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November 12, 2014

Cybersecurity Expert Theresa Payton and FICO CEO Will Lansing Call for Stronger Cybersecurity at FICO World 2014

November 12, 2014

SAN DIEGO, Calif.—November 12, 2014—In opening keynote presentations for FICO World 2014, Will Lansing, CEO of FICO (NYSE:FICO), and independent cybersecurity expert Theresa Payton called on businesses to do more to protect customers’ data. Noting the high-profile data breaches of the past year, both speakers told the 1,000+ FICO World participants that the effort to keep data secure needs to involve the highest ranks of the organization, the most advanced technologies and the active involvement of a business’s customers in detecting and stopping fraud.

Their remarks came as the US works to adopt chip-based controls for payment cards, a movement President Obama called critical in a speech last month at the Consumer Financial Protection Bureau. The so-called EMV standard is being adopted by October 2015, though a report last month by the Payments Security Task Force projects that less than half of US merchant terminals will be enabled for EMV chip technology by the end of 2015.

Citing the conference's theme of The New Customer Imperative, Lansing said consumers view data protection as fundamental to any business relationship. He urged business leaders to step up their technical defenses and also give customers the ability to join the fight against fraud. He cited recent FICO consumer research which showed that as many as 60 percent of consumers would be interested in exercising specific controls over their payment card's usage.

"Consumers can be the weakest link when it comes to protecting their finances from fraud," Lansing said. "What if we gave consumers more control over their own protection? What if we made it easier for them to set their own limits on their card spending, and basically write their own rules to protect themselves from fraud?"

Payton, who served as the White House Chief Information Officer from 2006 to 2008 and is a security, risk, and fraud consultant as CEO of Fortalice Solutions, said businesses need to take responsibility not only for their own defenses, but for those in their supply chain. She noted research from IBM showing that only 28 % of companies "very strenuously" require their vendors, partners, and supply chain to match levels of risk control.

“We need to change the CEO conversation around cybersecurity,” said Payton, whose latest book is Privacy in the Age of Big Data. “The question isn’t, what are you doing to avoid being hacked, it’s when you do get hacked, what are you going to do about it?”

FICO World 2014 focuses on Big Data analytics and decision management strategies for acquiring, serving and retaining customers profitably. The conference continues through Friday.

Über FICO
FICO (NYSE: FICO) ist ein führender Anbieter von Predictive Analytics und Softwarelösungen für Entscheidungsmanagement, das Unternehmen in über 90 Ländern dabei unterstützt, bessere Entscheidungen zu treffen, um Wachstum, Profitabilität und Kundenzufriedenheit zu steigern. Der zukunftsweisende Einsatz von Big Data und mathematischen Algorithmen zur Erstellung von Prognosen zum Kundenverhalten hat ganze Branchen grundlegend gewandelt. Die Analytics-Softwarelösungen und -Tools von FICO werden in den verschiedensten Branchen verwendet, um Risiken und Betrugsfälle zu verringern, profitablere Kundenbeziehungen aufzubauen, Abläufe zu optimieren und strenge regulatorische Vorgaben zu erfüllen. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO-Lösungen integrieren Open-Source-Standards und Cloud Computing, um so maximale Flexibilität und schnelle Bereitstellung zu ermöglichen und Kosten zu reduzieren. Das Unternehmen hilft Millionen von Menschen dabei, ihren persönlichen Kreditstatus zu verwalten. FICO: Make every decision count. Learn more at www.fico.com.

For FICO news and media resources, visit www.fico.com/news.

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Newsroom-Kontakte

Greg Jawski
Amerika

greg.jawski@porternovelli.com
+1 212-601-8248

Darcy Sullivan
Europa, Naher Osten und Afrika

dsullivan@fico.com
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Saxon Shirley
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Marisa Arribas
Lateinamerika

marisaarribas@fico.com
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Camila Placa
Brasilien

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