Latest news with #FICO®Platform
Business Wire
21-05-2025
- Business
- Business Wire
FICO Helps British Insurance Provider Vitality Deliver Personalised Healthcare Journeys
LONDON--(BUSINESS WIRE)--Vitality, a leading health and life insurance provider, is working with global analytics software leader FICO to deliver personalised experiences for its 1 million members. The Vitality Care Hub powered by FICO® Platform offers a fully digital journey including instant authorisation, online consultant booking and integration with a GP referral. Unique in the health insurance market, the Vitality Care Hub powered by FICO ® Platform offers a fully digital journey including instant authorisation, online consultant booking and integration with a GP referral. Since its implementation, fewer than 28% of Vitality member claims are now started over the phone, compared to over 90% in 2019. Consequently, Vitality's specialist claims teams have more time to provide personal support for complex claims. More information: Vitality has integrated a range of FICO tools to make data-driven decisions based on real-time insights, reducing the need for manual intervention by agents and improving the efficiency of claims processing. The Care Hub offers a fully digital journey for members to access healthcare, from GP services to physiotherapy, mental health and onward specialist treatment. As a result, Vitality has been able to lower operational costs and minimise the risk of human error during assessment and processing, while increasing its ability to scale and manage increasing volumes of complex claims, such as chemotherapy treatments. Annabel Simmons, head of Healthcare Programs at Vitality, commented: '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. '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." Adopting a cloud-based microservices architecture that integrates seamlessly across its various services, from life insurance to reward schemes, Vitality ensures customers benefit from tailored journeys that match their needs with full traceability of decisions made and consistent decisioning. Care Hub complements the work of Vitality's specialist claims teams, who are on hand to provide personal support for members, particularly when they are going through complex claims. The availability of fast, digital pathways helps manage demand, enabling Vitality to deliver strong customer satisfaction whilst driving significantly reduced operational costs when it comes to managing claims, costs that can be reinvested in other key services. Vitality is also using the FICO ® Business Outcome Simulator to preview the outcomes of rule changes in real-time. This has been particularly crucial in understanding the impact that rule and operational changes will have on all aspects of the business and its members. 'The collaboration between FICO and Vitality has enabled the kind of personalised digital-first approach that is transforming healthcare services,' said Nikhil Behl, president, Software at FICO. '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 an open architecture and an integrated set of composable capabilities that span the applied intelligence value chain — from organizing your data to discovering deep new insights — putting this into motion with actions to achieve the desired outcomes. FICO was recently named as a Leader in the IDC MarketScape: Worldwide Decision Intelligence Platforms 2024 Vendor Assessment (doc #US51047423, August 2024). 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. Learn more at FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.
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.'
Business Wire
13-05-2025
- Business
- Business Wire
Entercard Adopts FICO Platform to Fight Application Fraud
STOCKHOLM--(BUSINESS WIRE)-- FICO (NYSE: FICO): 'FICO Platform gives us the flexibility and power we need to improve our customer experience while keeping security as our top priority.' - Yannick Leclerc, head of Fraud Strategy & Analytics at Entercard. Highlights: Entercard will use AI-powered technology from FICO to better identify fraudulent account openings Entercard will use FICO® Platform's capabilities for model development, identity resolution, streaming data, customer profiling and service orchestration 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. 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. More information: 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.' About Entercard Entercard is one of the Nordics' leading credit market companies, with over 1.5 million customers in four markets. Through our two owners, Barclays Principal Investments Limited and Swedbank, we get access to a global and unique expertise within lending. Our mission is to finance the big and small moments of everyday life. We help our customers live their lives as they see fit, providing the means for change, come rain or shine. We are present in Norway, Sweden, Denmark and Finland and have over 460 dedicated employees. 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 and Falcon are registered trademarks of Fair Isaac Corporation in the U.S. and other countries.
