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FICO (Fair Isaac)

FICO Joins Initiative to Launch SaaS-Based Fraud Management Platform for Spain and Portugal

FICO (NYSE:FICO) announced its participation in a SaaS-based platform created to fight credit fraud in Spain and Portugal.  The platform has been developed by CONFIRMA Sistemas de Informacion, a company formed with SIGNE and private investors, with FICO as a minority investor. The fraud platform is scheduled to be available in January 2013. The fraud platform aims to help lenders ... Read More »

Cyber Security Awareness: Where Should Awareness Start?

Start with grasping the significance:  Most people know the terms — malware, spam, virus, trojan, denial of service, phishing, etc. and so may be deluded into thinking they know how these scams work.  In fact,  the techniques used in cybercrime represent levels of sophistication far beyond the grasp of most people and too many businesses. So how is cyber security ... Read More »

FICO Again Ranked Among Top 25 Global Financial Technology Providers by American Banker, Bank Technology News and IDC Financial Insights

FICO (NYSE: FICO) announced that it has been named one of the Top 25 Global Financial Technology Companies in FinTech, a special report from American Banker, Bank Technology News and IDC Financial Insights.  FICO has now been included in the FinTech 100 nine years in a row, underscoring the company’s consistent growth and contributions to banking and insurance.  FICO makes ... Read More »

Equifax and FICO Launch New Risk Score in UK

Equifax and FICO have launched a new risk score to identify which UK consumers can handle more credit. FICO, a provider of analytics and decision management technology, has teamed up with Equifax to create a new tool called FICO Credit Capacity Index, which is built on Equifax’s risk score, Risk Navigator 4. The results of initial analysis have shown that ... Read More »

FICO: Putting Some “Wow” Into the War on Fraud

Coming hot on the heels of the announcement of FICO’s acquisition of Adeptra, the Asia Pacific Heads of Fraud conference in Phuket recently featured a demonstration of how FICO and Adeptra solutions bring new power to the fight against fraud. More than 20 banks from places as diverse as India, China, Malaysia, Indonesia and Viet Nam met with international fraud and contact management ... Read More »

FICO Unleashes New Analytics for Fighting America’s $700+ Billion Healthcare Fraud, Waste and Abuse Problem

FICO Insurance Fraud Manager 3.3 adds link analysis, facility model to boost detection of fraud rings and suspicious providers FICO (NYSE:FICO) released the latest version of FICO® Insurance Fraud Manager, the most advanced system for detecting and preventing healthcare insurance fraud, waste and abuse.  FICO® Insurance Fraud Manager 3.3 integrates link analysis with business rules and predictive analytics, and also ... Read More »

What is “Alternative” Credit Data?

When one stops to think about it, the term “alternative credit data” is a catch-all phrase to describe data that is not currently reported on mainstream credit reports.  But what, in reality, is alternative about it? For millions of people, it may not be alternative data but the only credit record they have.  For these consumers, it would seem it ... Read More »

FICO Debuts Analytics-Powered Marketing Solutions for Transforming Big Data into Big Marketing

FICO (NYSE: FICO) announced analytics-powered “Big Marketing” solutions that link predictive analytics, decision optimization and Big Data with state-of-the-art interactive customer dialogue management.  The new solutions enable marketers to plan, execute and manage high-volume campaigns precisely targeted to individual customers, balancing the trade-offs between customer preference and business objectives by using advanced analytics.  The first two new Big Marketing solutions ... Read More »

FICO: Smart Ideas About Enterprise Fraud from the Asia Summit

Fraud experts from major Asian institutions met in Phuket where they heard from some of FICO’s leading fraud consultants and scientists from around the world, as well as some of the delegates’ most experienced peers from around the Asia Pacific region, about latest fraud trends and best practice in detection and prevention. Delegates heard how FICO’s differentiated enterprise strategy — ... Read More »

FICO Awarded Seven Patents for Predictive Analytics and Decision Management Technology

FICO Labs team members receive patents for innovations in healthcare insurance fraud detection, decision management and credit scoring FICO (NYSE: FICO) announced that it has been awarded seven patents by the U.S. Patent and Trademark Office, bringing its patent portfolio to 128 U.S. and foreign patents.  These patents were awarded to FICO Labs team members for inventions underlying FICO’s industry-leading ... Read More »

FICO: European Consumers Still Careful About Managing Credit

Despite economic troubles across much of Europe, there are clear indicators that consumers continue to mind their credit very closely.   FICO released two reports, on the UK and Russia, that show positive trends for consumer credit management. The FICO report on quarterly UK cards data showed that in the second quarter of 2012 average total sales per “classic” card reached their second-highest point in two ... Read More »

FICO: Enterprise Fraud More Critical than Ever

Enterprise fraud management is more critical than ever, given the continued evolution of fraud attacks and the new emphasis on fraud protection as a customer service differentiator.  Better fraud management, ultimately, will make a bank more attractive to customers. And that’s no joke.  To read the full story click on the link below. Source:  FICO Banking Analytics Blog Read More »

Research Shows Spikes in US Card Fraud

FICO has released new research from its FICO® Falcon® Fraud Consortium in the US.  It revealed some intriguing credit and debit card fraud trends in the data snapshot we studied, from January 2010 to September 2011. Online, mail and telephone order fraud grew at twice the rate of counterfeit fraud. Fraudsters are clearly exploiting the growth of online shopping, and the fact ... Read More »

The Chip and Sophisticated Fraud Prediction Systems Reducing Payment Card Fraud in Europe

According to the latest FICO banking analytics blog, 25 years ago, European payment card fraud losses were at 15 basis points.  Chances are that the actual numbers were considerably higher, since fraud reporting had not developed to the level it is today.   Since then, commercial payment card volume has increased ten-fold.  Such growth is usually accompanied by an increase in ... Read More »

Sharp Contrasts in Growth of Analytics, Credit Information and Rating Services

We previously wrote that analytics and platforms are becoming key differentiators in business information services.  2011 and first half 2012 revenue growth figures of key players in credit information and rating services provide a stark contrast to those companies who do not have a substantial stake in analytics.   Analytical services are growing at a very healthy double digit rate. Consumer ... Read More »

FICO Acquires Adeptra, Adding Real-Time, Mobile Customer Engagement and Risk Intervention Capabilities to Decision Management Applications

FICO announced it has entered into a definitive agreement to acquire Adeptra Ltd., a leader in cloud-based customer engagement and risk intervention solutions based in Reading, UK and Norwalk, Connecticut. Adeptra’s SaaS (software as a service) platform enables leading financial services institutions and other businesses to take advantage of the explosion in mobile communication in order to manage risk, fight ... Read More »

Fraud Analytics That Adapt on the Fly

A major implication of Big Data, is that analytics must rely less on persistent (historical) data and instead adjust dynamically in the stream. This is particularly true for fraud analytics, given the ever-changing nature of fraud. Development of the traditional neural network fraud model requires access to high-quality historical data. This presents a challenge in emerging markets, which tend to ... Read More »