LONDON, May 11, 2021 /PRNewswire/ --
Highlights:
- AMAG Leasing AG improves staff productivity by 50 percent by
automating credit granting decisions.
- Complex changes to business rules take days rather than two
months.
- AMAG Leasing AG says return on investment will take just over
six months.
- Project completed entirely remotely without a single physical
meeting.
AMAG Leasing AG, the largest B2B and B2C captive car leasing
company in Switzerland, has used
the FICO® Platform to improve its credit
granting process. With more than 150,000 leasing contracts under
management, AMAG Leasing AG has been able to automate large parts
of the decision-making procedure involved in striking new leases so
that the company will be able to handle 50 percent more
applications with the same workforce, thanks to the power of
FICO® Decision Modeler.
The user-friendly nature of the platform allows credit managers
to implement policies themselves in a matter of hours. More complex
changes to business rules which used to take up to two months to
apply can now be completed in less than a week.
More information: https://www.fico.com/en/platform
Before the implementation, the company had been experiencing
issues meeting changes in the market quickly, as their incumbent
rules engine required changes to be coded by the third-party
supplier. This meant that adjustments took a very long time and
AMAG Leasing AG was missing the flexibility to react to market
conditions and customer expectations.
"Our strategic goal was to increase the digitalization and
automation of our leasing process to give us an opportunity to meet
our growth target of doubling our yearly application volume within
the next few years," said Martin
Meyer, managing director at AMAG Leasing AG. "The
move to a cloud-based decisioning platform has allowed us to scale
our business, bring greater control in-house and plug us into
leading technology that will get better through updates every
year."
By deploying the cloud-based FICO system, AMAG Leasing AG was
able to create intelligent rules driven by data, allow leadership
to analyze the portfolio and run what-if simulations and produce an
audit trail that tracked the changes made.
"The solution from FICO has given us enormous flexibility to
deliver an improved offering to our customers and
partners," added Meyer. "What was also impressive was
that due to the pandemic, the project was run completely remotely
between us and FICO and yet still came in on time and on budget,
which demonstrates the close working relationship that developed
between our two companies. We believe this project will deliver our
ROI in just over 6 months."
Using the capabilities on the FICO® Platform, AMAG Leasing AG
was able to orchestrate multiple data sources to facilitate
automated decisions, customer identification and bureau data
retrieval for leasing applications.
The AMAG Leasing AG toolset
includes FICO® Decision Modeler - Cloud
Edition, FICO® Data Orchestrator and
FICO® Decision Management Platform - Cloud Edition
"AMAG Leasing AG has accelerated their car leasing business with
a transformational cloud deployment," said Steve Hadaway, EMEA general manager for
FICO. "I am particularly proud of the engagement taking place
remotely with not a single physical meeting taking place. Not only
did everybody show great flexibility and adaptation, AMAG Leasing
AG also demonstrated great trust in us and as a result has very
quickly optimized a critical business process."
The FICO® Platform provides the ideal decisioning
foundation companies need to successfully achieve digital
transformation. It provides unprecedented insight into customers'
immediate and future needs by eliminating data silos and enabling
interoperability between enterprise applications. FICO was named a
leader by Forrester Research in The Forrester Wave™: Digital
Decisioning Platforms, Q4 2020.
About AMAG
AMAG Group AG is a Swiss company. AMAG
Import AG imports and distributes vehicles from Volkswagen, Audi,
SEAT, ŠKODA, CUPRA and VW commercial vehicles through the largest
network of agents in Switzerland
(more than 600 dealers and service partners). This also includes
AMAG Automobil und Motoren AG, which has around 80 of its own
garages, used vehicles and bodywork centers. It is also a Bentley
support point. A further subsidiary is AMAG First AG, the largest
Porsche dealer organization in Switzerland.
The AMAG Group also includes AMAG Leasing AG as a financial
services provider, AMAG Parking AG, which operates various parking
facilities, AMAG Services AG, which is a licensee of Europcar and
ubeeqo for Switzerland and
operates valet parking facilities at Swiss airports and chauffeur
services throughout Switzerland.
Since 2021, mobilog AG has also been offering logistics services
for third parties as well, and the AMAG Group also operates an
Innovation & Venture Lab. Since 2018, AMAG has been a co-owner
of autoSense, the solution for the digital networking of vehicles,
and since 2019 it has been offering Clyde, an auto-abo model. It is
also a partner in the Swiss Startup Factory.
AMAG Group AG employs approximately 6,500 people, including
approximately 730 apprentices.
About FICO
FICO (NYSE: FICO) powers decisions that
help people and businesses around the world prosper. Founded in
1956 and based in Silicon Valley, the company is a pioneer in the
use of predictive analytics and data science to improve operational
decisions. FICO holds more than 195 US and foreign patents on
technologies that increase profitability, customer satisfaction and
growth for businesses in financial services, manufacturing,
telecommunications, health care, retail and many other industries.
Using FICO solutions, businesses in more than 120 countries do
everything from protecting 2.6 billion payment cards from fraud, to
helping people get credit, to ensuring that millions of airplanes
and rental cars are in the right place at the right time.
FICO is a registered trademark of Fair Isaac Corporation in the
US and other countries.
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SOURCE Fair Isaac Corporation