Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

FICO Awarded Seven New Patents for Analytic Innovations in Fraud Detection and AI

FICO Awarded Seven New Patents for Analytic Innovations in Fraud Detection and AI


  • FICO has been awarded seven new patents for fraud detection, AI and analytics
  • Three of the patents granted are related to the FICO® Falcon® Platform, the world’s leading payment fraud system
  • FICO continues to drive innovation across its solutions; it currently holds 188 US and foreign patents

Silicon Valley analytic software firm FICO has been awarded seven new patents related to fraud, artificial intelligence (AI) and advanced analytics. In total, FICO currently holds 188 US and foreign patents, and has 89 pending patent applications.

“FICO focuses on helping organisations get the most business value from analytics, to optimise their business processes and drive real-time actions,” said Dr. Stuart Wells, FICO’s chief product and technology officer. “These patents are breakthroughs that are driving innovations in areas such as fraud detection, marketing, Big Data and more.”

Three of the patents awarded are innovations in the FICO® Falcon® Platform, which uses machine learning to detect transactional fraud by providing deep behavioural analytic insight into transaction activity. The Falcon Platform is the world’s most intelligent payment fraud detection solution, protecting more than 2.6 billion cards worldwide. These patents are:

  • Card Fraud Detection Utilising Real-Time Identification of Merchant Test Sites – detects the testing of compromised cards using real-time merchant profiles and the implementation of specialised scoring models for enhanced fraud detection.
  • Fraud Detection Based on Efficient Frequent-Behaviour Sorted Lists – Reduces fraud false positives by obtaining recurrence information in an entities transaction data to identify patterns of legitimate usage and detect transaction activity that is likely fraudulent.
  • Multiple Funding Account Payment Instrument Analytics – A Japanese patent that quantifies the risk of abnormal activity across one or more funding accounts associated with a common payment instrument.

Other patents awarded to FICO include:

  • Data-Driven Product Grouping – Used by FICO’s marketing solutions, this technology generates groupings of products associated with purpose-built predictive models. Groupings of multiple products can be used to predict a likelihood of an entity to purchase a particular product in a future time period.
  • Automatic Modelling Farmer – Enables streamlined modelling processes to enable quick development of large-scale models using Big Data.
  • Systems and Methods to Improve Decision Management Project Testing –  Integrated into FICO® Origination Manager, this technology enables visualisation of the status of a software module.

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post