In the fast-evolving landscape of finance, Santander has taken a significant step forward by leveraging the FICO Platform to enhance its customer offerings. This strategic partnership enables the bank to provide diverse financing solutions that cater to a wide array of credit profiles.
On May 7, 2025, during the FICO World 25 conference in Hollywood, Florida, FICO announced that Santander US Auto would be receiving a prestigious FICO® Decisions Award. This accolade is a testament to Santander’s innovative application of machine learning in transforming its credit risk analysis processes.
The FICO Platform serves as a catalyst for Santander US Auto, enabling the enhancement of machine learning capabilities to refine credit risk assessment. With its robust analytical framework, the platform empowers the auto lending division to craft reusable, efficient systems, significantly reducing development time.
Managing a formidable $60 billion asset portfolio and servicing over three million customers, Santander’s commitment to innovation is evident. The integration of FICO Platform allows the company to streamline its model development, bolster governance, and augment predictive analytics to adapt to the dynamic market landscape.
Bruce Jackson, head of Santander US Auto and CEO of Santander Consumer, emphasized the transformative power of FICO’s solutions, stating, “The FICO team has been instrumental in enabling the Auto business to use a unified platform to be more efficient and accelerate our timelines.” This collaboration has optimized the workload of the modeling team, allowing them to focus on interpreting analytics rather than getting bogged down by manual tasks.
The use of FICO’s technology has also been pivotal for Santander’s credit risk strategies, impacting three primary functions: approving credit applicants, managing adverse actions, and assessing default probabilities for pricing models. This multifaceted approach enables the bank to amplify its capacity for evaluating auto loan applications, a critical advantage in today’s competitive market.
Amid rising interest rates and escalating vehicle prices, affordability has become a pressing concern for many consumers. Santander recognized the need for a more agile risk assessment framework, especially as legacy tools were often slow, requiring tedious manual recalibrations that impeded timely credit analysis.
FICO’s Nikhil Behl highlighted the importance of Santander’s journey, stating, “Santander’s adoption of machine learning is an example of how lenders can modernize credit risk analysis.” His words underscore the critical need for financial institutions to rebuild their modeling processes efficiently to remain competitive.
In fact, Joe McKendrick, an analyst and contributor at Forbes, praised Santander’s comprehensive overhaul, remarking, “Santander didn’t just tweak its risk models; they transformed how it makes decisions, rendering the process faster, smarter, and more reliable.” This kind of transformation not only enhances internal efficiencies but also bolsters customer confidence in the lending process.
The recognition at the FICO® Decisions Awards is not just a pat on the back but a reflection of measurable success achieved through best practices and innovative technologies. The rigor of evaluation by seasoned judges, drawn from diverse industry backgrounds, ensures that such awards signify true excellence.
As the 2025 FICO Decisions Awards winners are celebrated, the industry takes notice of how Santander Consumer USA exemplifies the benefits of integrating cutting-edge technology with traditional lending practices. For anyone curious about the specifics of the winners and their projects, more detailed information can be found at FICO’s official site.
FICO, a pioneer since 1956 in predictive analytics, continues to push boundaries. Their solutions have not only improved operational decisions for businesses globally but have also fostered financial inclusion and enhanced customer experiences across various sectors.
