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Itaucard Uses Real-Time Decisions From FICO Origination Solution To Compete In Mexico Card Market

SAO PAULO, March 12, 2013 /PRNewswire/ -- FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that Itau Unibanco, Brazil's largest private sector bank and one of the largest globally, has grown its card portfolio in Mexico with FICO analytic software. Itaucard Mexico is using FICO™ Capstone™ Decision Accelerator to make instant online decisions on credit card applications.


Mexico is an attractive card market for growth. According to Euromonitor, the number of credit cards in circulation jumped by 18 percent between 2006 and 2011, and is estimated to grow another 28 percent by 2016.  Currently, the credit card market is highly concentrated – 77 percent of the market is held by just three banks.

"We knew that to compete in Mexico we had to be very innovative," said Ricardo Toledo, marketing director for Itaucard Mexico. "We pursued a strategy of commercial alliances, whereby Itaucard would align with established, well-known consumer brands and get the benefit of their infrastructures and customer database."

Itaucard saw an opportunity to differentiate itself through excellent service and a customer-friendly application process for all channels, with real-time decisions. When approved, the customer could immediately charge against their new card. FICO Capstone Decision Accelerator is at the very core of this process.

"To create this high level of customer service required a combination of know-how and infrastructure," said Toledo. "The know-how is the expertise and market knowledge of our Itaucard team. The infrastructure means providing the team with the best tools to manage decisions and control risks, namely the FICO suite. The solution implementation was quick, and the systems are user-friendly, giving a lot of autonomy to our business analysts. We have the agility to adjust strategies when necessary, which is critical in a new market. This combination has enabled us to be innovative and challenge the market."

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