UK Fintech Evergreen Chooses FICO Analytic System to Automate Credit Decisions

UK Fintech Evergreen Chooses FICO Analytic System to Automate Credit Decisions

PR Newswire

LONDON, March 6, 2019

LONDON, March 6, 2019 /PRNewswire/ --

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HIGHLIGHTS:

Evergreen Finance London Ltd, a leading UK fintech that operates as Moneyboat.co.uk, have recently selected FICO technology and analytics to automate lending decisions. Evergreen have purchased FICO® Decision Modeler, which will execute Evergreen's credit evaluation strategies. Three bespoke analytic models developed by FICO to specifically address affordability and risk will be executed in FICO Decision Modeler. By applying these highly segmented risk strategies, Evergreen are now able to make increasingly intuitive credit decisions, and by doing so reduce default rates and enhance customer experience.

More information: https://www.fico.com/en/products/fico-decision-modeler

"We reviewed other decision engines, but the FICO system gives us the greatest sophistication and flexibility," said Yisroel Perkel, founder and director of Evergreen. "FICO impressed us with their expertise in this area, along with their ability to deliver both world-class software and advanced analytics. By enabling us to approve loans 24/7, their solutions will aid our strategy to rapidly grow and make short-term loans affordable and fair."

Moneyboat, a direct lender authorized and regulated by the FCA, makes loans between £200 and £1,500.

"Evergreen, like other fintechs we serve, need the smartest technology available to make sound lending decisions faster," said Steve Hadaway, general manager for FICO in Europe, the Middle East and Africa. "In a high-risk area like short-term lending, precise risk decisions are essential. No company has as much experience as FICO at building risk management systems for lending."

Moneyboat.co.uk are leading UK direct lenders, authorized and regulated by the Financial Conduct Authority. Offering loans from £200 to £1,500 to the UK public, Moneyboat are bridging the innovative powers and accessibility of financial technology with the traditional feel and trust of short-term, direct lending.

FICO® Decision Modeler brings the power of FICO® Blaze Advisor® Decision Rules Management System to the cloud. Lenders can use business terms, not programming, to create decision rules and publish the rule sets as decision services or applications. FICO Decision Modeler is part of the FICO® Decision Management Suite for building and deploying analytic applications.

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 190 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.

Learn more at www.fico.com.

Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/

FICO and Blaze Advisor are registered trademarks of Fair Isaac Corporation in the US and other countries.

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