Slovenska Sporitelna bank, Slovakia. Credit: Rakoon.

Slovenská Sporiteľňa, a commercial bank in Slovakia, has partnered with FICO to develop data-driven lending strategies and increase profitability.

The Slovakian lender selected FICO Decision Optimizer to improve loan portfolio management and provide better offers.

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The FICO Decision Optimizer solution enables lenders to identify better decision strategies considering all factors.

The solution is part of the FICO Platform and supports the entire lifecycle of designing, developing, executing and deploying decision optimisation technology.

Slovenská Sporiteľňa Board of Directors member and responsible for retail banking Zdeněk Románek said: “As a digital banking leader in Slovakia we are looking forward to this cooperation.

“We value not only the power of the FICO optimisation algorithms and software but the way they will enable our data scientists and our portfolio management team to collaborate on designing, executing and managing new strategies for the business.”

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FICO EMEA general manager Steve Hadaway said: “Slovenská sporiteľňa, as the lending leader in Slovakia, is advancing the use of mathematical optimisation to transform lending.

“This is the application of advanced data science to navigate a universe of possible strategies and identify the most successful, based on multiple constraints and objectives. For a complex lending market like the one today, optimisation has become an essential tool.”

Earlier this year, Turkish lender Yapi Kredi partnered with FICO for asset governance and regulatory compliance.