Financial firms leverage advanced analytics technologies
Leading Indian Banks are adopting FICO’s Cloud Platform for enhanced decision making and AI as a measure to tech-driven bolstering growth opportunities.
FICO (NYSE: FICO) from Bozeman, Montana, says HDFC Bank, Axis Bank and AU Small Finance Bank are early adopters of FICO® Platform
“FICO® Platform is now available in India, delivering the latest advanced analytics and artificial intelligence capabilities to empower local enterprises,” said the company in a release on 5 Dec 2023.
FICO boasts partnerships with the majority of India’s leading private sector banks, including 8 out of the top 10.
A recent Forrester Consulting study commissioned by FICO on the ‘Current State of Advanced Analytics Adoption’ reveals that 3 out of 4 industry decision-makers in India have prioritized improving customer experiences.
“Financial services firms that leverage advanced analytics technologies experience increased customer acquisition, improved profitability, and enhanced compliance,” said the Forrester Research report ‘Prioritizing Customer Experience.”
As more embrace digital banking, institutions compete to enhance customer experiences, emphasizing the benefits of AI, decision automation and business outcome simulation, Kompella said.
“In India’s dynamic business environment, financial institutions will now have the potential to deliver hyper-personalized customer experiences, reshape business models, and achieve optimal outcomes for customers and stakeholders,” elaborated Kompella. Fiinews.com
