Leading Danish online lender will gain flexibility and control over risk exposure
STOCKHOLM, March 21, 2018 /PRNewswire/ --
- Basisbank, an online lender in Denmark, will control credit risk and accelerate its digital transformation using FICO® Blaze Advisor® decision rules management system
- Basisbank risk analysts will be able to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing
- FICO Blaze Advisor is part of the groundbreaking FICO® Decision Management Suite for building and deploying decision management applications
Basisbank, an online lender in Scandinavia, will control credit risk and accelerate its digital transformation using FICO decision management technology, analytic software provider FICO announced today. With FICO® Blaze Advisor® decision rules management system, Basisbank risk analysts will be able to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing in order to increase profitability and reduce the risk of loans going unpaid. Basisbank receives more than 75 percent of its credit applications from mobile devices.
"As a fintech, we need to be fast and responsive to customer demands, while maintaining strong risk management," said Morten Larsen, head of Business Development at Basisbank, which is based in Copenhagen. "We need to give our risk analysts the maximum flexibility to make changes quickly, not wait in a queue for IT to make changes. In our review of the market, FICO provided the most powerful and flexible solution, and also has the greatest expertise in financial services."
"Basisbank is seen as a leader in the Danish fintech market," said Steve Hadaway, general manager for FICO in Europe, the Middle East and Africa. "For tech-savvy players like this, the old generation of lending platforms are too slow and inflexible. The cutting-edge power of FICO Blaze Advisor is perfect to help them grow in a profitable and sustainable fashion."
FICO® Blaze Advisor® decision rules management system gives businesses maximum control over high-volume operational decisions. Blaze Advisor provides companies with a scalable solution that delivers unprecedented agility and actionability for smarter business decisions. FICO Blaze Advisor is part of the groundbreaking FICO® Decision Management Suite for building and deploying decision management applications.
Basisbank is a Danish privately owned Internet bank founded in 2000. The Bank offers simple banking and consumer finance products to private individuals direct to market and at point of sale at selected retail partners and automotive dealers. The Bank serves more than 90K customers and 700+ retail shops and automotive dealers. https://www.basisbank.dk/
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
Learn more at www.fico.com.
FICO and Blaze Advisor are registered trademarks of Fair Isaac Corporation in the US and other countries.