Latest news with #FICOPlatform
Yahoo
27-05-2025
- Business
- Yahoo
FICO Stock Leads S&P 500 Decliners Again
Fair Isaac Corp. (FICO), or FICO, stock sank more than 9% Tuesday afternoon to lead S&P 500 decliners, continuing their recent drop. Shares of the Bozeman, Mont.-based credit score provider have lost about 30% of their value over the past five sessions since Federal Housing Finance Agency Director Bill Pulte raised concerns about FICO's pricing and expressed support for more cost-effective credit evaluation options. FICO shares sank 8% last Tuesday and plummeted 16% the following day to again pace S&P 500 decliners. In other FICO news, it announced Tuesday it had reached a new collaboration agreement with Amazon's (AMZN) Amazon Web Services unit. "Under the new agreement, FICO and AWS will amplify their work to bring more organizations worldwide the power of AI-driven, automated decision workflows with FICO Platform, which runs on AWS," FICO said. At more than $1,500 each, FICO shares are the fourth most expensive in the S&P 500, trailing homebuilder NVR (NVR), online travel company Booking Holdings (BKNG), and auto parts retailer AutoZone (AZO). Still, they closed at more than $2,200 just last Monday. Read the original article on Investopedia Sign in to access your portfolio
Business Wire
27-05-2025
- Business
- Business Wire
FICO Aims to Accelerate Businesses' Digital Transformation Under New Strategic Collaboration Agreement with AWS
BOZEMAN, Mont.--(BUSINESS WIRE)-- FICO (NYSE: FICO) – Global analytics software leader FICO announced today that it has signed a new strategic collaboration agreement with Amazon Web Services (AWS). This agreement builds on the longstanding collaboration between the two firms, under which they advance businesses' digital transformation and power customer connections. FICO and AWS will amplify their work to bring more organizations worldwide the power of AI-driven, automated decision workflows with FICO Platform Under the new agreement, FICO and AWS will amplify their work to bring more organizations worldwide the power of AI-driven, automated decision workflows with FICO Platform, which runs on AWS, and FICO will broaden its participation in AWS partner programs to accelerate client adoption of FICO Platform. FICO solutions will also be available through AWS Marketplace Private Offers. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on AWS. The first of these solutions, FICO® Decision Modeler, is now available in AWS Marketplace. FICO Decision Modeler is the advanced decision management system that powers greater flexibility, ease of use and decision accuracy, and is at the core of FICO Platform. 'Customers and partners worldwide benefit from our solutions powered by AWS,' said Alexandre Graff, vice president of Global Partners & Alliances at FICO. 'We also work collaboratively on solution development, for example through the AWS Generative AI Innovation Center, where we are developing agentic AI capabilities within FICO Platform. And the collaboration is a two-way street; Amazon has an enterprise license for our FICO® Xpress optimization suite, which is used for multiple purposes including within Amazon Connect. This is a multi-faceted collaboration.' Many financial institutions are already using FICO Platform on AWS to drive successful business initiatives, such as Westpac NZ, one of New Zealand's largest retail banks. 'With FICO Platform, which supports transformation at scale on AWS, we've been able to shift from focusing on individual decisions we make on a customer's account, to thinking strategically about how we manage customers across all of their accounts and throughout their lifetime with the bank,' said Regan Goble, Risk Analytics senior manager at Westpac NZ. "FICO's decision management solutions provide customers with powerful tools for making data-driven financial decisions," said Scott Mullins, managing director, Worldwide Financial Services at AWS. "Making these solutions available in AWS Marketplace simplifies procurement for our customers while providing the security, scalability, and performance benefits of AWS. Together with FICO, we're helping financial institutions transform their operations with advanced analytics and AI capabilities that deliver tangible business outcomes." This collaboration underscores the value of FICO and AWS to provide flexibility and unlock greater business value for customers across industries. For more information please visit: About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.
Techday NZ
27-05-2025
- Business
- Techday NZ
FICO & AWS expand AI decision platform via marketplace
FICO has signed a new strategic collaboration agreement with Amazon Web Services to expand the global reach of its decision management solutions. The agreement will see FICO and AWS increase their joint efforts to provide organisations worldwide with access to AI-driven, automated decision workflows on the FICO Platform, which operates on AWS. FICO plans to broaden its involvement in AWS partner programmes in order to help accelerate the adoption of its solutions among clients. Under the terms of the agreement, FICO solutions will be made available through AWS Marketplace Private Offers, allowing customers to find, test, buy, and deploy software that runs on AWS. AWS Marketplace offers a digital catalogue of software listings from independent vendors. The first FICO solution now available in AWS Marketplace is FICO Decision Modeler, a decision management system designed to enhance flexibility, usability, and decision accuracy. Decision Modeler forms a core component of FICO Platform. Alexandre Graff, Vice President of Global Partners & Alliances at FICO, explained the scope of the collaboration: "Customers and partners worldwide benefit from our solutions powered by AWS. We also work collaboratively on solution development, for example through the AWS Generative AI Innovation Center, where we are developing agentic AI capabilities within FICO Platform. And the collaboration is a two-way street; Amazon has an enterprise license for our FICO Xpress optimization suite, which is used for multiple purposes including within Amazon Connect. This is a multi-faceted collaboration." Several financial institutions are already utilising FICO Platform on AWS. Westpac NZ, one of New Zealand's largest retail banks, has reported a shift in approach with the adoption of these systems. Regan Goble, Risk Analytics Senior Manager at Westpac NZ, said: "With FICO Platform, which supports transformation at scale on AWS, we've been able to shift from focusing on individual decisions we make on a customer's account, to thinking strategically about how we manage customers across all of their accounts and throughout their lifetime with the bank." Scott Mullins, Managing Director, Worldwide Financial Services at AWS, commented on the availability of FICO solutions in the marketplace. "FICO's decision management solutions provide customers with powerful tools for making data-driven financial decisions. Making these solutions available in AWS Marketplace simplifies procurement for our customers while providing the security, scalability, and performance benefits of AWS. Together with FICO, we're helping financial institutions transform their operations with advanced analytics and AI capabilities that deliver tangible business outcomes." The collaboration aims to provide increased flexibility and business value to customers in a range of industries through the application of advanced analytics and AI-driven decisioning in the cloud. Follow us on: Share on:
Techday NZ
26-05-2025
- Business
- Techday NZ
Vitality partners with FICO to offer personalised digital care
Vitality has partnered with FICO to provide personalised digital healthcare journeys for its one million members. The collaboration sees the implementation of the Vitality Care Hub, which is built on FICO Platform and aims to streamline and personalise the process of accessing healthcare services for members, from GP referrals to physiotherapy and mental health support. The Care Hub enables digital claims submission and management, resulting in a marked shift from telephone to online claims initiation. Vitality reports that fewer than 28% of member claims are now started over the phone, compared to over 90% in 2019. The shift toward a digital-first process has allowed specialist claims teams to dedicate more time to complex cases requiring personal support. The insurer has integrated a suite of FICO tools to facilitate data-driven decisions using real-time insights. This has reduced the need for manual intervention by agents, improved the efficiency of claims processing, and lowered operational costs. By minimising the risk of human error, Vitality can handle a higher volume of complex claims such as chemotherapy treatments, while also supporting scalability as claim volumes rise. Annabel Simmons, Head of Healthcare Programs at Vitality, explained the rationale behind the move: "At Vitality we understand that no two patients are the same. Some members prefer a no-nonsense, straightforward, and self-managed approach to healthcare, while others require more handholding and empathy. We wanted to offer personalised healthcare journeys that cater to these individual preferences." Simmons added, "Upgrading our system wasn't just about moving to the cloud — it was about unlocking the potential for growth by allowing our teams to focus on what they do best: providing excellent healthcare services and improving patient outcomes. We realised we were limiting our possibilities by staying with our old system. Our upgrade with FICO is already paying for itself and will continue to drive value for years to come." The adoption of a cloud-based microservices architecture, which integrates across services such as life insurance and member reward schemes, allows Vitality to offer tailored journeys for members. The system also provides traceability of decisions and consistency in outcomes. Care Hub is intended to complement the work of Vitality's specialist claims teams by enabling fast digital pathways for customers whose needs are more routine, while reserving human resources for complex cases. The insurer states this approach manages demand efficiently, helping to maintain customer satisfaction and drive operational savings that can be reinvested into key services. Vitality is also using FICO Business Outcome Simulator to test and preview the likely outcomes of rule changes in real time. This enables the business to understand potential impacts before changes are implemented, both at the operational level and for members. Nikhil Behl, President, Software at FICO, commented on the project: "The collaboration between FICO and Vitality has enabled the kind of personalised digital-first approach that is transforming healthcare services. By focusing on personalisation, automation, and operational efficiency, Vitality is building a future-proof system that meets the diverse needs of its members while driving sustainable growth." FICO Platform provides open architecture and integrated capabilities for organising data, generating insights, and executing operational actions. FICO was recently recognised as a Leader in the IDC MarketScape: Worldwide Decision Intelligence Platforms 2024 Vendor Assessment.
Finextra
13-05-2025
- Business
- Finextra
Entercard adopts Fico platform to fight application fraud
As part of its enterprise fraud programme, Entercard will use AI-powered technology from global analytics software leader FICO to better identify fraudulent account openings. 0 FICO® Platform's capabilities for model development, identity resolution, streaming data and service orchestration will help Entercard, one of the leading Nordic finance companies, build and deploy powerful fraud scorecards, confirm applicants' true identities through advanced network link analysis and detect fraudulent applications. Using FICO's powerful tools, Entercard can enhance their ability to target a variety of criminal activity such as: • Synthetic identity fraud - e.g., fake profiles built over time. • First-party fraud - intentional misrepresentation by genuine applicants. • Mule detection - accounts opened to facilitate fraud. • ID theft / impersonation - fraudsters applying using stolen identity information. • Application velocity checks - tracking multiple applications in short timeframes. • Bust-out fraud - identifying intent to default from account opening 'We needed a wide range of cutting-edge analytic services that are interoperable and composable, to align with our strategic technology architecture and our enterprise case management technology,' said Céline Goulfault, chief operations officer at Entercard. 'FICO is a trusted partner with a long history of delivering outstanding results at Entercard.' 'FICO Platform gives us the flexibility and power we need to complement our existing capabilities and improve our customer experience while keeping security as our top priority,' said Yannick Leclerc, head of Fraud Strategy & Analytics at Entercard. FICO® Platform uses data, analytics, AI, and optimization to continuously improve decisions, customer interactions, and risk management at scale across the enterprise. The platform is designed to empower enterprises to break down silos across teams and empower employees to achieve customer-focused digital transformation, while giving enterprises greater agility and collaboration. 'Entercard has long been a leader in the fight against fraud,' said Nikhil Behl, president, Software at FICO. 'Their remarkable results using FICO® Falcon® Fraud Manager have made them a past winner of a FICO® Decision Award for Fraud Control. By adopting the power of FICO Platform, Entercard can give even greater protection to its customers across the region.'
