FICO® Falcon® X and FICO® Financial Crimes Studio enable data scientists to fuse open source machine learning libraries with proven FICO machine learning techniques for the most accurate detection of criminal activity, at any scale
- FICO® Falcon® X, announced at the Finovate conference in New York, delivers a unified environment for the detection and investigation of both fraud and financial crimes.
- FICO estimates an 80% overlap in software functionality between legacy fraud and anti-money laundering systems.
- Architected for the cloud, and available on Amazon Web Services, FICO Falcon X delivers the radical flexibility needed to counter real-time payment fraud schemes.
- New AML machine learning models and robotic process automation eliminate unnecessary alerts and make high priority investigations more efficient.
FICO® Falcon® X, announced at the Finovate conference in New York, delivers groundbreaking AI and machine learning technology aimed at preventing new forms of fraud and financial crime that are enabled by the rapid adoption of real-time payments. Running on Amazon Web Services (AWS), FICO Falcon X streamlines both fraud detection and anti-money laundering processes — something banks and financial institutions worldwide are seeking. This convergence of capabilities represents a significant cost savings opportunity as FICO estimates an 80% overlap in the data processing, systems maintenance, and ongoing administration of legacy systems needed to support these functions independently.
More information: https://www.fico.com/en/products/falcon-x
Source: FICO Press Release (read the full story)