Business Wire
09-05-2025
- Business
- Business Wire
FICO Partner Awards Demonstrate Power of Advanced Analytics Solutions
HOLLYWOOD, Fla.--(BUSINESS WIRE)-- FICO World 25 – At its annual FICO® World conference today, global analytics software leader FICO announced the winners of its second FICO® Partner Awards. These six awards recognize firms that are delivering outstanding value to their business customers using FICO® Platform. These six awards recognize firms that are delivering outstanding value to their business customers using FICO® Platform. Share 'Our partners continue to thrill us with their commitment, their innovation and their vision for the future,' said Alexandre Graff, vice president for global partners and alliances at FICO. 'These awards celebrate impressive achievements, and they are just a glimpse of the creative work we and our partners are doing to drive outstanding business results for our joint customers.' The winners are: New Partner Award: Fujitsu Fujitsu and FICO began working together in September 2024. The partnership will bring to that market FICO® Platform, as well as FICO solutions for optimization, customer communications and fraud management. Fujitsu also plans to integrate FICO Platform components in its solutions, designed to help customers grow their businesses and solve societal issues. A dedicated team from Fujitsu is committed to position FICO Platform as the engine of digital transformation and financial industries' modernization in Japan. Platform Award: TSYS As a long-standing and trusted partner for three decades, TSYS, a global payments company, continues to invest in new FICO technologies, ensuring their clients benefit from cutting-edge solutions, particularly through their adoption of FICO's latest customer management solution. By leveraging FICO® Strategy Director, powered by FICO® Platform, TSYS demonstrated an innovative approach to delivering exceptional solutions and value to their clients. Fraud Fighting Award: Fiserv With more than 30 years of partnership, FICO and Fiserv have delivered innovative solutions throughout the financial industry. This award celebrates Fiserv's exceptional commitment to combating fraud and protecting financial institutions and their customers. Leveraging FICO technologies combined with Fiserv's expertise, Fiserv's dedication to staying ahead of emerging threats has positioned them as a leader in the fraud prevention space. Financial Inclusion Award: Dock Dock, a strategic partner of FICO in Latin America for more than five years, has positioned itself as a key player in promoting financial inclusion. By developing financial solutions integrated with FICO technologies for fraud management, omnichannel communications and authorizations, Dock enables more than 200 clients to increase consumers' confidence in digital banking solutions, part of expanding financial inclusion. Innovation Award: TCS Natural catastrophes have wide ranging impacts across the economy, extending beyond insurance and banking to industries like construction, telecommunications, and manufacturing. Currently, credit ratings used to assess financial risks do not adequately consider climate risks. This miscalculation has led insurers and lenders to avoid certain areas altogether. To address this multibillion-dollar issue, TCS has partnered with FICO and other innovators to provide enhanced climate risk assessment tools for financial decision makers across various sectors. This collaboration will help CFOs, Chief Risk Officers, portfolio managers, underwriters and lenders more accurately assess climate related risks, and simulate the financial impact of the decisions they are making. Early Marketplace Adopter Award: LexisNexis® Risk Solutions Following nearly a decade of working with FICO, LexisNexis® Risk Solutions was a natural choice as an early adopter when FICO set out to launch FICO® Marketplace. Their commitment to innovation and a shared vision for growth have made them a key FICO Marketplace provider, providing data sources through FICO's new B2B exchange for decision assets. LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. 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.
Business Wire
08-05-2025
- Business
- Business Wire
Bradesco Stops Fraud with AI on FICO Platform, 1B Monthly Transactions, Double the Approval Speed
BUSINESS WIRE)-- FICO World 25 – FICO (NYSE: FICO) 'FICO helped us rethink our approach from the ground up, using AI and machine learning to stay ahead of fraudsters while ensuring a seamless experience for our customers,' said Marcos Molina, corporate security manager at Bradesco. Highlights: Bradesco implemented FICO ® Platform to modernize fraud detection and enhance digital account opening The bank processes nearly 1 billion PIX transactions per month, reducing fraud-related customer friction by 89% Transaction rejections have dropped by 25%, while real-time account openings have grown by 11% Bradesco has won a 2025 FICO ® Decision Industry Vanguard Award At its FICO ® World conference today, global analytics software leader FICO announced that Bradesco, one of Latin America's largest banks, has overhauled its fraud prevention and digital banking systems using FICO ® Platform. Serving more than 71 million customers, the bank now analyzes nearly 1 billion instant payments per month, reducing fraud-related disruptions while enabling real-time account openings. FICO Platform has strengthened security and improved the customer experience, making transactions efficient and account approvals seamless. 