Fico has been awarded 25 new patents, bringing its patent portfolio to 167 U.S. and foreign patents. These patents were awarded to team members of FICO Labs for inventions underlying the company’s solutions in fraud protection, cybersecurity, predictive analytics and decision management. Ten of the latest patents cover analytic innovations used by FICO’s industry-leading fraud solutions across the financial, healthcare and telecommunications industries. These technologies, many of which are used in the FICO® Falcon® Platform, help improve fraud detection, reduce false positives and improve the customer experience. FICO also received a patent for a consumer-driven secure sockets layer (SSL) modulator. This is a software system and method for executing secure commercial transactions online by enabling unique receipt message encryption to thwart “man-in-the-middle” attacks. FICO was also awarded patents for inventions related to predictive analytics.
Fico announced The Fair Isaac Advisors P&L Insight Service, giving financial services organizations an analysis of their portfolio trends and profit drivers, along with portfolio-level profitability forecasts and what-if scenarios for strategic planning purposes.Unlike traditional P&L assessments, the P&L Insight Service examines potential impacts across the credit lifecycle, including marketing, originations, customer management and collections. FICO’s advisors can rapidly generate actionable insights using a proprietary FICO tool with built-in forecasting models that can be tuned to the particular dynamics of a bank’s portfolio. Advisors convert 12 to 24 months of portfolio-level data into coherent business intelligence, provide automated trend analysis of profit drivers, deliver actionable and quantifiable recommendations, and assist with strategic planning activities for short-, medium-, and long-range objective-setting.
Fair Isaac has released the TRIAD adaptive control system version 8.3 that allows credit grantors the ability to make faster decisions for account and customer management. New features in the TRIAD adaptive control system version 8.3 include more flexible processing to allow key treatment areas to be executed in any order within a particular call to the TRIAD system; enhanced non-authorization processing to provide additional flexibility beyond the traditional “Approve” or “Decline” functionality; an enhanced TRIAD Analytic Datamart (TAD), a data repository which enables credit grantors to store and analyze predictive and performance data locally in a PC-server environment to streamline the analytic process; the ability to support externally calculated scores using Blaze Advisor business rules management system. This enhancement enables the TRIAD system to produce performance reports for externally calculated scores, such as TRIAD Transaction Scores; improved performance in processing speed and migration utilities that significantly decrease the cost and time for clients to migrate from the TRIAD system 7 to the TRIAD system 8.3.
Fair Isaac is planning to release a new forward-looking decision tool kit for lenders by summer. The new “Fair Isaac Risk Management Suite” will provide deeper insight into the future debt sensitivity and default risk of individuals, as well as a more precise understanding of default risk across entire loan portfolios. The suite includes the latest “FICO 08 Score” plus a new “Credit Capacity Index” score, “Portfolio Stress Testing” analytics, and educational modules known as “Fair Isaac Insights.” “FICO 08 Score” enhances the predictive power of the “FICO” score by examining originations and new accounts; borrowers who pose higher risk; and borrowers with thin or young credit bureau files. The “Credit Capacity Index” gives insight on the degree to which consumers are able to handle future, incremental debt. “Portfolio Stress Testing” applies macro-economic forecasts against a credit portfolio.
Moody’s KMV has announced that Kasikornbank will use their
management tools to facilitate regulatory compliance and to calibrate the bank’s credit risk management model. Through use of empirical credit
migration and validated data on correlations over two business cycles,
Moody will allow the bank to examine the drivers of portfolio risk and
economic capital allocation gain. Moody also analyzes the impact of rating, recovery, term, industry, size and other portfolio risks to curb
volatility and improve return on the bank’s portfolio of credit. The
company is a provider of quantitative credit risk solutions to
lenders, investors and corporations and serves over 1,700 clients in 85
countries. In total assets, Kasikornbank is the 4th largest bank in
Thailand and has registered capital Baht 30.5 billion and paid up capital of Baht 23.7 billion, total assets of Baht 845.1 billion, total deposits of Baht 685.8 billion and total loans of Baht 629.1 billion. The bank has 551 branches through out the country in all 76 provinces.