MINNEAPOLIS (June 16, 2009) – FICO (NYSE: FIC), the leading provider of analytics and decision management technology, today announced the release of the FICO™ Xpress Optimization Suite 7.0, the most advanced optimization solution available. Powered by parallel computing, the new version of the leading optimization solution enables organizations to solve their most complex operational challenges 60% faster than before. A free trial version is now available for download at the Decision Management Community.
Organizations with large-scale operations, from global banks to professional sports leagues, use the FICO™ Xpress Optimization Suite to ensure that they are making the most efficient and profitable use of resources. Financial institutions in particular benefit from the use of FICO Xpress Optimization for pricing, portfolio management and other critical applications.
Advances in optimization software generally correspond to dramatic improvements in operational efficiency and effectiveness, and FICO™ Xpress Optimization Suite 7.0 is expected to make a significant impact in the organizations where it’s implemented. Foremost among the enhancements is a new optimization engine using parallel computing to deliver faster solution times on major problems with millions of variables, including problems previously deemed “unsolvable” due to their size and scale. Users can quickly obtain multiple alternative “ideal” solutions as the basis for making the best possible decision for their particular business scenario.
In FICO™ Xpress Optimization Suite 7.0, faster, multi-threaded algorithms exploit multiple CPU cores out-of-the-box. In addition, improvements to the modeling platform enable developers to design applications around a business’s specific way of operating, and to build them more quickly than previously possible. Business analysts can use the new drag-and-drop editor to create a graphical interface to their models, delivering rapid prototypes and accelerating deployment.
“With FICO Xpress 7.0, optimization delivers serious value to more application areas than ever before,” said Alkis Vazacopoulos, vice president for product management at FICO. “Clients who upgrade to Xpress 7.0 will truly be able to solve previously ‘unsolvable’ problems that have thwarted other systems.”
FICO™ Xpress Optimization Suite 7.0 is aimed at all companies engaged in production, logistical and financial activities, such as banking, petrochemicals, transport and retail. It is also marketed to resellers who embed it into larger systems for end-user and turnkey applications.
“After an initial test-drive, I like what I see,” said J. D. Kelly, an architect at Honeywell Process Solutions. “For all of the problems solved, Xpress 7.0 found better integer-feasible solutions in a shorter amount of time – an improvement over the already high bar set by the previous version of Xpress … truly impressive.”
“At a time when cost control is the number-one priority, optimization solutions are an obvious investment to consider when seeking to maximize productivity and minimizing inefficiency,” said Richard Edwards, Information Management Practice Director, Butler Group. “It stands to reason that those organizations with greater problem-solving abilities will outperform the market in the longer term, and hence realize the greater return from upgrading optimization solutions.”
FICO (NYSE:FIC) transforms business by making every decision count. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2008, and its quarterly report on Form 10-Q for the period ended March 31, 2009. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
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