Since the previous quarter, small U.S. firms showed a slight improvement in cybersecurity risk —up to 740 from 737 — while large firms fell from 646 to 643.[Read More]
While issuers have already started the actions prescribed by the FCA's persistent debt regulations, there is still a sizeable amount of work to complete and opportunities to be identified. [Read More]
April is National Financial Literacy Month. Understanding credit is an important part of financial literacy, but how well do consumers understand the credit, credit scoring, and lending practices? myFICO conducted a consumer quiz to find out.[Read More]
TPRM is why T-Mobile, one of the leading US mobile carriers, has signed on to use the FICO® Cyber Risk Score as a key quantitative risk metric in its vendor management program.
There have been numerous articles throughout the year about government organizations and universities lacking the staff and tools to review 100% of their transactions. Most of the issues with procure-to-pay compliance arise because many staff reviewing transactions are more focused on completing their review than on the quality of the review. This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage. It is becoming clear that legacy systems and staffing simply aren’t sufficient. Analytics is critical to help monitor procure-to-pay transactions because it is fast, unbiased and can find hidden issues within the data. This article from the State of West Virginia is a perfect example: “More than 17% of Purchase Card transactions lacked sufficient documentation”. Not all of these transactions were improper, but the lack of documentation when spread across 126,000 annual P-Card transactions in West... [Read More]
FICO will be attending LendIt Fintech USA 2019 April 8-9 to discuss new analytics innovations regarding financial inclusion, consumer permissioned data and UltraFICO Score.
UK Finance noted that authorised push payment fraud was up by 44% in 2018 - but what does this leap actually show?
FICO celebrated International Women's Day on March 8 with an inspirational talk from Sally Relova, senior vice president of Credit Risk at Wells Fargo.
“Our challenge was to adapt available technologies to managing demand planning processes for a diagnostic medicine business,” said Eduardo Bianchetti, Grupo Fleury.
In today’s fast-paced, technology-driven society, market incumbents across a variety of industries have had to reinvent themselves in the face of massive digital disruption. Before the iPod, music industry executives couldn’t fathom the idea that consumers might prefer to buy individual songs rather than a whole album. Before Uber or Lyft, taxi company executives couldn’t imagine consumers would be comfortable summoning unlicensed strangers to pick them up in their cars and drive them around. Not every industry experiences these same tectonic shifts and not every company ends up getting run out of business by an Apple or an Uber. However, avoiding this fate requires market incumbents in every industry to consistently and rigorously evaluate the ways in which they are harnessing emerging technologies to meet their customers’ evolving expectations. So where does this consumer experience driven, digital world leave financial institutions? The answer of course, is “it depends.” For some,... [Read More]
Santander Bank Polska has achieved a 160 percent uplift in automated collections since using FICO® Customer Communication Services to execute multi-channel customer communications.
It can be difficult to determine the impact that application fraud controls have on customers – so we asked 2,000 customers across four European countries.
In a new FICO survey, 21% of UK buyers got online auto financing, vs. 15 percent last year, an increase of almost 33 percent.