UrBC, Yekaterinburg, September 29, 2016. Metcombank is now using National Credit History Bureau’s data on a particular loan applicant in its own decision-making system, the bank’s press service reports.

The mathematical model that the bank’s scoring system is based upon was designed by the company FICO. Incorporating the Bureau’s data in their own procedures will protect the bank against unscrupulous borrowers, enhance retail lending efficiency, and provide better service for bona fide customers.

‘The Bureau’s industrial scoring test results proved a very efficient tool in ‘compartmentalizing’ loan applicants throughout the entire process. Metcombank used to rely on FICO 2.0, which is also a very good system. However, a test run on FICO 3.0 showed that it is better than anything we could hope for. This system is perfectly suited for assessing risks in every particular customer segment, so we hope it will ensure faster and better service for bona fide customers,’ says the bank’s Retail Lending Risk Management Director Vitaly Kostyukevich.

According to FICO Scoring Director Elena Koneva, FICO 3 offers forecasts based on evaluation of hundreds of data types from tens of millions of credit card accounts provided by the Bureau.