FICO Provides Decisioning Platform for Smartphone-Only buddybank in Italy

Published On : 09/20/2016

UniCredit will launch buddybank in early 2017 in Italy

HIGHLIGHTS:

• FICO is providing the decision management platform forUniCredit’sbuddybank, a project bank for smartphone users only
• buddybank’s platform is based on the FICO® Decision Management Suite, and will be used to manage originations, customer management, collections and fraud decisions
• buddybank is scheduled for a January 2017 launch

Analytic software firm FICO today announced it is providing the decision management platform for UniCredit’sbuddybank, a bank project exclusively designed for smartphones. Scheduled to launch in early 2017 in Italy, buddybank will use the FICO^® Decision Management Suite to instantly verify customers and manage credit decisions in originations, customer management, collections and fraud.

“We evaluated providers that offered systems for each segment of the customer lifecycle, but FICO offers not just products but expertise across the lifecycle,” said Angelo D’Alessandro, buddybank founder at UniCredit. “FICO is a partner that is committed to our goals of providing the best service to our customers, and will help us launch buddybank on time and on budget. FICO’s decision management technology is part of what will make buddybank the most innovative new lifestyle bank.”

UniCredit’s buddybank will offer current accounts, credit/debit cards and contextual and instant personal loans, as well as a 24/7 concierge service, accessible via chat and phone, that can help with everyday tasks such as restaurant reservations, taxi booking and travel planning. UniCredit, a leading European commercial bank operating in 17 countries, is targeting the break-even point within three years. Following the launch in Italy, UniCredit will explore launching buddybank in the United States, and other countries in Europe.

“UniCredit’s buddybank represents the next stage for mobile banking,” said Steve Hadaway, FICO’s general manager for Europe, the Middle East and Africa. “For start-ups like this, having one integrated decision management solution not only enables a quick launch, it provides the best way to make customer-level credit decisions and deliver a superior customer experience.”

The FICO® Decision Management Suite 2.0 provides an easy way for customers to evaluate, customise, deploy and scale state-of-the-art analytics and decision management solutions. It allows customers to quickly integrate FICO and FICO partner decision management tools and components with their own components, helping organisations of all sizes realise the promise of advanced analytics and decision management via cost effective, scalable cloud and on-premises solutions.

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.