Tech firm FICO has announced Czech retail bank Ceska Sporitelna is to use FICO optimisation tools to increase profit and improve its loan approval process.

A subsidiary of Austria’s Erste Bank Group and the largest Czech bank with more than 5m clients, Ceska will use FICO’s tools to maximise the portfolio profit from its cash loan portfolio.

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A major focus for Ceska is the improvement of its "pre-approved" loans decision strategy for existing customers.

This defines the best terms and conditions to offer customers for a consumer loan, ensuring loan amounts and prices are balanced against customer preferences and portfolio objectives.

Ceska plans to begin testing the new strategy this summer.

The bank will use the FICO Decision Optimiser, a business analyst tool that simulates the effects of different decision strategies for future projects.

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Petr Kapoun, head of risk at Ceska Sporitelna, said "Innovation has always been an important driver for our success. In retail banking we are the market leader, holding about 30% of market share in almost all major product segments.

"The new solution enables us to further strengthen this position by adapting offerings to meet our customers’ individual needs.

"The FICO solution convinced us because it uses comprehensive simulations that show the effect of different strategies on KPIs, providing insights into the profit driver of our portfolios."

 

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