Blockchain
Home Credit Will Improve Credit in Russia with FICO Optimisation
Gartner Data & Analytics Summit — Analytics software firm FICO announced today that Home Credit N.V. (www.homecredit.net), an international lender that focuses on responsible lending to people who have limited access to financial services, will use FICO optimisation tools and methodologies to improve its cash loan and credit card portfolios in Russia. These new strategies will provide optimized credit offers for both existing and new customers, aimed at increasing acceptance rates and building the lender’s portfolio.
Home Credit, headquartered in the Czech Republic, will use FICO’s advanced analytics to develop an optimised pre-approved loans decision strategy of their Russian business. This approach will analytically define the best terms and conditions to offer each customer, based on customer preferences and portfolio objectives.
Similarly, the optimisation of credit lines and prices will promote better utilisation of credit lines. The company plans to start testing these new strategies in early 2020.
“Innovation has always been an important driver for our success,” said Petr Kapoun, Chief Risk Officer at Home Credit. “Our work with FICO consistently reflects this, and we look forward to seeing how these new solutions and services will benefit our customers. We are using advanced analytics to expand opportunities for people who frequently find it hard to get credit.”
Although Home Credit has been using FICO® Blaze Advisor® Decision Rules Management System to automate credit decisions in all its operating markets, Russia will be the first market to use FICO® Decision Optimizer to analytically develop strategies. This powerful software provides an offline scenario analysis and optimisation environment that can quickly devise implementation-ready decision strategies for the bank’s existing systems. As a result, Home Credit Russia (www.homecredit.ru) will be able to simulate the effects of different decision strategies, and better balance take-up rates with risk and profit.
In addition, as FICO Decision Optimizer can be used to develop lending strategies across the customer lifecycle, Home Credit Russia will be looking to use it to develop decision models for its other products and decisions.
“Home Credit N.V. has been a key customer for us in Central and Eastern Europe for more than 10 years now,” said Jens Dauner, who oversees FICO’s operations in DACH and Central Europe. “Our state-of-the-art optimisation technology will help them balance the trade-offs between customer needs and portfolio profitability in an analytically precise way. This is the next phase of strategy design for banking leaders.”
Privacy and access management issues will be further discussed at the Gartner Data & Analytics Summit 2019 taking place 19-20 November in Frankfurt. FICO is an exhibitor at the event.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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