Volvo Cars has used the cloud-hosted FICO® Platform to digitize and accelerate the customer onboarding process for its new vehicle subscription service, Care by Volvo. By automating the process, Volvo has cut the credit check process on applicants from three days down to seconds.
Care by Volvo is a vehicle subscription service designed to let customers enjoy the benefits of a new Volvo, without the challenges of owning one. For a fixed monthly fee, Volvo provides subscribers with a brand-new Volvo and covers all regular service, maintenance costs and breakdown cover. The service was introduced to reflect the shift in consumer preference toward car usage and away from absolute ownership.
Volvo adopted various components of the FICO Platform — FICO® Decision Modeler, FICO® Application Studio, FICO® Data Orchestrator Data Acquisition Module — in a cloud-hosted version for maximum efficiency.