FICO
106 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