# ESG in Finance: FICO Platform Helps Hoist Finance Make Debt Resolution 97% Greener  Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-11-03 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Will Cop26 Drive Digitisation Strategies for Financial Meta Description: Discover how Hoist Finance leverages FICO's technology to streamline operations, reduce carbon footprint, and align with environmental goals post-Cop26. URL: https://financedigest.com/esg-in-finance-fico-platform-helps-hoist-finance-make-debt-resolution-97-greenerhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/financial-report-sbi-300200117-1-1736837486754-compressed.jpg) _Will Cop26 be the catalyst for financial institutions to apply digitisation strategies to back-office operations?_ Pressure is mounting on financial organisations to quickly improve their efforts in the fight against climate change. A statement from the UN’s annual climate change conference (Cop26) says every company, financial firm and bank must change to meet climate goalsi. It adds that every [financial decision](https://www.financedigest.com/smart365-to-unite-advisers-and-technology-for-better-financial-decisions.html "Smart365 to unite advisers and technology for better financial decisions") has to take the environment into account. [Consumers and regulators are increasingly](https://www.financedigest.com/increasing-consumer-awareness-to-fuel-adoption-of-trailer-suspension-system-market.html "Increasing Consumer Awareness to Fuel Adoption of Trailer Suspension System Market") looking for organisations to reduce their social and environmental footprints. In Deloitte’s recent [Better Banking Survey](https://www2.deloitte.com/uk/en/pages/press-releases/articles/making-an-impact-esg-factors-are-a-priority-for-customers-when-choosing-a-bank.html), 70 percent of customers said they would be more likely to choose a bank that had a positive social and environmental impact. And the [Bank of England has already aligned its monetary policy](https://www.financedigest.com/what-to-make-of-the-headlines-brexit-and-bank-of-england-policy-eba-bank-stress-tests.html "What to make of the headlines? Brexit and Bank of England policy, EBA bank stress tests") toolkit with the government’s net zero target. Ahead of Cop26, global debt [management company Hoist Finance](https://www.financedigest.com/how-parents-can-help-students-manage-their-finances.html "How Parents Can Help Students Manage their Finances") has set an example of how to streamline efficiencies to reduce dependency on resources. Using [FICO® Platform](https://www.fico.com/en/platform), Hoist has unified decisioning across all regions, delivering a dramatic improvement in business efficiency and customer experience, leveraging all available data sources and the latest in AI innovation. Before working with FICO, Hoist [managed customers by using 14 different systems](https://www.financedigest.com/why-a-rules-management-system-can-untie-financial-services-hands.html "Why a rules management system can untie financial services’ hands"). The shift [to FICO’s single decisioning platform](https://www.financedigest.com/fico-provides-decisioning-platform-for-smartphone-only-buddybank-in-italy.html "FICO Provides Decisioning Platform for Smartphone-Only buddybank in Italy") enables Hoist to save 442 tons of carbon for each 10% of customers using the automated process. This reduces the [organisation’s carbon footprint for every digital](https://www.financedigest.com/why-an-orchestrated-digital-identity-strategy-is-vital-for-financial-organisations-in-fighting-fraud.html "Why an orchestrated digital identity strategy is vital for financial organisations in fighting fraud") resolution by 97%. In the UK, Hoist can now complete 33% of debt resolution [cases digitally](https://www.financedigest.com/the-case-for-banks-to-digitally-transform-iterating-out-of-lockdown.html "The Case for Banks to Digitally Transform: Iterating out of lockdown"). “FICO’s technology puts us in a position to streamline operations and standardise our approach, whilst maintaining best-in-class standards for the borrower experience,” said **[Fabian Zwanzig, head of operations for Germany](https://www.financedigest.com/first-foreign-covid-vaccines-head-to-china-from-germany.html "First foreign COVID vaccines head to China from Germany") at Hoist Finance**. “As an environmentally focused organisation supporting the UN’s sustainable development goals, Hoist was keen to add to its operational and [efficiency savings by moving](https://www.financedigest.com/tips-for-moving-office-how-to-use-packing-boxes-efficiently.html "Tips for Moving Office: How to Use Packing Boxes Efficiently") to a unified platform,” added **Steve Hadaway, vice president and general manager for EMEA at FICO**. “By taking this step towards a more sustainable way of working, Hoist can [stay ahead](https://www.financedigest.com/staying-ahead-of-risk-this-black-friday.html "Staying Ahead of Risk This Black Friday") of potential environmental regulation and shouldn’t need wholescale changes as new rules are implemented. We are proud to help it achieve its environmental goals and expect many other [financial service](https://www.financedigest.com/the-future-of-financial-services-tech-evolution-not-revolution.html "The future of financial services: Tech evolution not revolution ") providers to follow Hoist’s lead.” For its achievements, Hoist Finance and FICO won the Best Use of Technology category in the [Credit Excellence Awards 2021](https://www.ccrmagazine.com/the-credit-excellence-awards/). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---