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Barbican will use the FICO Enterprise Security Score in underwriting decisions, and provide subscriptions to policy holders to promote ongoing cyber risk reduction

LONDON — January 17, 2018

HIGHLIGHTS:

  • Barbican Insurance Group has selected the FICO® Enterprise Security Score as its predictive analytic measure of cybersecurity risk for breach insurance underwriting.
  • The partnership will also provide Barbican’s insureds with access to the FICO® Enterprise Security Score Portrait product, enabling continual cyber risk mitigation.
  • In addition, Barbican will offer premium credit to all of its cyber policy holders that subscribe to the Enterprise Security Score.

Silicon Valley analytics firm FICO today announced its partnership with Barbican Insurance Group (Barbican), a multi-platform insurance group that underwrites business predominantly through its syndicates at Lloyd’s of London, and which provides global cyber insurance coverage to its insureds. Barbican will use the FICO® Enterprise Security Score to measure the cybersecurity risk of insureds, and will also provide insureds with access to the FICO® Enterprise Security Score Portrait product, which can help a firm identify and mitigate weaknesses in its defenses.

More information: http://www.fico.com/en/products/fico-enterprise-security-score

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Card processor wins FICO Decisions Award for Fraud Control for achievements using FICO Falcon Platform and adaptive analytics

LONDON — November 14, 2017

Highlights:

  • UBS Card Center stopped 74 percent more fraudulent transactions in 2016 than in 2015, and saved potential losses of CHF172 million (about $172 million) using FICO® Falcon® Platform and related FICO technology.
  • UBS Card Center has won the 2017 FICO Decisions Award for Fraud Control.
  • UBS Card Center processes roughly 25 percent of the credit cards in Switzerland.
  • FICO® Falcon® Platform is the leading card fraud solution, protecting 2.6 billion payment cards worldwide.

UBS Card Center, which processes roughly 25 percent of the credit cards in Switzerland, has cut the amount of fraud write-offs per compromised card, stopped more fraudulent transactions and reduced false-positive rates using the FICO® Falcon® Platform. The card processor stopped 74 percent more fraudulent transactions in 2016 than in 2015, and saved potential losses of CHF172 million (about $172 million). UBS Card Center achieved these gains by leveraging the latest artificial intelligence and machine learning capabilities of the Falcon Platform, including the use of FICO® Fraud Predictor with Merchant Profiles and adaptive analytics.

For its achievements, UBS Card Center has won the 2017 FICO Decisions Award for Fraud Control.

More information: http://www.fico.com/en/products/fico-falcon-platform

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SAN JOSE, CA — October 18, 2017

Highlights:

  • GVNG, a technology platform for nonprofits, will use the FICO TONBELLER® Siron® suite of anti-money laundering (AML) and know your customer (KYC) solutions.
  • GVNG chose the FICO solutions for their scalability, alert quality, cloud deployment and rapid start-up time.
  • FICO offers the Siron® AML, Siron® KYC and other modules on AWS, as part of its FICO® Analytic Cloud offerings.

Silicon Valley analytic software firm FICO announced that GVNG, a technology platform for nonprofits, will use the FICO TONBELLER® Siron® suite of anti-money laundering (AML) and know your customer (KYC) solutions. Based in Los Angeles, GVNG will use the FICO “regtech” solutions to carry out risk-based checks on people setting up charities, making donations, receiving payments and volunteering services, and to provide immediate alerts when any suspicious transactions take place.

More information: http://www.fico.com/en/risk-compliance/anti-money-laundering

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