Fair Isaac Corp - FICO STOCK NEWS

PSCU has partnered with FICO to implement FICO® Customer Communications Services (CCS) to enhance its fraud alert system for over 1,500 credit unions. This upgrade addresses the increased demand for secure and efficient fraud detection due to the rise in card-not-present transactions during the COVID-19 pandemic. FICO CCS will provide improved member communication through various channels, real-time alerts, and customizable security options, helping PSCU's credit unions compete effectively with larger financial institutions.

FICO's Decision Optimizer will assist Home Credit Group in enhancing its lending strategies in saturated and growth markets. Following a successful pilot in Russia that improved profitability and increased loan volumes, the tool will initially optimize loan offers for consumers in Kazakhstan and Vietnam. Home Credit aims to address the needs of underserved customers lacking credit history. The partnership anticipates further expansion into additional markets, with the objective of maximizing competitive advantage through advanced decision-making technology.

FICO released its 2020 Customer Identity Management Survey, revealing banks in the U.S. and Canada face challenges in meeting digital banking expectations. Key findings include that only 49% utilize digital identity verification methods, and 51% still rely on in-person identity checks. Notably, 75% of banks plan to invest in identity management platforms within three years to enhance online customer experiences and address identity fraud efficiently.

FICO (NYSE:FICO) will host a free online financial education event on October 8, 2020, aimed at enhancing the financial literacy of New Orleans residents. The session, part of FICO's Score A Better Future initiative, will feature Marc Morial, CEO of the National Urban League. Participants will learn about the FICO Score, crucial for lending decisions, and access free one-on-one credit coaching provided by Operation HOPE. This initiative emphasizes the company's commitment to community empowerment and financial health.

FICO announces the opening of entries for the 2021 FICO Decisions Awards, due by December 4, 2020. The awards recognize companies excelling in analytics and decision management across eight categories, including AI and Machine Learning and Fraud & Security. Winners will be revealed on January 22, 2021, and will be celebrated at FICO World in November 2021. The judging panel consists of industry experts evaluating nominations for measurable improvements and innovative technology usage, showcasing successful implementations with FICO solutions.

FICO has been recognized as a category leader in the Chartis Research report on Cyber Risk Quantification Solutions for the second consecutive year. The FICO® Cyber Risk Score is distinctive as a predictive assessment tool, utilizing AI and machine learning to evaluate billions of cyber risk indicators. This score aids organizations in managing and mitigating cyber risks from various partners. FICO scored highly on Chartis's RiskTech Quadrant in both 'completeness of offering' and 'market potential', reflecting its strong vendor capabilities in the cybersecurity landscape.

FICO has announced a partnership with Duck Creek Technologies to integrate the FICO® Cyber Risk Score into the Duck Creek platform. This collaboration aims to enhance policy quoting and underwriting workflows for property and casualty insurers. The FICO Cyber Risk Score leverages comprehensive cybersecurity data to provide an empirical risk assessment, benefiting insurers in their risk selection and pricing processes. This integration is anticipated to streamline underwriting efforts and allow for faster, data-driven decisions.