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FICO (Fair Isaac)

Risk Management: The East-West Geographic Divide in Bank Priorities

FICO is seeing a stark a difference in regional risk management when comparing banks in Europe and North America to banks in developing countries throughout Asia. Europe and North America: Banks in these two regions were hit hard by the recession that began in 2008. Many banks failed, and most of the surviving banks hunkered down. The risk tolerance at ... Read More »

EMV Adoption in the US: Right on Target (or Not)

A frequently asked question concerning EMV Chip Card Technology is about the US lagging behind Europe in adopting more secure credit card technology? The Target data breach has brought discussion of EMV technology into the mainstream.  EMV stands for Europay, MasterCard and Visa.  It is a security standard for a variety of payment cards including, credit and charge cards, traditional ... Read More »

Card Fraud Trends and Predictions: Bank ATMs a Growing Hotspot

The chart below reflects ATM points of compromise within the United States that were analyzed by FICO® Card Alert Service.  Looking at overall volume of activity, FICO instantly sees a continued increase in card skimming at bank-owned ATMs over the past couple years.  As this segment increases each year, point-of-sale (POS) card and PIN skimming has somewhat diminished in comparison. ... Read More »

FICO: Fall in Russian Consumers’ Credit Health Halted – For Now

The two-year decline in Russian’s credit health has stabilized. FICO and the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau, announced new figures showing that Russian borrowers’ credit repayment delinquencies remained stable from October 2013 to January 2014. This was the first time in 18 months that the country’s FICO® Credit Health Index did not decrease from the ... Read More »

Asia Pacific Chief Risk Officers Navigate New Waters

At a panel discussion which FICO hosted in a recent conference in Indonesia, an Australian attendee stated that today’s CRO needs to be “part lawyer, part risk manager and part product manager to succeed.”  Clearly, the role of the CRO has gone from corporate policemen to something far more operational in nature. An Indian delegate agreed, saying that he felt ... Read More »

FICO Named North America’s Top Risk Technology Provider in Chartis RiskTech100® 2014 Rankings

FICO (NYSE:FICO) is ranked #17 in Chartis’s RiskTech100®2014 Rankings, and the category leader for North America.   The annual RiskTech100 report is the most comprehensive and prestigious global study of risk technology vendors.  It covers a spectrum of risk technologies and disciplines that includes credit risk, operational risk, market risk, asset liability management (ALM) and liquidity risk, trading risk, financial crime, ... Read More »

FICO Fiscal Q1 2014 Revenues Drop by 3%

FICO reported revenues of $184.3 million for the quarter as compared to $190.0 million reported in the prior year period, a decrease of 3% (Fiscal Quarter ending December 31st, 2013) Revenues for the company’s three operating segments were as follows: Applications revenues, which include the company’s preconfigured decision management applications and associated professional services, were $111.9 million in the first ... Read More »

FICO: European Risk Managers to Focus on Lending

Regulatory compliance and raising capital have been at the top of risk managers’ To Do lists for years.  FICO’s latest survey of European risk managers shows that is starting to change — bankers now say increasing lending will be a greater priority this year. New lending to consumers is a 2014 priority for 85% of our respondents and new lending ... Read More »

Non-Monetary Clicks Betray Fraudsters in Retail Banking

FICO has used non-monetary variables in two recent online banking models for international banks, leading to significant added fraud detection. Last summer, a $1.5 million bank/wire fraud case garnered quite a few news headlines. A bank account of a California-based escrow firm was hacked, and three payments totaling $1.5 million were wired to accounts in China and Russia. Only $432,215 was recovered, ... Read More »

FICO Survey Finds Consumers Worldwide Want More Banking via Smartphones

Account balances and security alerts are the most requested features FICO has released the results of an international survey of smartphone consumers showing that they want to do much more mobile banking than most of today’s smartphone apps permit. While the most requested functionality is the ability to check account balances (75%), more than half of respondents want to receive notifications of ... Read More »

Fraud Predictions for 2014: Beware of Card Not Present Transactions

According to FICO 2013 was the year of the mass retailer data compromise for many in the in the payment card fraud space.  With the year coming to a close, FICO wonders what next year’s fraud targets will be.  Data breaches and cyber attacks on social networking and bargain shopper websites have delivered a few unpleasant surprises in recent history ... Read More »

FICO Analytics Predictions for 2014

Andrew Jennings stated in his latest Bankinganalyticsblog.fico.com that 2013 has been quite a year in banking analytics – regulatory challenges, growth opportunities, new fraud threats, and the surge of mobile as the hot channel for customer engagement. He expects 2014 to bring even more change.  Here are his top five predictions for banking analytics in 2014. Big Data winners and ... Read More »

Cyber Monday for Cyber Crooks

Cyber Monday got its name in the US in 2005.  It’s less a holiday than a marketing ploy to encourage shoppers to spend following the famous Black Friday sales after Thanksgiving.  First you spend in the malls, then when you head back to work you spend online. In the past almost all online retailers have seen their sales increase dramatically ... Read More »

Russian Credit Health Nearing Four-Year Low

Russian borrowers’ credit health reached nearly a four-year low in October. The country’s FICO® Credit Health Index fell to 102, down from 104 last quarter, and just 2 points above the low experienced in late 2009. This information was published by FICO with our partner, the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau. Since April 2012, the ... Read More »

FICO: Plan Ahead for Potential Data Breaches

Does your company have a crisis plan?  The unfortunate truth is that for every preemptive countermeasure that you introduce, devious criminals will seek and may eventually find a way around it. That is why a truly best-practice approach includes proactively establishing a crisis plan for what to do if a data breach occurs. A data breach crisis plan should include: ... Read More »

FICO Introduces FICO® Score Economic Calibration Service in Co-operation with Moody’s Analytics

Predicting Impact of Future Economic Fluctuations on Consumer Credit Risk To meet the needs of lenders to have a reliable “crystal ball” into the impact of future changes in the economy on consumers, FICO introduces FICO® Score Economic Calibration Service.  This new product allows lenders to better understand how different economic scenarios, provided by Moody’s Analytics, a leading economic forecasting ... Read More »