FICO Platform enables BCP to transform and optimize pricing for personal loans and small and medium enterprise products. Combining pricing intelligence and digitalizing the process is essential for the bank’s transformation. The partnership with FICO has a unique advantage by merging technology expertise with sector-specific knowledge. This collaboration brought innovative solutions and created opportunities to change the lives of millions of people in South America.
BCP, part of Credicorp, is one of the leading financial groups in Latin America with over 40,000 employees. With a market share of more than 30% in integrated financial products, BCP is committed to delivering the right product to the right customer at the right time and channel. To achieve this, BCP embarked on a transformative journey in its pricing process, leveraging the robust capabilities of the FICO platform.
In partnership with FICO, BCP aimed to revolutionize its approach to pricing intelligence and digitalization. This collaboration has allowed BCP to integrate cutting-edge technology with its extensive market reach, optimizing personal loans, factoring, and SME products. The synergy between BCP and FICO has not only enhanced operational efficiency but also fostered innovation and growth within the industry.
Daniela Leon, a key leader at BCP, passionately believes in the transformative power of combining regional ambition with advanced technology. She states, "By putting the best minds in technology together with the best minds in the sector, we are driving innovation that will change our community and industry, creating opportunities to improve the lives of millions in South America."
#PricingIntelligence
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00:01 - The Foundation of BCP - BCP, a cornerstone of Credicorp, has been a leading financial group in Latin America, known for its extensive reach and market dominance.
00:17 - The Need for Transformation - Recognizing the potential for enhanced value, BCP decided to transform its pricing process to deliver superior financial products to its customers. "We have the strong purpose of giving the right product to the right customer in the right channel and timing." - Daniela León, Head of Pricing & Analytics at BCP
00:34 - Partnering with FICO - BCP's collaboration with FICO marked a significant milestone, integrating advanced technology to optimize pricing for personal loans, factoring, and SME products.
00:45 - FICO Platform - "We knew that if we wanted to take it to the next level and really get all the benefits from the pricing capabilities, we needed a very good platform." - Daniela León, Head of Pricing & Analytics at BCP
01:03 - Implementing the FICO Platform - The practical aspects of adopting FICO's platform, detailing the improvements in pricing intelligence and process digitalization. "It's very important to have the pricing intelligence and the digitalization of the pricing process working hand in hand." - Daniela León, Head of Pricing & Analytics at BCP
01:12 - Achievements and Innovations - Highlighting the successes and innovations achieved through the BCP-FICO partnership, showcasing real-world impacts on financial services. "By putting the best minds in technology together with the best minds in the sector, we are driving innovation that will change our community and industry." - Daniela León, Head of Pricing & Analytics at BCP
01:30 - Transforming Lives in South America - "I really believe that putting together the regional reach and ambition that we have with cutting-edge technology can create opportunities to change the life of millions of people in South America." - Daniela León, Head of Pricing & Analytics at BCP
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ABOUT FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com
