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The COVID-19 pandemic is accelerating many changes in consumer behaviors, including the way people buy cars. Customers have long researched new purchases online, but with coronavirus-related lockdowns keeping people at home and out of show...
The UK is home to the most sophisticated authorized push payment (APP) scams in the world, with banks’ 2019 losses of £456 million nearly equaling the £470 million attributed to card-not-present (CNP) fraud in the same year. In 2020, APP s...
Traditional approaches to AML suffer from a basic conflict of goals: Increasing detection rates can only be achieved by accepting higher false-positive rates. This is due to the way data is analyzed—with rules, an approach that has only pr...
We are all working through unprecedented times, during which organizations are doing their best to rethink and reshape their businesses. The future looks to remain uncertain as COVID-19 and its second order effects continue to linger — and...
Financial institutions are working hard to navigate the impacts of the COVID-19 pandemic, keep credit flowing, and prepare for recovery, but they need backup. Hear about current and upcoming FICO initiatives, including the latest FIC...
Face-to-face interactions are currently difficult, making the smooth adoption of digital channels imperative. The need to verify customers' identities remotely is now more important than ever. More and more organizations are now implementi...
The importance of a robust case management system is frequently overlooked. While identifying customers and transactions representing risk to financial institutions is important, it is equally important that these cases are handled effecti...
In an increasingly digital economy, financial services and telecom providers are experiencing more first-party fraud, where thieves acquire services or merchandise with no intent to pay. Crooks have become expert at exploiting lenders, ban...
Know your customer (KYC) and customer due diligence (CDD) requirements are the most expensive elements of an AML compliance program. From customer onboarding to ongoing due diligence reviews and remediation, today’s KYC processes are slow,...
Client: La Polar Challenge: Recover from possible bankruptcy, improve weakened customer relationships, and strengthen the brand. Solution: Custom behavioral model Results: By using a behavioral model to govern account management decisio...
Client: Major wireless telecommunications company Challenge: Work across silos to build a marketing response model to make better predictions and produce faster, leaner marketing campaigns. Solution: A custom machine learning (ML) model ...
In the fast paced digital world we are operating in today, it is more important than ever to leverage technology solutions to gain a competitive advantage. End-to-End Digital Onboarding with multi-layered secure Authentication and Identity Proofing will help you gain this edge and reduce Fraud. It will also help you deliver on your customers expectation of a mobile, instant, frictionless and protected experience.
The current landscape of retails deposits is challenging traditional approaches to building and retaining profitable deposit relationships. The highly uncertain nature of recent deposits inflows and their relationship to economic condition...
Dr. Jens Schulz is technical product manager at FICO. He holds a Ph.D. in mathematics from TU Berlin and is a mathematical optimization expert. He worked as such within chemical manufacturing and the transportation industry of airlines and...
In recent years, digital transformation has grown from an IT good intention into a full-scale Board of Directors–level imperative for businesses in almost every industry across the globe. In some cases, that urgency is driven by the proact...
How Logistics Leaders Can Best Prepare for the Worst Among other things, the COVID pandemic has revealed the fragility of global supply chains, many of which have proven to be highly susceptible to catastrophic events. And it's a given tha...