StepChange and FICO agree debt advice platform partnership

21st November 2023

Global analytics software specialist FICO has announced that debt advice charity,StepChange will use a new platform to help assess people in problem debt.

StepChange will use the flexibility and hyper-personalisation of the platform to recommend the best individual outcome to each consumer, with the aim of helping them to become debt-free.

Matt Bentley, Head of Change and Enterprise Architecture at StepChange said “As part of our back-office transformation, we saw the need to improve the flexibility and capability of our existing decision engine to be able to centralize our logic from three disparate systems — our old rules platform did not give us the capabilities we need to be fit for the future.”

 “We also needed to simplify the management of strategies, and do more rigorous testing of new strategies. After a review of the market, we found that FICO Platform gave us the greatest capabilities in all these areas. The charity’s  commitment to continuing to provide hyper-personalised debt advice and being able to explain customer decisions in real time  enables us to achieve the best outcome for every consumer.”

“It’s important to us that FICO® Platform has a microservice-oriented architecture — we can call up the decision service when needed in our processes,” Bentley said. “This is a much more manageable approach that fits perfectly in our new IT ecosystem. We will be able to pull in more data sets than our legacy system can handle, improving our customer advice. FICO Platform is also a very user-friendly platform, which reduces our training needs.”

Matt Cox, Vice President and General Manager for FICO in EMEA said “StepChange performs an incredibly important public service by providing free debt advice in an impartial way to anyone who needs it.”

“That service has never been more important than now, when inflation is high, energy costs are rising and many people find it hard to manage their payments and debt. We are proud to partner with them to make sure people can get the most relevant, most personalized recommendations possible.”