South African retail lender African Bank has selected FICO Blaze Advisor decision rules management system to improve governance.
The system, which forms part of the FICO Decision Management Suite, will serve as the central hub for all decision-making at the bank. The system will be used for decision services in four modules with 11 bespoke environments.
The vendor said that the technology will enable the bank to carry out decision management using a single interface, while having full lifecycle control over the system.
The technology will allow the bank to launch credit strategies 30% faster and at 25% reduced cost, as well as make changes to credit strategies in two days instead of two months, FICO said.
African Bank programme executive credit decisioning Dawid Van Zyl said: “Once we started solving difficult scenarios with Blaze Advisor in originations, our management team realized we could expand it throughout the enterprise. The vision is to expand across the entire lifecycle and across many products.”