UniCredit will launch buddybank in early 2017 in Italy

The launch is scheduled for early 2017. Buddybank will use the FICO Decision Management Suite to instantly verify customers and manage credit decisions in originations, customer management, collections and fraud.

UniCredit’s buddybank will offer current accounts, credit/debit cards and contextual and instant personal loans, as well as a 24/7 concierge service, accessible via chat and phone, that can help with everyday tasks such as restaurant reservations, taxi booking and travel planning. UniCredit, a leading European commercial bank operating in 17 countries, is targeting the break-even point within three years. Following the launch in Italy, UniCredit will explore launching buddybank in the United States, and other countries in Europe.

The FICO Decision Management Suite 2.0 provides customers a way to evaluate, customise, deploy and scale state-of-the-art analytics and decision management solutions. More than that, it allows customers to integrate FICO and FICO partner decision management tools and components with their own components.