US-based data analytics firm FICO has introduced new retail banking solutions that will enable lenders to improve their credit lifecycle management processes.

The solutions include FICO Origination Manager, FICO Strategy Director, FICO Debt Manager FitAgent, and FICO Customer Communication Services (CCS).

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FICO Origination Manager has been designed to offer consumers multiple options for appropriate terms in real time.

It interacts seamlessly with Alternative Deal Structure (ADS) to present a set of differentiated options by assessing thousands of alternative offers.

FICO Strategy Director offers plug-and-play industry configurations to facilitate rapid decision authoring and management.

FICO credit lifecycle business line vice-president Tim VanTassel said: “”FICO Strategy Director provides analytically powered decisions to maximise the consumer’s relationship with their service provider.

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“Strategy Director helps to complete the credit lifecycle ecosystem by using the same data, decision logic and analytics to maintain the current customer view, which can of course then be fed into a new originations decision.”

FICO Debt Manager FitAgent enables users to examine huge amounts of real-time datasets from internal or external sources. The solution leverages FICO Decision Management Platform Streaming to generate insights for the collection and recovery process.

In order to improve customer communications with artificial intelligence (AI) and cloud, CCS delivers analytically driven, two-way, automated voice, text, email and mobile app notifications.

CCS enables various entities such as banks and government agencies to better connect with their customers and address fraud concerns.

Commenting on the new solutions, VanTassel added: “We have seen remarkable changes in banking in the last two years as lenders accelerate their digital transformation and reinvent the customer experience.

“Lenders are engaged in an analytic arms race to find, delight and retain the right customers by determining and deploying differentiated offers and experiences.”