This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ZUNO Delivers Automated Credit Decisions Using Cloud-Based FICO Originations Solution

Stocks in this article: FICO





MUNICH, April 9, 2013 /PRNewswire/ --  FICO (NYSE:FICO), a leading predictive analytics and decision management software company, today announced that ZUNO Bank AG has implemented FICO® Capstone® Decision Accelerator in a private cloud for its online lending business. Hosted in ZUNO´s data center, the multi-tenant solution provides rapid, country-specific assessments of customer value and risk for unsecured lending in Slovakia and the Czech Republic, and can be easily and quickly configured for the next product or country.

(Logo:  http://photos.prnewswire.com/prnh/20111010/CG83314LOGO)

ZUNO Bank is the direct bank of Raiffeisen Bank International, a leading banking group in Central and Eastern Europe based in Austria. The direct bank is building its business upon sustainable, robust and flexible solutions which support its overall strategy.

"Our aim is to become the primary bank of choice for our customers, offering deposits as well as personal loans, refinancing, contactless credit card and overdraft via internet banking," said Petro Merkulov, Head of Risk Management at ZUNO. "Excellent service is crucial for us, so the ability to generate automated decisions on credit requests in a short period of time, compared with the standard one or two days for manual underwriting will make a big impact on our ability to achieve our goal."

In addition, the rapidly changing lending environment led ZUNO to seek a solution that would provide direct, hands-on ability for business users to build and maintain the policies, practices and procedures that define their lending strategies. "Within our credit-granting process, Capstone Decision Accelerator is the only system we can change and update directly by ourselves, without need of assistance from IT department or the system vendor," added Petro Merkulov.

"By implementing lean and automated processes based on an optimized cost structure, direct banks can fully exploit the advantages of online banking and gain a critical edge for their business," said Phillip Sertel, who manages FICO's operations in the DACH region, Central & Eastern Europe and the Middle East. "We have designed Capstone Decision Accelerator specifically for accounts originations in fast-moving markets, giving business users the ability to access the solution via the internet and to build and maintain policies, practices and procedures by themselves. Offering these capabilities as well as a powerful decision engine, Capstone Decision Accelerator enables banks to automate their decisions and flexibly respond to changing market conditions."

Even more importantly, by using the rules and queuing within FICO Capstone Decision Accelerator, ZUNO is able to detect and prevent a high quantity of fraud attacks from the beginning and reduce fraud losses to almost zero, which goes in line with the direct bank's high security standards.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs