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DMS on AWS as a FICO Managed Service

Over the last year FICO has been actively engaged with Amazon Web Services to broaden its software portfolio deployment options to include the AWS public cloud.  We have seen significant progress as we have rolled out support for FICO® Customer Communication Service (CCS), and FICO® Tonbeller AML solutions on AWS. Both solutions achieved Amazon Web Services (AWS) Financial Services Competency status.

FICO DMS Is Now Available as a FICO Managed Service on Amazon Web Services

Recently, we achieved a few significant milestones for the FICO Decision Management Suite (DMS or DM Suite). The DM Suite is now available as a FICO managed service on AWS. In addition, it is now compliant with the Well Architected Review (WAR) framework. Lastly, it is now available as a fully Payment Card Industry (PCI) security compliant implementation.  We are very pleased with how smoothly and quickly these milestones were achieved for a solution as wide ranging and diverse as the Decision Management Suite. In addition to these achievements, FICO and AWS continue to add high value features and capabilities to benefit our mutual customers.

FICO Decision Management Suite is an integrated set of authoring environments that provide customers what they need to author, execute, manage, and scale state-of-the-art, analytic-powered decision solutions. FICO DMS is built from the ground-up to leverage the power of predictive analytics, artificial intelligence, machine learning, mathematical optimization, and sophisticated business rules engines to deliver real-time, data driven insights and prescriptive direction to any enterprise application, wherever it is deployed and whenever it is needed.

One of FICO Decision Management Suite’s most compelling benefits is that it allows businesses to start putting the decision before the data. While historical, streaming and other data you collect can drive value, the most transformational organizations are seeing rapid, often game-changing results from flipping the traditional data-feeds-decisions model. In fact, many of FICO’s most successful customers – like African Bank, Southwest Airlines, Canadian Tire, and many others – are using DM Suite to drive performance across multiple products and/or lines of business.

A decision-first strategy means that businesses can define the challenges and objectives they need to solve, and then use DM Suite to define what is needed – data, rules, analytics – to best tackle the problem. One way we are doing this is by offering a platform that does not confine businesses to just FICO analytic tools – almost all our clients have invested heavily in third party and open source tools, and DM Suite can actually help clients monetize these investments. Furthermore, implemented on AWS, customers can scale up and scale down as business needs vary, knowing it runs on a highly secure and compliant AWS infrastructure.

FICO DMS on AWS Is Compliant with Amazon Web Services’ Well Architected Review framework

To meet the requirements of AWS’ Well Architected review framework, FICO and AWS worked together to address all five of AWS’ pillars: Operational Excellence, Security, Reliability, Performance Efficiency, and Cost Optimization. Due to FICO’s broad base of financial services clients, we are required to deliver very high levels of security. To meet this challenge, FICO and AWS collaborated to meet the six design principles of the Security Pillar. Thanks in part to this work, several clients who were once reluctant to move to the cloud are now transitioning their on-premises businesses to a cloud-based infrastructure.

The six design principles for security in the cloud per AWS are:

  • Implement a strong identity foundation
  • Enable traceability
  • Apply security at all layers
  • Automate security best practices
  • Protect data in transit and at rest
  • Prepare for security events
DM Suite accounts for the increased need for transparency in decisions. One must look no farther than the banking industry to digest the ramifications of not having decision transparency whether you are making loans, collecting debt, increasing credit card limits, setting fees, or even maintaining appropriate capital ratios. By empowering business users to self-serve in everything from scenario development to decision analysis and provide a centralized view of all decision assets (including predictive and prescriptive models, ML algorithms, strategy trees, etc.), DM Suite’s inherent transparency provides explainability (regulations) and easy-to-view performance data (e.g., when is a model or decision degrading). This allows businesses to consistently recalibrate at a much faster pace than organizations lacking DM Suite.

Finally, there is the need for consistency and connectivity in customer decisions. Consumers today expect that their banks/retailers/service providers know them, irrespective of what department they are trying to reach. Likewise, businesses need to have a single, unified view of the customer in order to create the most profitable relationships at every touchpoint. This perspective is not aspirational – it is, in fact, what you need to establish to survive in any industry – if not now, well, soon enough. And this is what DM Suite innately provides throughout the entire business lifecycle, from originations and fraud prevention, through marketing and even debt collection.

Another benefit is that DM Suite enables the next-generation of advanced analytics – including artificial intelligence and machine learning algorithms – that helps CxOs convert their “change agent” agendas into competitive advantage. It is the most flexible and business-user friendly decision science platform that integrates with a business’ existing technologies to rapidly turn data and analytics into insights that power better, profitable customer-centric actions. DMS allows businesses to flexibly create and deploy Digital Transformation solutions that are faster, smarter and provide more measurable value than anything else available in the market today.

Ultimately, DM Suite comprises authoring components (including advanced analytics, decision rules, and optimization) with application development and productivity tools to provide a complete solution to help you ingest and explore data, streaming or at rest; discover analytic insights; execute analytics in operational decisions; create and deliver engaging web and mobile applications; and, track and improve models and strategies.

By extending the power of the Decision Management Suite to AWS, customers will get a fully managed FICO service.  The DM Suite is now fully architected, deployed, managed and monitored by FICO. For customers, this means that its entire software lifecycle is seamlessly supported, patched, and upgraded.  Additionally, by moving to the AWS cloud, customers no longer have to be concerned about hardware or architectures in deploying the DM Suite.  Customers will automatically get a solution that’s architected to be secure, scalable, and available.

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