Shop Direct Group, the UK’s largest online and home shopping retailer, is investing in new customer analytics in a bid to segment shoppers more precisely and sharpen its credit decisions.
The group serves customers in the UK, Ireland and continental Europe.
The company is implementing the latest versions of FICO TRIAD Customer Manager and FICO Decision Optimizer, along with FICO decision models and optimisation methodology.
TRIAD Customer Manager is claimed to be the industry’s leading credit customer management solution, with strategy design and visualisation capabilities to drive customer treatment decisions.
Shop Direct will use TRIAD Customer Manager to get to know its customers better and formulate offers to match their buying behavior.
TRIAD Customer Manager will also enable the retailer to manage multiple accounts of a single customer as one relationship.
“Shop Direct Group is dedicated to improving every aspect of the customer experience,” said David Poole, Shop Direct financial services’ chief operating officer. “Our long history with FICO has shown us they have the advanced analytic solutions, knowledge and skill to help us deliver on that promise.”
The FICO optimisation solutions will be used initially for optimising credit lines, with plans to extend optimisation to other areas such as marketing, originations and collections.
“With competition intensifying online, retailers need the most sophisticated tools to cultivate customer loyalty while managing their credit exposure,” said Mike Gordon, FICO vice president and managing director for Europe, the Middle East and Africa.
“We’re confident our analytics and optimisation solutions will help differentiate Shop Direct in the eyes of its customers, and give it a meaningful advantage over its competitors.”