Swisscard, a leading premium credit card provider in Switzerland, has extended its five-year partnership with FICO to integrate AI-powered decision optimization from the FICO Platform, aiming to refine credit limit strategies for its cardholders.
Swisscard’s decision to deepen its collaboration with FICO focuses on leveraging the optimization capabilities within the FICO Platform. The objective is to manage credit limits for both new and existing cardholders more effectively, allowing for increased spending limits while maintaining the company’s risk appetite. This initiative is designed to enhance customer satisfaction and loyalty by offering a more flexible approach to credit, thereby strengthening Swisscard’s market position.
Nadia Benitez, head of Risk Models at Swisscard, stated that the new initiative builds upon a successful five-year partnership with FICO, during which FICO Platform has been used to continuously improve credit originations. Benitez highlighted the expansion as a natural progression due to FICO’s leading position in the decision optimization space, expressing anticipation for using mathematical optimization to transform credit limit management.
Swisscard currently utilizes FICO Platform for onboarding, limit management, and customer behavior processes. Benitez praised the platform’s ability to define decision strategy elements once and apply them across different areas, ensuring consistency and enhancing agility. This functionality allows Swisscard to deploy new strategies without requiring IT intervention.
FICO’s optimization capability integrates advanced analytic science and pioneering innovation. Jens Dauner, vice president of FICO for the DACH region, noted successful deployments of AI-powered optimization across Europe. He projected that Swisscard’s new implementation on FICO Platform would result in higher revenues, improved credit card take-up rates, and increased credit card use among suitable customer profiles.
FICO (NYSE: FICO), founded in 1956, specializes in predictive analytics and data science to enhance operational decisions for businesses worldwide. The company holds over 200 US and foreign patents, and its solutions are used in more than 80 countries, ranging from protecting 4 billion payment cards from fraud to improving financial inclusion. The FICO® Score is a standard measure of consumer credit risk, used by 90% of top US lenders and available in over 40 other countries.
