A price elasticity model enables the product team to set deposit rates with a sound understanding of the expected performance from the rate strategy

Ørsted, the world's leading offshore wind farm developer, has used FICO® Xpress Optimization to develop a novel digital energy optimization solution.

Until now, it has been very difficult for a lender to understand the pressures on any consumer in terms of their ability to absorb more credit and pay off the required instalments, without placing unbearable stress on their finances.

You can’t control the sun, the wind or the snow. But using predictive and prescriptive analytics, along with optimization algorithms, you can do the next best thing.

What should you expect to gain from deposit price elasticity models and what can you do with them to maximize benefit to the business?

Lenders are looking for new ways to connect with the estimated 3 billion people worldwide who fall outside the credit ma...