FICO, provider of analytics and decision management technology, has announced that neckermann.de GmbH, the German online and mail-order company, has selected FICO Model Builder to develop and optimise scorecards for its new customers.
Neckermann.de offers customer service and flexible payment methods allowing new customers the option of purchasing on account or by instalments. The company will use FICO Model Builder to develop several scorecards that will precisely estimate the credit risk for these orders, in order to rapidly process customer orders while at the same time managing risk.
"We are deeply impressed by the outstanding performance and usability of FICO Model Builder," said Maximilian Fervers, head of Finance with neckermann.de. "The solution enables us to build new models within a very short period of time. In addition, the tool fits perfectly into our system environment and seamlessly integrates with our customer management system. We have worked with FICO for about 20 years now, and we are very satisfied with the performance of their solutions and the collaboration with their team."
Phillip Sertel, senior director at FICO for DACH, Central & Eastern Europe, said: "A growing number of retailers have been discovering predictive analytics to improve customer service and expedite orders. The complex statistical models provide valuable assistance in areas such as calculating the likelihood that new customers will meet their obligations on time."
FICO Model Builder combines industry breakthroughs in scorecard development functionality with a highly visual interface and 64-bit certification to solve very large modelling problems. Model Builder can reduce model deployment costs by as much as 75%, while shortening time-to-value and improving model ROI.