SPSS - Customers

IKANO Finans A/S

Situation

IKANO Finans A/S in Norway is part of the European IKANO Corporation owned by the Kamprad family, IKEA’s founder. The company, which was established in 1991, has a long history of offering credit cards in collaboration with retail chains. The KASH® Visa is part of the company’s new focus on credit cards.

Challenge

Competition is strong in the credit card industry—a market characterized by large volumes of transactions combined with a huge need to automate decision processes in the value chain.

IKANO Finans offers specialized solutions for both retail chains and product vendors. By fulfilling the needs of each partner, IKANO Finans can focus on building sales and branded products.

Risk management must be handled both at transactional and portfolio levels. Not until each transaction is controlled is the portfolio as a whole under control.

Solution

With its combined analytical and operational capabilities, SPSS Inc.'s predictive analytics software enables IKANO Finans to control risk management. By utilizing the power of modern applied analytics, IKANO Finans matures risk management from simply controlling risk to fully utilizing risk as a key profit parameter of the financial transactions.

Interested in IKANO Finans A/S? Download the PDF

Results

IKANO Finans now can automatically handle larger numbers of customer applications and provide an answer via the Web in a matter of seconds without human interaction.

“SPSS Inc.'s predictive analytics software has been integrated into our business processes and has proven to be absolutely necessary for processing applications and ensuring that they are handled with the consistency we need,” said Nils Staib, Credit Manager at IKANO Finans. “Controlling the risk management aspect has given us an excellent opportunity to utilize our time more productively by focusing on customers and handling them in the best possible way.”