Enables Absa business users to modify business rules themselves, without having to rely on technical staff support
FICO, the provider of analytics and decision management technology, has announced that South Africa-based bank, Absa, a member of the Barclays Group, has selected its FICO Blaze Advisor business rules management system as its decision engine for all consumer credit originations.
Reportedly, Absa will use the FICO solution to standardize its decision process across all its lines of business, including mortgage, personal and auto loans, cheques and credit cards.
It has been reported that FICO Blaze Advisor enables Absa business users to modify business rules themselves, without having to rely on technical staff support. It gives Absa a single point of control to manage multiple product offers and make customer-level decisions. The bank expects that by implementing a common set of rules, it can improve its response time and decision consistency, adjusting its origination practices quickly in response to market changes.
FICO claimed that a key factor in Absa’s decision to implement FICO Blaze Advisor was its new Decision Simulator module, which enables users to run simulations and evaluate the business impact of automated decisions before deploying them.
Jaco Rossouw, head, capability development and change for retail credit risk at Absa, said: “In the current environment, we’re actively looking for ways to improve our response time to shifting market conditions. FICO Blaze Advisor proved to be the one system we could deploy across our entire retail credit product portfolio to achieve this, helping us make faster, more precise and more consistent decisions to propel our business forward.”