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FICO (Fair Isaac)

FICO:  Fast Track Analytics Application Development

Here is useful advice from FICO concerning analytics application development:  From days to minutes:  A payment processor decreased cycle times from days to minutes, lowered cost of operations, achieved a 60% reduction in manual reviews, and reduced fraud losses— all with greater business control. … all within three months: A large international micro-loan provider re-platformed an entire originations process while ... Read More »

FICO: Why Analytic Innovation Matters

Scott Zoldi, Vice President of Analytic Science at FICO recently returned from Payments 2015 where he was invited to speak on advances in behavior analytics—specifically fraud analytics that differentiate unusual customer behavior from fraud, including collaborative profiling that anticipates new previously unseen behavior. Here are his observations and recommendations: This analytic innovation is just one of 92 patent applications pending in ... Read More »

Data Breaches — We Should Focus on How, Not Who

In cybersecurity, knowing your adversaries’ techniques and tactics can help you better defend and prevent successful attacks. It’s an important part of your strategy.  But when attribution becomes the focus of the story, we risk not examining how an attacker was successful. Looking at a breach from a “whodunit” point of view makes for better headlines and helps sell threat ... Read More »

Payment Security: MIDAS Alliance Launched in Europe

MIDAS Alliance Created to Solve Payments Security Challenges Raised by Mobile Wallet Security industry collaboration seeks to create solution before August deadline for new payment rules. While the introduction of the mobile wallet has created a lot of excitement across the retail and financial services industries, the European Central Bank (ECB) is pushing for greater security standards. When the ECB’s ... Read More »

Using Unreliable Data Won’t Help Credit Invisibles

American Banker recently published an Op-Ed from Jim Wehmann, head of FICO’s Scores business. In it, he delineates some of the risks associated with the approach being promoted by those claiming that tens of millions of previously “invisible” consumers can qualify for mortgages based on data that exists today in their credit bureau files. An important debate is occurring in the mortgage industry ... Read More »

Russians’ Credit Performance Is Worst in Seven Years, According to Data from FICO and NBKI

FICO® Credit Health Index fell in April to seven-year low 14.2 percent of Russian credit accounts are delinquent, twice as many as in January 2012 FICO Credit Health Index measures the amount of delinquent consumer loans and credit cards reported to NBKI, Russia’s largest credit bureau The credit performance of Russian consumers reached a seven-year low last month, according to data from FICO, the predictive analytics and decision ... Read More »

Small Business Finance:  The Security of Having Funds on Hand

Fico recently set down with Kathryn Petralia, cofounder and head of operations  at Kabbage, to talk about how origination management supports her business. Q: First, how is Kabbage different from traditional lenders? Kathryn: The biggest difference is that we were established in the digital age, so data is at our core. We fill a niche in that we focus on ... Read More »

FICO Establishes New Office in Stockholm

FICO has been expanding its business in the Nordics, working with important regional banks including EnterCard, Gjensidige and Nordea. The company helps these firms and others use advanced analytics to fight fraud, manage customers and improve collections.FICO (NYSE:FICO) announced it is opening an office in Stockholm, Sweden. At a launch event on April 14, Wayne Huyard, executive vice president for Sales, ... Read More »

FICO Offers Consumers Access to 19 Versions of Most Used Scores by Lenders

FICO (NYSE:FICO) announced it is providing consumers with access to the 19 most commonly used versions of the FICO® Score from the three major credit bureaus at myFICO.com. Together, these 19 score versions represent approximately 95 percent of FICO® Scores sold and used by lenders. The offering from FICO enables consumers to quickly understand their overall credit health. Consumers can view their base FICO® Score 8 ... Read More »

FICO, LexisNexis Risk Solutions & Equifax Joining to Generate Trusted Alternative Data Scores for Millions More Americans

FICO will use LexisNexis and Equifax alternative data to create scores for potentially 15 million unbanked and under-banked consumers FICO, LexisNexis® Risk Solutions, and Equifax today described details of a pilot program currently underway.  The pilot program allows 12 of the largest credit card issuers in the U.S. to use alternative data to identify creditworthy individuals who would otherwise be ... Read More »

FICO Debuts Purpose-Built Big Data Analytics Environment

FICO Big Data Analyzer reduces Hadoop complexity, putting powerful analytics in the hands of a broad range of business users and analysts FICO announced the availability of FICO® Big Data Analyzer, a purpose-built analytics environment for a new generation of data professionals. Big Data Analyzer empowers a broad range of users to collaboratively explore data and discover new insights from any type and ... Read More »

FICO Brings Self-Learning Analytics to Cyber Security

FICO leverages its patented fraud detection and streaming analytic technologies to detect cyber security threats as they occur FICO (NYSE: FICO) announced the availability of the FICO® Cyber Security Analytics solution. This solution leverages decades of research in streaming analytics technologies, as well as new advances in self-learning models, to detect emerging and evolving cyber threats in real time. “As ... Read More »

The Customer Impact of Fraud: Make or Break for Banks

With all the news about credit card breaches at major US retailers, one might assume that a huge percentage of the population is dealing with fraud on their credit and debit cards. Interestingly, FICO recently did a consumer research study and we found that only 15% of those surveyed had experienced any sort of fraud (credit, debit, checking) in the past 12 ... Read More »

FICO Announces New Data Management Platform

FICO Data Management Integration Platform analyzes data in stream to accelerate timely and actionable insights and decisions FICO announced the launch of FICO® Data Management Integration Platform, a streaming analytics and real-time distributed processing platform that ingests, normalizes, correlates and distills Big Data as it is being generated. FICO Data Management Integration Platform provides a solution to deliver timely and actionable insights to ... Read More »

FICO and TransUnion Renew Agreement to Provide FICO® Scores to U.S. Financial Institutions and Businesses

Long-term agreement gives lenders flexibility in making the best risk management decisions for their businesses FICO and TransUnion today announced a renewed multi-year agreement to provide FICO® Scores to the U.S. banking community. TransUnion will continue reselling FICO Scores and provide FICO access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses. As part ... Read More »