WASHINGTON, April 26, 2016 /PRNewswire/ -- FICO WORLD 2016 --
- FICO® Strategy Director reduces the time needed for decision authoring from days to minutes using visual, guided authoring that doesn't require IT or coding skills.
- Strategy Director can be used to configure off-the-shelf solutions to specific industry decision areas and data models.
- The first available configured solution for banks is FICO Strategy Director for Deposit Management, which allows banks to control decision strategies in five key areas.
- Infosistema, a technology and business consultancy firm and FICO partner, has created the first Configuration Packages for the insurance industry.
For more information: http://www.fico.com/en/products/fico-strategy-director-for-deposit-management
FICO today announced FICO® Strategy Director, a decision authoring tool that allows business users to rapidly configure decision management solutions for their industry-specific needs. Using Strategy Director and its Configuration Packages for specific decision areas, companies can implement sophisticated decision-making solutions in record time.
Using Strategy Director's intuitive interface, business users can design and implement decision strategies using a set of easy to use decision trees and tables. Strategy Director executes models built using FICO's analytic authoring tools, Analytic Modeler and Optimization Modeler, drastically reducing the time needed to operationalize and derive value from analytics.
The first Configuration Package from FICO is Strategy Director for Deposit Management, available immediately. This solution enables a bank to control its decision strategies in five key areas: over-limit management, pay/no-pay, fee waiver, deposit hold and pricing.
"Our aim was to bring to deposit management the type of personalization and flexible strategy management capabilities available to credit card portfolios," said Stuart Wells, chief technology officer at FICO. "This Configuration Package gives deposit managers the power to personalize deposit decisions through analytics and to refine strategies and improve performance through controlled testing. Deposit management is only the first example of what Strategy Director can do when we bring the most powerful decision management technology to a specific need."
FICO is currently developing Configuration Packages to address other decision areas for lenders, insurance organizations, healthcare and telecommunications providers. FICO is also encouraging the development of Configuration Packages by partners with deep expertise in specific industries.
Infosistema, a technology and business consultancy firm focused on the banking and insurance sectors, has developed two configuration packages to solve specific scenarios common to automotive insurance quoting and life insurance underwriting.
"Strategy Director strikes a unique balance between customizability, adaptability and IT friendliness on one hand and maintainability, scalability and business-user friendliness on the other," said Alexandre do Monte Lee, partner at Infosistema. "We now have a tool that allows for reusable configurations that are easy to modify, optimize and control. This helps insurance firms accelerate decision-making in a powerful way."
FICO® Strategy Director is part of the company's next-generation, cloud-based FICO® Decision Management Suite, which allows non-technical people to harness the full potential of advanced analytics. Strategy Director simplifies and centralizes the decision management process, giving users new levels of control over the decision flow.
"FICO has been refining the practice and science of decision management for 60 years," said Stuart Wells. "We believe Strategy Director's flexibility and speed, brought to market through a library of Configuration Packages, will empower organizations to realize the value of their analytic investments much faster."
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 165 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 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.
Learn more at http://www.fico.com.
FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.