AMAG Leasing AG, the largest B2B and B2C captive car leasing company in Switzerland, has improved its credit-granting process following its adoption of the FICO Platform, the company said in a statement. 

AMAG, which has more than 150,000 leasing contracts under management, has automated large parts of its decision-making procedures through its FICO partnership, allowing it to handle 50 per cent more applications with the same workforce. 

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FICO’s in-the-cloud decision-making IT platform allows credit managers to implement policies themselves in hours, while more complex changes to business rules, which used to take up to two months to apply, can be completed in less than a week, the company said.

In a statement, AMAG Leasing AG said the company had experienced issues in the past with being able to react to changes in the market quickly, as their incumbent rules engine required changes to be coded by a third-party supplier. This meant that adjustments took time and the company lacked the flexibility to react to customer expectations. 

Martin Meyer, managing director at AMAG Leasing AG, said: “Our strategic goal was to increase the digitalisation and automation of our leasing process to allow us to meet our growth target of doubling our yearly application volume within the next few years.

“The move to a cloud-based decisioning platform has allowed us to scale our business, bring greater control in-house and plug us into leading technology that will get better through updates every year.”

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Steve Hadaway, EMEA general manager for FICO, said: “AMAG Leasing AG has accelerated their car leasing business with a transformational cloud deployment.”

“I am particularly proud of the engagement taking place remotely with not a single physical meeting taking place. Not only did everybody show great flexibility and adaptation. AMAG Leasing AG also demonstrated great trust in us and, as a result, has very quickly optimised a critical business process.”

AMAG Group AG is a Swiss company. AMAG Import AG imports and distributes vehicles from Volkswagen, Audi, SEAT, ŠKODA, CUPRA and VW commercial vehicles through the largest network of agents in Switzerland (more than 600 dealers and service partners). The AMAG Group also includes AMAG Leasing AG as a financial services provider.

FICO was founded in 1956 and is based in Silicon Valley. It specialises in predictive analytics and data science to improve operational decisions.