Portugal’s largest private-sector lender,
Millennium BCP, has increased automated loan decisions from 8% in
2000 to 91% in 2012 by using software solutions by analytics and
decision management technology vendor FICO.

Currently, Millennium BCP approximately
automates 128m decisions a year, on the retail banking side, using
FICO solutions.

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Millennium BCP “required a more systematic way
to make decisions as it pursued growth across Europe and Africa”,
according to the lender.

The partnership between Millenium BCP and FICO
allows deployment of automated processes and standards for
“efficient origination and customer management decisions” on
various products across multiple countries.

Using FICO solutions, Millennium BCP has
“improved client satisfaction and increased the use of account
information to make faster and more accurate risk forecasts”
alongside increasing revenue from fees and interest, more
efficiently underwriting and debt collection, lowering provisions
and customer churn rates, and targeting customers more precisely
with credit offers.

Millennium BCP also uses a suite of other FICO
solutions, including FICO TRIAD Customer Manager, FICO Capstone
Decision Accelerator and FICO Model Builder.

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Antonio García Rouco, general manager of FICO
for Western Europe said:

“With our solutions, Millennium BCP can turn
customers who only use their current accounts for deposits and cash
payments into clients with credit products that are more
profitable.”

Millennium BCP has over 2.5m customers and a
network of more than 882 branches across Portugal.