ANALYTICS LEADER FICO AWARDED EIGHT NEW PATENTS FOR DECISION MANAGEMENT INNOVATIONS

Highlights:

  • Silicon Valley analytic software firm FICO has been awarded eight new patents related to its decision management platform, fraud detection and other areas.
  • FICO now holds 183 US and foreign patents, and has 83 pending patent applications.

Silicon Valley analytic software firm FICO has been awarded eight new patents related to cybersecurity and advanced analytics. FICO now holds 183 US and foreign patents, and has 83 pending patent applications, including 16 that were filed in 2017.

Three of the new patents relate to technologies developed for the FICO® Decision Management Suite, FICO’s integrated platform for developing and managing decision-making applications. These include:

  • Its approach to building a cloud-based platform for providing analytic decision services.
  • A system for the linearised processing of data objects by a distributed stream computing system.
  • A system for a cloud-based process that enables multiple simultaneous users to collaborate on rapid data investigation, detailed data insight, and predictive model development.

“We are aggressively innovating to create the world’s first true end-to-end analytically powered decisioning platform,” said Dr. Stuart Wells, FICO’s chief product and technology officer. “The breakthroughs we make here will not only help our customers build smart applications faster, they will help us develop the next generations of solutions for fraud detection, risk management, supply chain optimisation and more.”

Additional patents covered:

  • A system that generates a profile and fraud score that quantify the extent of abnormality for past activity across one or more funding accounts associated with a payment instrument. This innovation is used in the FICO® Falcon® Fraud Manager models.
  • Systems that allow managers to identify anomalies in large projects at an early stage, by sifting through vast amounts of data.
  • A scalable, automated, causal modelling-based technique to characterise customers by their probable responses to personalised coupon offerings.  The techniques can be used to target discount coupons and canbe integrated into FICO® Analytic Offer Manager.
  • A consumer-driven software system and method for executing secure commercial transactions online.
  • A system that applies predictive analysis to graph networks in order to gain insight into identities and entities. This technology is part of FICO® Identity Resolution Manager.