Raiffeisen Bank Romania will accelerate digital transformation with FICO platform

Raiffeisen Bank will use new customer onboarding technology from analytic software firm FICO to increase its digital lending capabilities in Romania.
FICO announced that Raiffeisen — part of Raiffeisen Bank International, one of the largest banking groups in Central and Eastern Europe — has purchased FICO® Origination Manager to further automate processing new accounts, through all channels, across all retail banking products.

“We see FICO Origination Manager as the best option, both from a technology perspective and because the ability of FICO’s team to understand and meet the bank’s requirements,” said Bogdan Pipernea, executive IT director at Raiffeisen Romania. “Raiffeisen have worked with FICO for years on a variety of projects, and we view them as a long-term partner. With this IT solution, and the knowledge transfer from their advisors, we will progress our digital transformation with a focus on a great user customer experience.”

“Raiffeisen Bank has always been a leader in using analytic technology to streamline operations and improve the customer experience,” said Steve Hadaway, FICO general manager for Europe, the Middle East and Africa. “They realize the incredible advantages to be had from bringing greater consistency and control to all banking channels. Our solutions will support their approach to holistic customer management.”

„FICO® Origination Manager brings advanced analytics, application processing and decision flexibility to businesses, so they can make more precise, profitable decisions when starting a new credit relationship. It integrates seamlessly with other FICO solutions to provide end-to-end customer lifecycle decision management, driven by advanced analytics based on a single view of the customer.”, according to the press release.

Raiffeisen Bank is deeply anchored in the Romanian market, providing a comprehensive range of high-quality financial services and products to more than 2.1 million customers, including more than 100,000 SMEs and 5,600 corporate clients. The Raiffeisen group’s local outlet network covers the entire country, all 480 branches being located in the urban area. Raiffeisen Bank was chosen as „Best Foreign Bank in Romania” and „Best Investment Bank in Romania” by EMEA Finance in 2016.

About FICO
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 185 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.