Indian Economy News

India tech stack can revolutionize credit assessment: FICO CEO , Mr. Will Lansing

  • IBEF
  • January 25, 2024

Fair Isaac Corporation (FICO) CEO, Mr. Will Lansing, emphasized the transformative impact of the India tech stack on credit assessment. The tech stack, facilitating access to diverse data sources, is a potent enabler for financial institutions and lenders, allowing more accurate predictions of an individual's creditworthiness. Mr. Lansing noted the historical limitations of relying on traditional data sets, such as credit card information and home loans. In India, the tech stack is expected to revolutionize this process.

FICO, known for consumer credit ratings and fraud detection software, recently launched its next-gen CRM decision platform in India, aiming to expand its operations there. Mr. Lansing praised India's government-managed infrastructure for swiftly providing valuable insights into consumer behaviours. This positions FICO to contribute significantly to the growth of the consumer credit segment in India. With its scalable platform, FICO stands out globally, with early adopters including HDFC Bank, Axis Bank, and AU Small Finance Bank. As FICO continues leveraging the Indian tech stack, it is poised to reshape credit assessment and consumer credit dynamics in the Indian market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.