Data management and consulting company Fair, Isaac and Co. Inc., recently announced a strategic alliance with Prime Response, an international marketing automation solution provider.
Fair, Isaac, San Rafael, CA, specializes in the financial services, personal insurance and direct marketing industries, and Prime Response, New York, provides campaign management software for the financial services industry.
The alliance — which combines business solutions from Fair, Isaac, data management and marketing solutions from its subsidiary DynaMark Inc. and marketing automation software from Prime Response — will offer customer marketing management solutions.
Fair, Isaac also announced a strategic alliance with Hewlett-Packard Co., Palo Alto, CA, that will combine their capabilities in information management, data insight and decision technology. The initial offering is expected to be an integrated package of systems, software and services.
Fair, Isaac hopes both alliances will boost its edge in the customer relationship management and accelerate its ability to offer solutions to financial institutions worldwide. The announcements were made this month at the company's InterACT '98 conference in San Francisco.
Other products debuted at the show:
* InfoBridge, an offering of data-warehousing services and analytic tools that let financial institutions interactively analyze portfolio data managed by Fair, Isaac's Triad adaptive control systems. The product will be available later this year. Using data-warehousing hardware and software in conjunction with online analytic processing (OLAP) technology, InfoBridge lets business users enhance the analytic data feedback loop with analysis of adaptive control strategies.
“InfoBridge is the next step in the evolution of data analysis for portfolio management,” said Greg Mack, business developer for InfoBridge at Fair, Isaac. “Instead of scrutinizing stacks of paper reports, InfoBridge allows financial institutions to use OLAP technology in a multidimensional data space, enabling them to dig deeper and faster into their Triad adaptive control software data.”
* Fair, Isaac and its three subsidiaries — Credit & Risk Management Associates, DynaMark and Risk Management Technologies Financial — are offering data analysis, database management and strategy consulting to financial services companies involved in mergers or acquisitions.
* Strategy Optimization Service (SOS) and Data and Modeling Service (DMS), both designed for credit grantors. SOS analyzes a company's credit policies to ensure it is being integrated with new custom models. DMS, a model development and maintenance program, helps grantors use analytics more effectively through data preparation, model redevelopment and reporting.
* The first-phase implementation of its Scaleable Component Architecture as the foundation for its next-generation software. This open architecture is designed to ease integration with current and future system environments.
* The release of Microsoft Windows NT options for its ScoreWare, StrategyWare and Search software products and a graphical-user-interface for its StrategyWare product. StrategyWare is a decision-strategy creation and management system used in new account origination. ScoreWare is a predictive model-management system. Search is a credit bureau report-retrieval, analysis, communications and control software.
Lastly, Fair, Isaac and DynaMark this month introduced TargetScore, which is designed to help personal insurance companies focus their marketing efforts and promotions on their most profitable automobile and homeowner accounts.
According to Fair, Isaac, insurers can segment their prospect lists for more profitable customer acquisition and cross-selling by providing a marketing score for each consumer on a company's campaign list based on a demographic data applied to the lists by DynaMark and analyze them using industry-specific scoring models developed by Fair, Isaac. The score segments returned by DynaMark help marketers predict which prospects will be the best performers in terms of risk and retention.