AMAG Leasing AG improves staff productivity by 50 percent by automating credit granting decisions.
Complex changes to business rules take days rather than two months.
AMAG Leasing AG says return on investment will take just over six months.
Project completed entirely remotely without a single physical meeting.
AMAG Leasing AG, the largest B2B and B2C captive car leasing company in Switzerland, has used the FICO® Platform to improve its credit granting process. With more than 150,000 leasing contracts under management, AMAG Leasing AG has been able to automate large parts of the decision-making procedure involved in striking new leases so that the company will be able to handle 50 percent more applications with the same workforce, thanks to the power of FICO® Decision Modeler.
The user-friendly nature of the platform allows credit managers to implement policies themselves in a matter of hours. More complex changes to business rules which used to take up to two months to apply can now be completed in less than a week.
Before the implementation, the company had been experiencing issues meeting changes in the market quickly, as their incumbent rules engine required changes to be coded by the third-party supplier. This meant that adjustments took a very long time and AMAG Leasing AG was missing the flexibility to react to market conditions and customer expectations.
"Our strategic goal was to increase the digitalization and automation of our leasing process to give us an opportunity to meet our growth target of doubling our yearly application volume within the next few years," said Martin Meyer, managing director at AMAG Leasing AG. "The move to a cloud-based decisioning platform has allowed us to scale our business, bring greater control in-house and plug us into leading technology that will get better through updates every year."
By deploying the cloud-based FICO system, AMAG Leasing AG was able to create intelligent rules driven by data, allow leadership to analyze the portfolio and run what-if simulations and produce an audit trail that tracked the changes made.
"The solution from FICO has given us enormous flexibility to deliver an improved offering to our customers and partners," added Meyer. "What was also impressive was that due to the pandemic, the project was run completely remotely between us and FICO and yet still came in on time and on budget, which demonstrates the close working relationship that developed between our two companies. We believe this project will deliver our ROI in just over 6 months."
Using the capabilities on the FICO® Platform, AMAG Leasing AG was able to orchestrate multiple data sources to facilitate automated decisions, customer identification and bureau data retrieval for leasing applications.
"AMAG Leasing AG has accelerated their car leasing business with a transformational cloud deployment," said Steve Hadaway, EMEA general manager for FICO. "I am particularly proud of the engagement taking place remotely with not a single physical meeting taking place. Not only did everybody show great flexibility and adaptation, AMAG Leasing AG also demonstrated great trust in us and as a result has very quickly optimized a critical business process."
The FICO® Platform provides the ideal decisioning foundation companies need to successfully achieve digital transformation. It provides unprecedented insight into customers' immediate and future needs by eliminating data silos and enabling interoperability between enterprise applications. FICO was named a leader by Forrester Research in The Forrester Wave™: Digital Decisioning Platforms, Q4 2020.
About AMAG AMAG Group AG is a Swiss company. AMAG Import AG imports and distributes vehicles from Volkswagen, Audi, SEAT, ŠKODA, CUPRA and VW commercial vehicles through the largest network of agents in Switzerland (more than 600 dealers and service partners). This also includes AMAG Automobil und Motoren AG, which has around 80 of its own garages, used vehicles and bodywork centers. It is also a Bentley support point. A further subsidiary is AMAG First AG, the largest Porsche dealer organization in Switzerland.
The AMAG Group also includes AMAG Leasing AG as a financial services provider, AMAG Parking AG, which operates various parking facilities, AMAG Services AG, which is a licensee of Europcar and ubeeqo for Switzerland and operates valet parking facilities at Swiss airports and chauffeur services throughout Switzerland. Since 2021, mobilog AG has also been offering logistics services for third parties as well, and the AMAG Group also operates an Innovation & Venture Lab. Since 2018, AMAG has been a co-owner of autoSense, the solution for the digital networking of vehicles, and since 2019 it has been offering Clyde, an auto-abo model. It is also a partner in the Swiss Startup Factory.
AMAG Group AG employs approximately 6,500 people, including approximately 730 apprentices.
About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.