FICO Advisory Services
Partner with us for deep decision making insights, increased business analytic knowledge and a vision for your longer term strategic direction.
Overview
The FICO® Advisors Approach
FICO Advisors are business consultants accelerating the decision evolution with pragmatic use of FICO solutions through data-driven analytics, strategic design, and software applications. Our seasoned practitioners are uniquely valued for their credit lifecycle risk and fraud knowledge, driving measurable results in an ever-dynamic economic market.
Our approach
With experience honed from hands-on practice and decades of global problem resolution, we collaborate with our clients to deliver impactful, tangible results.
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Planning
What is the state of your operation? Have you thought of your business through a different lens?
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Execution
Let’s tune your systems and operation to deliver better results.
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Growth
Let’s keep reviewing how you are doing to maintain your competitive edge, and let us support you in your evolution.
Services
Our FICO Advisors team delivers four thematic services to help you thrive in delivering your customer credit lifecycle journey — from acquisition, origination, account and customer management, collections and recovery through fraud, security, and compliance.
FICO Advisors Operational Readiness Review: How will we integrate this new software to operationally support our strategic decisions and what changes are needed?
Product Utilization Review Service: Am I getting full potential of my product implementation and usage?
Strategy Consulting Service: How do I capitalize on my software to achieve my objectives?
Current State Assessment: Can my operational and business processes be improved?
Technical Details
FICO solutions are built on the most advanced analytic science, leveraging decades of pioneering innovation and real-world expertise.
FICO Advisors Operational Readiness Reviews (ORR) provide clients with an approach to understand current processes supported by the legacy systems currently in place, and to identify the policies, procedures, rules, interfaces and downstream processes needing change to ensure a successful implementation. We also help ORR clients with more practical matters like determining the impact to hardware sizing, technical configurations, tenant usage and more, based on their business requirements. Some clients like to have the ORR, pre-kick-off sessions before enacting a full project, so they can get the key showstoppers and consideration discussed before they involve the larger project team.
Key steps include:
1. Identify and document complete business and operational requirements migration
2. Provide guidance on changes to policies, procedures, evaluation rules and downstream processes anticipating implementation
3. Evaluate the technical implications related to provided business requirements
This service can also assist you with more practical matters such as updating data dictionaries and variable definitions, documenting operational requirements and defining change management approaches for making the software migration successful across all phases of the customer credit lifecycle.
Key steps include:
1. Identify and document complete business and operational requirements migration
2. Provide guidance on changes to policies, procedures, evaluation rules and downstream processes anticipating implementation
3. Evaluate the technical implications related to provided business requirements
This service can also assist you with more practical matters such as updating data dictionaries and variable definitions, documenting operational requirements and defining change management approaches for making the software migration successful across all phases of the customer credit lifecycle.
After IT invests in software licensing and installation, business users are left to become proficient in using the new system. FICO Advisors Strategy Consulting provides the client business team with user training, educates clients in methods to define, build and monitor strategies and improve rule sets, and provides support for selecting and entering parameters that govern the system. This includes guidance on how to absorb the methodology for champion/challenger testing, how to identify best practice uses for the software deployment and how to assess deployed strategies and analytic models are performing as expected and being used to drive continuous portfolio improvement. Using system-provided and other reports, the Advisors provide solution performance tracking as well as monitoring and tracking for any analytic models and strategies deployed within the software.
FICO Advisors Product Utilization Reviews look at ways you can more effectively leverage licensed software capabilities. Nearly every institution is deploying a combination of solutions from multiple providers. But not everyone is operating them optimally. FICO Advisors delivers an in-depth assessment of current usage of one or a suite of systems, identifying any conflicting or non-complementary approaches that may adversely impact performance, as well as highlighting any existing functionality that is either underutilized or not currently leveraged at all.
1. Evaluate your current software use in the context of your business objectives
2. Evaluate future objectives against licensed capabilities
3. Identify solution gaps and functionality available but not currently or sub-optimally utilized
4. Recommend capability upgrades to facilitate plans and long-term objectives
Additionally, we may recommend specific training packages that will help in revitalizing product knowledge or creating a new group of educated users within your organization. This review is intended to ensure that you are maximizing your return on investment, by identifying opportunities and categorizing them in terms of level of benefit and effort to implement.
At project end, you will receive a written Product Utilization Review, providing the following:
1. Guidance on how to more effectively use your software for decision improvement
2. Specific training programs to empower employees using the software
3. Advice for additional capabilities that would ensure you will meet your goals and keep you abreast of industry change
1. Evaluate your current software use in the context of your business objectives
2. Evaluate future objectives against licensed capabilities
3. Identify solution gaps and functionality available but not currently or sub-optimally utilized
4. Recommend capability upgrades to facilitate plans and long-term objectives
Additionally, we may recommend specific training packages that will help in revitalizing product knowledge or creating a new group of educated users within your organization. This review is intended to ensure that you are maximizing your return on investment, by identifying opportunities and categorizing them in terms of level of benefit and effort to implement.
At project end, you will receive a written Product Utilization Review, providing the following:
1. Guidance on how to more effectively use your software for decision improvement
2. Specific training programs to empower employees using the software
3. Advice for additional capabilities that would ensure you will meet your goals and keep you abreast of industry change
A Current State Assessments (CSA) is a deep look at a given decision process and provides specific recommendations for improving your results. We emphasize areas specified within your goals — for example higher growth, better risk appraisal, improve fraud losses, compliance with scoring and reporting requirements, faster application turn-around — and we’ll look at the technology, operational policy, credit policy and analytics that can help your organization improve.
A CSA will provide information on the gap between your organization performance and that observed from others leading industry change and advancement. It will define a roadmap to move towards this leading practice, and will identify the technology, analytics and processes needed to meet your goals. This work is summarized in three key deliverables at engagement conclusion:
1. CSA Report
2. CSA Roadmap (General, Analytic, Technology or a Combination)
3. CSA Presentation to Senior Executives
A CSA will provide information on the gap between your organization performance and that observed from others leading industry change and advancement. It will define a roadmap to move towards this leading practice, and will identify the technology, analytics and processes needed to meet your goals. This work is summarized in three key deliverables at engagement conclusion:
1. CSA Report
2. CSA Roadmap (General, Analytic, Technology or a Combination)
3. CSA Presentation to Senior Executives
Get in Touch
Would you like to learn how a partnership with our FICO Advisors team can help you along your journey?
