Utilizing Fair, Isaac and Company’s Strategy Designer software, Europe’s foremost card services company has seen a significant boost in performance by generating consumer offers that are geared specifically to each customer. Fair, Isaac Strategy Designer software, an interactive, real-time tool that uses historical data to assist in identifying optimal account management strategies, has helped Barclaycard achieve a 48 percent lift in income over traditionally developed strategies.
“After seeing consistently good results from Fair, Isaac’s adaptive control approach to our account management strategies, we saw Strategy Designer as an ideal tool to revisit our credit strategies, identify new opportunities and make more customer-centric business decisions,” said Richard Brennecker, Customer Value Centre Head, Barclaycard.
Using a Barclaycard data file of one million accounts, with 12 months of history and six months of performance data, Fair, Isaac analysts worked with Barclaycard’s portfolio managers to build optimal credit strategies, exploring the impacts of more than 40 key variables, such as delinquency and balance/revenue build. “In addition to the significant bottom line results we are realizing, Strategy Designer helps us better understand the drivers of the strategies, and ultimately, our customers,” added Brennecker. “We are looking forward to implementing this tool across the entire portfolio. As a result, we expect to see an ROI of 40:1 within a year.”
“These results further underscore the tremendous payoffs of leveraging innovative decision technology and strategies to achieve business performance,” added Andrew Jennings, vice president, International Market Administration, at Fair, Isaac. “This project has once again demonstrated the business sense of combining strategy, analytics, and consumer needs for the best all around solution to a business issue.”
Strategy Designer is an easy-to-use and flexible tool designed specifically to support businesses with the creation of data-driven strategies that result in more powerful decisions. It gives lenders the power to rapidly create new strategies in real time using multiple performance dimensions; to process large datasets rapidly so strategies can be changed and results can be seen in minutes; and to profile strategies at any point for greater understanding of the portfolio.
Barclaycard has been a user of TRIAD(TM) adaptive control system to manage its 11 million cards since 1995. This most recent expansion of Fair, Isaac’s relationship with Barclaycard provides added fuel to the company’s global expansion. Currently, some 65 percent of the world’s credit cards are managed by Fair, Isaac decision technology.
About Fair, Isaac
Fair, Isaac is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years. Headquartered in San Rafael, California, the company reported revenues of $298 million for fiscal 2000. For more information, visit www.fairisaac.com , email email@example.com or call 1-800-999-2955.
Barclaycard is Europe’s leading online card services company. It has 11 million credit cards held by 8.5 million customers across Europe. Barclaycard was the first and is the leading Internet credit card, offering customers free Internet delivery protection and a guarantee against online fraud. Over 400,000 customers use Barclaycard’s online account services, with around 10,000 new users registering every week.Details