Volvo chooses FICO for vehicle subscription service onboarding

Volvo Cars has selected FICO Decision Modeler to onboard customers to its new Care by Volvo service.

Care by Volvo is a vehicle subscription service designed to let customers enjoy the benefits of a new Volvo, without the challenges of owning one. For a fixed monthly fee, Volvo provides subscribers with a brand-new Volvo and covers all regular service, maintenance costs and breakdown cover. The service was introduced to reflect the shift in consumer preference toward car usage and away from absolute ownership.

Initially, Volvo used manual, online credit reference checks to onboard new customers to Care by Volvo. Although enough for the pilot launch of the service in Germany, this process could not scale as Volvo rolls out Care by Volvo across Europe and North America.

Volvo’s decision to use FICO Decision Modeler stemmed from a few factors: FICO’s ability to support a global roll out for Care by Volvo and the company’s understanding of the automotive market. FICO Decision Modeler is part of the FICO Decision Management Suite, an integrated set of tools for building and deploying analytics applications on the FICO Decision Management Platform.