multiple sources, the BDW enables more informed decision-making. The data warehouse’s flexibility allows financial services providers to quickly react to market dynamics, restructuring and economic changes and create solutions ranging from departmental data marts to enterprise-wide data warehouses.
Fair Isaac’s TRIAD adaptive control systems currently manage 65 percent of the world’s credit card accounts. At over 280 installations worldwide, TRIAD adaptive control has helped businesses improve profitability by guiding and informing management in strategic planning for the profitability of their portfolios; providing continual testing, learning, and refining of portfolio strategies in a “champion/challenger” test environment; lowering operating costs and impact on IT resources through smooth integration into billing and customer information systems; and integrating powerful analytics and business expertise.
About IBM’s Financial Services Sector
IBM is the world’s largest information technology (IT) company and provider of IT services, as well as a preeminent technology partner to the world’s financial services industry. Working directly with its financial services customers and with IBM certified Business Partners, IBM helps them become more competitive through the innovative deployment of high-impact, on demand solutions that enable financial institutions to achieve flexibility, scalability, variability, robustness and security in their IT architecture. These solutions comprise the full range of IBM capabilities including consulting, software, hardware, research and services. IBM offers solutions that strengthen customer relationships, streamline business processes, reduce costs and risks and enhance technical infrastructure. Additional information can be found at [www.ibm.com/solutions/financialservices].
About Fair Isaac
Fair Isaac Corporation (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 billions of 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. For more information, visit [www.fairisaac.com].