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FICO sees major opportunities in India
Mint Mumbai
|December 06, 2023
US-based analytics company FICO, the maker of FICO credit score used by lenders to assess credit worthiness of borrowers, sees business opportunities in the upbeat consumption potential of the Indian economy, chief executive officer Will Lansing said in an interview.
Founded in 1956, the company uses predictive analytics, artificial intelligence (AI) and data science to improve operational decisions of businesses, primarily in the financial services space. On Tuesday, FICO launched its cloud-based platform in India with lenders like HDFC Bank, Axis Bank and AU Small Finance Bank, being the early users.
"We are in a moment in time when the Indian economy is poised to spring with consumer consumption and credit, unsecured lending, all of which are to happen in a significant way." Lansing said the platform was built over a decade ago and has been sold to 100 of the top 300 global financial institutions. He said the data used by the platform will reside in India.
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