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Interactive map from FICO and Euromonitor International shows UK had highest card fraud losses in 19 countries surveyed

LONDON — June 29, 2017

HIGHLIGHTS:

  • Total card fraud losses for 19 European countries studied reached nearly €1.8 billion
  • UK card fraud rose 9 percent in 2016, to £618 million
  • Interactive online map from FICO and Euromonitor International compares fraud loss trends across the region

Analytic software firm FICO today released an interactive map of European card fraud, which shows that card fraud losses for 19 European countries hit approximately 1.8 billion, a new high. The UK saw the highest losses at £618 million, a 9 percent rise over 2015, topping the previous peak in card fraud, set in 2008 after the introduction of chip and PIN.

More information: www.fico.com/europeanfraud

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Independent research firm cites data, analytics and governance challenges for financial institutions in meeting new accounting standard

LONDON — June 22, 2017

HIGHLIGHTS:

  • FICO was named a Category Leader in IFRS 9 solutions by research firm Chartis Research.
  • IFRS 9 is a transformational event for financial institutions, changing the way they hold provisions against future credit losses.
  • FICO’s solution combines precise analytics with high-speed decision management software and consulting from industry experts in compliance and risk management.

Analytic software firm FICO today announced that it has been named a Category Leader in IFRS 9 solutions by research firm Chartis. The Chartis Research report IFRS 9 Technology Solutions: Market Update 2017 cites the steep challenges financial institutions face in meeting the accounting regulation, which will cause banks to hold more capital in the form of provisions against possible credit losses.

More information: http://www.fico.com/en/solution/fico-ifrs-9-impairment-management

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41 percent of APAC banks have a customer growth target of 20 percent or more for 2017

SINGAPORE — 22 JUNE 2017 

HIGHLIGHTS:

  • Inability to accurately assess the credit risk of unbanked applicants constrains business growth for 77 percent of respondents
  • 41 percent of APAC banks have a customer growth target of 20 percent or more for 2017
  • 39 percent of respondents say their credit assessment process is still mostly manual

For more information: http://www.fico.com/financialinclusion/

In a recent poll of chief risk officers from banks across Asia Pacific, 77 percent of respondents told Silicon Valley analytics firm FICO that the inability to accurately assess customers’ credit risk constrains business growth. 

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