As FICO World comes to a close, Team Atto reflects on our presence at the conference as official FICO partners. The team have returned home from San Diego after attending stimulating sessions and connecting with some of the brightest minds in the credit risk industry.
Let's dive into the key highlights from our FICO World journey.
Origination & onboarding
Amidst the bustling exhibition centre, our booth in the Origination and Onboard area commanded attention, with hundreds of connections and demonstrations of the Atto platform.
Informative sessions and thought leadership
Atto’s Chief Commercial Officer, Clare McCaffery, captivated a crowd of over 200 attendees at the panel ‘Real-Time Predictive Modelling: A Powerful Combination with Open Banking & AI’.
Here are some of her key takeaways:
- High conversion rates in auto and mortgage lending are closely tied to consumer consent via open banking, underscoring its role in decision-making.
- Open banking data opens doors for enhanced credit scoring, particularly benefiting SME lending, by offering real-time insights into financial behaviours and improving risk assessment accuracy.
- The panel highlighted the potential of using open banking data throughout the credit lifecycle. This goes from pre-booking originations to post-booking collections, enabling hyper-personalisation and fairer pricing for vulnerable consumers.
Atto’s Business Development Director, Nick Tuttelberg, also took the stage in his presentation on ‘Unlocking next generation decisioning to drive an uplift in growth through acquisition and retention’.
Nick said:
- Despite global economic challenges, numerous opportunities exist to expand market share.
- Utilising alternative data sources such as open banking can provide fresh insights into financial behaviour, enabling hyper-personalization.
- The fusion of technology and alternate data will deliver real-time views, automating manual functions for faster and more precise risk decisions.
Key themes and insights
Amidst the discussions, the theme of hyper-personalisation resonated strongly. From automating credit risk decisions to predicting consumer needs, alternative data emerged as a front-runner in the race to personalised offerings and customer satisfaction.
Dr. Scott Zoldi's closing session was a hit, as he highlighted the importance of responsible and interpretable models in the data-driven era of credit risk decisioning.
Memorable encounters
In the midst of the whirlwind, we had the pleasure of meeting legendary Tennis pro Chris Eubanks.
His lesson: “Control the controllables. If you prepare well, you will be successful eventually.“
Wise words!
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Spectacular finale and lasting impressions
As the curtains closed with a spectacular FICO light show, the energy and enthusiasm of the conference lingered. It was a testament to the collective passion and dedication from credit risk’s brightest leaders.
As we embark on the next chapter, we carry with us the lessons learned and connections made at the conference. With even more energy and passion, team Atto remain committed to our mission: shaping a more predictable future for lenders.
We extend our heartfelt gratitude to all who made this journey unforgettable – especially our partners, FICO.
Until next year, FICO World!
