In addition to Model Builder, Nedbank can set up bespoke model development flows for different business units and subsidiaries.
Fico said that the Model Builder solution provides the transparency and documentation needed for compliance and communication with South African regulators.
The Model Builder solution combines industry breakthroughs in scorecard development functionality with a visual interface to solve large modeling problems. The solution can reduce model deployment costs by as much as 75%, while shortening time-to-value and improving model ROI.
Nedbank has worked with PIC Solutions, Fico’s partner in South Africa, which uses Fico Model Builder to develop scorecards.
As part of the current agreement, Fico will also supply training to Nedbank, sharing Fico’s own techniques for developing powerful models using the software.
Fico Model Builder is one of the decision management tools, which include Fico Blaze Advisor business rules management system and Fico Xpress Optimization Suite.
Fico Model Builder is also the tool used by its analysts to build scores and applications, including the Fico Score and the models in Fico TRIAD Customer Manager.
Fico vice president and managing director for Europe, the Middle East and Africa Mike Gordon said that Fico has made Fico Model Builder 7.1 a dynamic, interactive and user-friendly system, so that modeling teams like Nedbank’s can accelerate model development and deployment.
"We’re not just supplying Nedbank with the best modeling tool ever created for scorecard development, we’re focused on increasing the bank’s analytic capabilities by giving them access to our practices and analytic experts," Gordon said.
