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SAN JOSE AND TORONTO — February 12, 2018 — Silicon Valley analytics software firm, FICO (NYSE: FICO), today announces that Kevin Deveau has been appointed North American Insurance Practice Lead for Insurance, which covers Life & Annuity (L & A), Health, Property & Casualty (P&C) and Reinsurance. Deveau will also continue overseeing the company’s Canadian operations as vice president and managing director of FICO Canada.

In his new role, Deveau will be responsible for strategic business development and growing FICO’s footprint in North America’s insurance sector. In particular, his leadership will expand FICO’s cloud-based decision management and analytics offerings to the insurance industry to deploy faster, high-impact capabilities aimed at enhancing underwriting, claims and customer interaction. 

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Card testing also rises significantly in APAC in 2017

SINGAPORE — February 7, 2018

HIGHLIGHTS:

  • 1 in 5 APAC banks say that the number of fraudulent applications for credit cards now sits between five to 10 percent of all applications.
  • 44 percent of banks believe that social platforms and mobile apps are the most likely to suffer a data breach.
  • Half of banking respondents reported an increase in card testing of 25-50 percent. A further quarter said it was even higher at 50-100 percent.

For more information: http://www.fico.com/en/latest-thinking/white-papers/boosting-application-fraud-detection-fico-identity-resolution-engine

Six in ten banks in Asia Pacific say that they are experiencing application fraud using synthetic identities according to a recent poll by FICO, and a further one in five banks say that the number of fraudulent applications for credit cards now sits between five to 10 percent of all applications.

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German baker wins FICO Decisions Award for Artificial Intelligence, Machine Learning and Optimization for reducing transportation and production costs using FICO Xpress Optimization

BERLIN — February 6, 2018

Highlights:

  • Harry-Brot is recognized for its cutting-edge use of optimization technology in production and distribution operations with a 2017 FICO Decisions Award for AI, Machine Learning & Optimization.
  • Harry-Brot is one of the biggest German producers of bread and has increased sales by close to 30 percent in the past five years.
  • Harry-Brot used FICO® Xpress Optimization to reduce costs 3.57 percent for production and 1.81 percent for transportation, resulting in an overall cost savings of 3.4 percent, exceeding their investment by more than a hundred times in the first year.

FICO (NYSE:FICO) today announced Harry-Brot, Germany’s largest producer of baked goods, has won a FICO Decisions Award for its use of advanced optimization technology to reduce costs. 

Harry-Brot produces roughly 1,000 varieties of baked goods that are distributed to 9,300 German stores. The baker runs 73 different production lines across nine sites; each production line is restricted to a specific set of products, speed of production, and capacity. 

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