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Celebrating fraud innovation

I'm proud to announce that FICO® Falcon® Fraud Manager 6 Analytics was named a finalist in the CONNECT Most Innovative New Product Awards, in the software category.  This accolade was driven by the analytic innovations that I often blog about here, including: Adaptive Analytics, which are reducing account false positive rates by 25% in our US credit model; Global Intelligent Profiles, which are improving fraud detection by 30% in ATM PIN transactions; and Self-Calibrating Analytics, which are enabling our first outlier models in Falcon Retail Banking.

Falcon Fraud Manager is developed in our San Diego, California office, where I work.  San Diego has a long-standing tradition of innovation, with more than 7500 data analytics professionals from more than 100 software analytics companies.  As chairman of the San Diego Software Industry Council Analytics Committee, I have the pleasure of working closely with this pioneering community of professionals.

FICO itself also has a long history of innovation, and in fraud alone, we have 51 patents granted and 41 patents pending.  Of course, our drive for innovation is not purely for innovation's sake. The dynamic nature of fraud demands that antifraud technology continuously advances in order to keep up—something that my team and I keep in mind as we continue to enhance FICO fraud solutions.

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