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FICO has announced that an Amazon research team received recognition in the 2024 FICO® Xpress Best Paper Award competition for their groundbreaking optimization research. The team's paper, published in the European Journal of Operational Research, demonstrates how to optimize large-scale delivery networks using FICO® Xpress Solver.

The research addresses the challenges of modern online retail delivery networks by developing a sophisticated heuristic approach that can handle thousands of origins and destinations, along with over 100,000 commodities. The solution involves processing approximately half a billion variables and constraints, significantly advancing the field beyond previous research that was to hundreds of origins, destinations, and commodities.

Led by Cristiana L. Lara of Amazon's Modeling and Optimization group, the team utilized FICO® Xpress Solver's powerful optimization engine and API to develop their mixed-integer programming model. This breakthrough has direct applications for businesses operating large distribution networks and builds upon resource-task networks commonly used in chemical engineering process design.

FICO's 2024 Scams Impact Survey reveals significant findings about real-time payments (RTP) and fraud in Canada. The survey shows that 91% of Canadian consumers have used RTP, with 87% planning to maintain or increase usage in the next 12 months.

Key findings indicate that 69% of consumers would view their banks positively if they proactively stopped suspicious RTP transactions identified as scams. The survey highlights increasing fraud concerns, with 83% of Canadians receiving potential scam communications and 44% reporting family or friends as scam victims, a 5% increase from 2023.

Notably, 6% of Canadian scam victims reported losses exceeding C$10,000, six times higher than in 2023. Consumer priorities for bank actions include better fraud detection systems (48%), increased scam alerts (18%), and declining high-risk payments (12%). The study warns that 12% of Canadians would switch banks if dissatisfied with scam management.

Yapı Kredi (YKB), a Turkish bank, has achieved remarkable success in fraud prevention using FICO® Falcon® Fraud Manager, reducing fraud losses by 98.7% over seven years. The bank maintains Turkey's lowest card fraud ratio, 50% lower than its peers, while processing 40 million daily transactions and detecting approximately 500 potential fraud cases.

The bank enhanced its fraud detection capabilities by implementing over 1,000 fraud detection rules and custom machine learning models, achieving a false positive ratio of 10:1, significantly improved from the previous 30:1. The system operates with a 99.98% success rate and processes transactions in just 4 milliseconds.

For these achievements, YKB won a 2025 FICO® Decision Award for Fraud Management. The bank successfully adapted its fraud prevention system to new payment channels, including cryptocurrency transfers and open banking.

FICO (NYSE:FICO) has been awarded the 2025 BIG Innovation Award in the software category for its groundbreaking implementation of blockchain technology in AI governance. The company's innovative approach enables comprehensive tracking of machine learning models throughout their lifecycle, establishing new standards for transparency and accountability in AI systems.

The technology represents the first end-to-end solution for tracking AI model provenance, ensuring compliance with responsible AI standards and regulatory requirements. According to Russ Fordyce, CEO of the Business Intelligence Group, FICO's blockchain-powered AI solution is revolutionizing decision-making and model governance in the industry.

Dr. Scott Zoldi, FICO's chief analytics officer, emphasized that this recognition validates their efforts to integrate blockchain technology into AI model governance, enabling organizations to make more responsible and compliant AI-driven decisions. The 2025 BIG Innovation Awards recognized 40 companies and 77 products in total, with winners selected by a panel of business leaders based on creativity, measurable results, and overall impact.

FICO announced that researchers Bjørnar Luteberget and Giorgio Sartor from SINTEF won the 2024 FICO® Xpress Best Paper Award for developing the 'Feasibility Jump' algorithm. This innovative solution can find answers to complex optimization problems with millions of variables in seconds, significantly faster than traditional methods.

The algorithm has been integrated into FICO® Xpress Solver and can perform up to a million variable assignments per second on a modern laptop. This represents a major improvement, reducing solution times from minutes to seconds. The algorithm bypasses the need for initial Linear Programming solutions in Mixed-Integer Programming (MIP) problems through a Lagrangian relaxation heuristic approach.

The winning paper was published in Mathematical Programming Computation 15.2 (2023). FICO® Xpress Solver is recognized as one of the fastest optimization solvers, serving applications in supply chain optimization, energy, and pricing.

FICO, a global analytics software leader, has scheduled its first quarter fiscal 2025 financial results announcement for February 4, 2025, after market close. The company will host a conference call on the same day at 5:00 p.m. Eastern time (4:00 p.m. Central/2:00 p.m. Pacific).

Investors can access the webcast through FICO's website at www.fico.com/investors. A replay will remain available in the Event Calendar under Past Events until February 4, 2026.

FICO (NYSE: FICO) has expanded its Educational Analytics Challenge program by partnering with three new Historically Black Colleges and Universities (HBCUs) for the Spring '25 semester. The new institutions are J.F. Drake State Community and Technical College, North Carolina Central University, and Fayetteville State University, joining returning partner Alabama A&M University.

The semester-long program, now in its second year, focuses on financial fraud detection, where students will develop transaction analytics AI models. For the first time, the program will include graduate students from North Carolina Central University and Fayetteville State University. FICO's Chief Analytics Officer, Dr. Scott Zoldi, and his team will provide weekly lectures and mentoring.

The program offers financial support to enhance analytics study at participating HBCUs and provides internship opportunities for student participants. Students will work on building real-time fraud detection models based on transactional behavioral analytics to identify and prevent banking fraud.

FICO's UK Credit Card Market Report for October 2024 reveals mixed trends in consumer credit behavior. Average credit card sales dropped 5.5% month-on-month to £790, though remaining 1% higher than October 2023. Average balances decreased 0.9% to £1,815, following typical pre-Christmas patterns. Payment behavior showed an unusual trend, with the percentage of balance paid increasing marginally in September (1.3%) and October (0.3%) to 37.2%, contrary to typical seasonal patterns.

The report highlights that veteran cardholders (5+ years) show the highest delinquent balances for two or three missed payments, despite having higher credit limits. Late payment patterns have generally stabilized year-on-year, with only three-payment delinquencies showing an increase compared to October 2023.

FICO has secured the Tech of the Future – Blockchain and Tokenisation award at the Banking Tech Awards in London for its groundbreaking application of blockchain technology in AI model governance. The company has developed and patented an immutable blockchain ledger that tracks the complete lifecycle of machine learning models, marking the first-ever use of blockchain for this purpose.

The technology ensures compliance with responsible AI standards and regulatory requirements by tracking development, operationalization, and monitoring of AI models. This innovation previously earned FICO a Global Finance Innovators award. The company's commitment to ethical AI is demonstrated through its FICO® Falcon® Fraud Manager solution, which pioneered the use of neural networks in 1992 and currently oversees approximately 4 billion payment cards worldwide.