'Bradesco is more than a bank; we are a technology-driven financial institution that continuously evolves to meet customer needs,' said Marcos Molina, corporate security manager at Bradesco. 'Since 2019, we have been building on FICO Platform, integrating AI-powered decisioning and digital onboarding. Now we have expanded this to fraud protection, boosting agility, security and efficiency with every innovation.' Watch Bradesco tell their story on video: Securing Digital Transactions & Accelerating Account Openings As Bradesco's digital footprint expanded, transaction volumes surged. The bank needed to scale security without compromising the customer experience. Traditional fraud models struggled, frequently flagging legitimate transactions as suspicious. This forced customers to go through additional steps, such as calling the bank, verifying their identity, or confirming transactions manually—causing delays and frustration. Meanwhile, fraudsters adapted quickly, exploiting gaps in real-time monitoring. To combat these challenges, Bradesco and FICO developed SAFER, an AI-powered fraud and compliance platform built on FICO Platform. SAFER processes up to 25 million PIX payments daily (Brazil's instant payment system) enabling real-time transfers, detecting and preventing fraud in real time. By automating decisioning and reducing manual reviews, Bradesco cut the number of transactions held for further review by 89%, boosting both security and efficiency. 'The sheer volume of transactions we process daily meant we needed more than just stronger fraud detection — we needed a smarter, faster, and more scalable solution,' said Molina. 'FICO helped us rethink our approach from the ground up, using AI and machine learning to stay ahead of fraudsters while ensuring a seamless experience for our customers. What we've built isn't just a solution for today, but a foundation for the future of digital banking.' Key achievements of Bradesco's transformation include: Fraud prevention at scale: Processes nearly 1 billion PIX transactions monthly, reducing fraud-related customer friction by 89% through fewer false positives, faster approvals, and less need for manual verification Operational efficiency: Cut the number of transactions held for further review by 50%, enabling faster approvals Real-time decisioning: Processes up to 25 million PIX payments per day, with a response time of just 50 milliseconds Instant account opening: Reduced onboarding time from hours to real-time, increasing new accounts by 11% Enhanced customer convenience: Reduced transaction rejections by 25% while maintaining strong fraud prevention Bradesco is evolving into a fully digital, decision-driven institution. By expanding its use of FICO Platform, the bank is integrating AI-driven credit risk modeling and real-time transaction monitoring to enhance security, efficiency, and customer experience. SAFER remains central to this transformation, initially focusing on fighting fraud, monitoring digital transactions, and enabling real-time account openings through digital channels. Looking ahead, Bradesco envisions SAFER as a foundation for developing a comprehensive, 360° view of its customers, strengthening protection measures, and advancing Know Your Customer (KYC), anti-corruption, and anti-money laundering protocols. 'Processing nearly a billion transactions per month while reducing fraud-related friction is a remarkable feat,' said Nikhil Behl, president of software at FICO. 'Bradesco's transformation showcases how advanced decisioning and analytics on FICO Platform drive agility, efficiency and security at scale.' For its achievements, Bradesco won a 2025 FICO ® Decision Industry Vanguard Award. To see the full list of 2025 FICO Decision Awards winners, check out: About Bradesco Bradesco is one of Brazil's largest and most respected financial institutions, serving over 71 million customers. The bank is at the forefront of digital banking, utilizing cutting-edge technology to enhance customer experience and financial security. Bradesco is committed to financial inclusion, innovation, and sustainable development, ensuring seamless and secure banking for individuals and businesses across Brazil. About the FICO ® Decision Awards The FICO Decisions Awards recognize organisations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2025 judges are: Regan Goble, risk analytics senior manager at Westpac NZ (Previous Winner) Megha Kumar, research vice president at IDC Joe McKendrick, analyst and senior contributor at Forbes Luiz Pacete, technology and marketing industry influencer Ali Paterson, founder and editor-in-chief at Fintech Finance Mike Roberts, head of unsecured retail risk at HSBC UK bank (Previous Winner) Erin Stillwell, EVP, payment partnerships at Blankfactor Allan Tan, group editor-in-chief at Cxociety The winners of the FICO Decisions Awards will be spotlighted at and win tickets to FICO ® World 2025, May 6-9, 2025, at the Diplomat Hotel in Hollywood, Florida. 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.
