31/08/2011
By Scott Thompson
Nationwide Building Society has selected FICO Blaze Advisor for its Strategic Risk Infrastructure initiative. The business rules management system will be the single risk engine that the society uses to automate all risk decisions for mortgage lending and personal loans initially, with roll-out to the rest of the portfolio also in mind.
“To serve our members with the most competitive prices, our team needs to be able to adjust to the market faster,” says Henry Jordan, head of retail credit risk at Nationwide Building Society. “By using FICO Blaze Advisor, we can continuously update our policies and offers, while keeping our risk at the appropriate level. FICO provided the most comprehensive, flexible and cost-effective way for us to manage decisions across our enterprise.”
“Like the most forward-looking financial institutions, Nationwide is investing in centralised decision management to improve agility and stay ahead in a highly competitive market,” comments Mike Gordon, FICO vice president and managing director for Europe, the Middle East and Africa. “This is a big change from the past, when every channel, product and decision area required a different point system. FICO provides a decision management platform that gives lenders and insurers sharper control over risk while substantially reducing IT complexity and cost.”
