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Thousands of global banks to benefit from machine learning that more accurately detects fraud in online and mobile purchases

SAN JOSE, Calif. – October 3, 2017

Highlights:

  • FICO is releasing new payment card fraud detection models focused on making card-not-present (CNP) transactions more convenient and secure.
  • CNP fraud is the leading form of card fraud in most countries
  • Based on analysis of more than 4 billion transactions, the new models can significantly reduce CNP fraud losses without increasing false positive rates.
  • The new models have been quantifiably proven to double the detection of fraudulent, high-value CNP transactions on the first attempted transaction.
  • The models will be released to FICO® Falcon® Platform customers at no additional charge. The FICO Falcon Platform protects more than 2.6 billion payment cards worldwide.

Silicon Valley analytic software firm FICO today announced that its new Falcon consortium models for payment card fraud detection include machine learning innovations that improve card-not-present (CNP) fraud detection by 30% without increasing the false positive rate, a standard metric for fraud model performance. These new Falcon consortium models for both credit and debit cards will be available first for FICO® Falcon® Platform customers in the UK and Europe this fall, and then to customers in other markets worldwide.

More information: http://www.fico.com/en/latest-thinking/white-paper/5-keys-applying-machine-learning-ai-in-enterprise-fraud-detection

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SAN JOSE, CA — September 26, 2017

Highlights:

  • The FICO® TONBELLER® Siron® Anti-Financial Crime Solutions have achieved Amazon Web Services (AWS) Financial Services Competency status.
  • FICO has demonstrated relevant technical proficiency and proven customer success delivering secure solutions seamlessly in the AWS Cloud environment globally.
  • FICO offers the TONBELLER SironAML, SironKYC and other modules on AWS, as part of its FICO® Analytic Cloud offerings.

Silicon Valley analytic software firm FICO announced that its TONBELLER® Siron® suite of anti-money laundering (AML) and know your customer (KYC) solutions have achieved Amazon Web Services (AWS) Financial Services Competency status. This designation recognizes FICO for delivering robust solutions on AWS to help organizations manage critical issues pertaining to the industry, such as risk management, data management, navigating compliance requirements and establishing governance models.

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LONDON — September 11, 2017

HIGHLIGHTS:

  • FICO was named a Category Leader in enterprise fraud solutions and anti-money laundering (AML) solutions by research firm Chartis Research.
  • Category Leaders are defined by Chartis as having high market potential and completeness of offering.
  • FICO offers enterprise fraud management solutions, financial crime management solutions and cybersecurity solutions.

Silicon Valley analytic software firm FICO today announced that it has been named a Category Leader in financial crime risk management solutions by research firm Chartis Research. Their report Financial Crime Risk Management Solutions: Market Update 2017 discusses the increased reporting requirements for financial institutions and the need to use analytics to map out increasingly complex relationships.

“For FIs, managing these efficiently and effectively can be costly and complex,” the report states. “Alongside pressure from regulators – and financial crime itself – processing the increasing volume, variety and velocity of the data FIs now need requires customized, cutting-edge technology.”

More information: http://www.fico.com/en/fraud-security/enterprise-fraud-and-security-solutions

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