LONDON--(BUSINESS WIRE)--FICO (NYSE:FICO), the leading provider of analytics and decision management technology, and London-based Telrock Communications Ltd., developer of mobile applications for banking, payments and debt management, today announced an agreement under which FICO will resell Telrock’s interactive text and smartphone applications around the world. Telrock applications give FICO clients a new, fully secure mobile channel for communicating with customers, improving customer service and collecting payments.
With Telrock’s unique mobile payment applications such as textDebit™, customers can make payments by replying to SMS alerts or through smartphone apps. Telrock clients have reported that 40% of customers make payments within 30 minutes of receiving a mobile alert, and 74% make payments within 48 hours. According to Telrock, payment arrangements managed by interactive text messaging have a completion rate of 63%, which is 20% above the average for non-SMS payment plans. Users of Telrock mobile applications include leading banks and utility companies, such as RBS, NatWest, British Gas, and Scottish and Southern Energy.
“Smartphone penetration is predicted to be 50% in 2012 and 80% by 2015, opening up a vast new communication channel for business,” said Telrock CEO Russell Robinson. “Younger generations in particular have shown a marked preference for receiving communications via SMS and apps over voice. Our agreement with FICO will enable credit grantors worldwide to leverage this channel to speed payments, cut collection costs and improve customer satisfaction.”
Telrock’s mobile-based services include sophisticated customer account management and protection functionality, as well as customer payment handling and alerting. Clients using these services can significantly reduce operating costs, achieve improved customer satisfaction and increase payment and contact rates, using a channel that costs less than traditional phone-based communications.
“Mobile payments have the potential to revolutionize banking by giving customers a quick, simple and secure channel for making sensitive payment arrangements,” said Mike Gordon, FICO’s general manager for Europe, the Middle East and Africa. “By offering Telrock mobile apps, we believe we can deliver help our clients in banking and other industries strengthen both their credit portfolios and their customer relationships.”
About Telrock
Telrock implements mobile applications for
banks and utilities to improve customer experience and reduce
operational costs and risk. Learn more about Telrock at www.telrock.com.
About FICO
FICO (NYSE:FICO) transforms business by making
every decision count. FICO’s Decision Management solutions combine
trusted advice, world-class analytics and innovative applications to
give organizations the power to automate, improve and connect decisions
across their business. Clients in 80 countries work with FICO to
increase customer loyalty and profitability, cut fraud losses, manage
credit risk, meet regulatory and competitive demands, and rapidly build
market share. FICO also helps millions of individuals manage their
credit health through the www.myFICO.com
website. Learn more about FICO at www.fico.com.
Statement Concerning Forward-Looking Information
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historical information contained herein, the statements contained in
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success of the Company’s Decision Management strategy and reengineering
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ability to continue to develop new and enhanced products and services,
its ability to recruit and retain key technical and managerial
personnel, competition, regulatory changes applicable to the use of
consumer credit and other data, the failure to realize the anticipated
benefits of any acquisitions, continuing material adverse developments
in global economic conditions, and other risks described from time to
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