Teradata and FICO Partner to Reduce Fraud, Improve Business Outcomes
18 Maio 2023 - 10:00AM
Business Wire
New agreement to bring AI-powered decision
automation and optimization to financial services, healthcare,
retail, manufacturing and travel/transportation
Teradata (NYSE: TDC) and FICO, the analytics software provider
(NYSE: FICO), today announced they plan to bring to market
integrated advanced analytic solutions for real-time payments
fraud, insurance claims, and supply chain optimization. Bringing
data, analytics and insights together in one environment
streamlines the development of solutions for use cases across
industries, speeding time-to-delivery and making them available for
joint customers sooner. The resulting solutions are part of a new
global relationship between the two companies, and are expected to
deliver reduced costs, improved profits, increased risk mitigation
and greater customer satisfaction for Teradata/FICO customers.
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“AI is changing everything, and business will need to adjust to
both the threats and the opportunities,” said Lisa Stewart, SVP WW
Partners and Alliances at Teradata. “From fighting fraud to
managing global supply chains, AI-powered analytics and advanced
decision management are the new requirements for keeping up as well
as creating advantage. These are the core competencies of Teradata
and FICO, and our partnership will make it easier for our joint
customers to innovate in this new AI-driven reality.”
The two companies have identified three initial offerings:
- Fraud detection for real-time payments. While FICO fraud
solutions are the global leader in card payments fraud, protecting
more than 2.6 billion payment cards worldwide, this kind of
sophisticated protection isn’t available for other kinds of payment
products. To address this gap, FICO and Teradata have designed a
fraud solution for real-time payments that will help mitigate the
increasing scams and payments fraud in retail banking accounts. The
solution will bring together FICO’s market leading FICO® Falcon®
Fraud Manager, with its powerful consortium data and neural network
models, and Teradata’s capabilities in enterprise-scale
AI/predictive and prescriptive analytics. This is expected to
provide a holistic view of a banking customer’s transactional and
payments activity, and when combined with FICO decision management,
provide best-in-class fraud prevention for P2P, B2C, ACH and other
payment transactions.
- Improving outcomes for complex medical claims.
Predicting and managing healthcare expenditures is a top strategic
priority for property & casualty, major medical, and public
(government) insurance programs. Despite industry progress in
specific, targeted areas – such as opioid addiction or kidney
failure – an approach for containing total cost across any
condition still eludes industry leaders. FICO and Teradata have
designed a decision automation solution to accelerate the inclusion
of patient insights into the operations of claims adjusters, case
managers, and special investigations units. The result of using AI
in this solution to quickly segment and then identify pathways to
care (based on procedures and diagnoses) can lower the financial
burden while producing superior medical outcomes for the
patient.
- Enhancing supply chain efficiency and increasing
resilience. Once an almost invisible societal benefit, global
supply chains are now increasingly under scrutiny as they continue
to experience strain under the unrelenting pressure to deliver.
From food to medicine to transportation and technology, fragile
supply chains must navigate this volatile environment. FICO’s
advanced mathematical optimization coupled with Teradata’s
multidimensional scaling has the potential to enable organizations
to build robust capabilities to model, optimize and simulate
different scenarios that affect their supply chains, and then
deploy the most efficient options. At the heart of this capability
is a leading optimization modeling and solver platform based on
FICO® Xpress Insight, which allows operation researchers, data
scientists, analysts, and business managers to easily collaborate
on supply chain solutions that facilitate efficient, effective and
time-sensitive decision making. This can lead to improved
efficiency across plan, source, make, deliver, and return,
increasing an organization’s resilience with rapid identification
and mitigation of risks, and improved long-term customer
satisfaction.
“Behind these solutions and others we are developing is
incredible IP in decision management technology, predictive
analytics, mathematical optimization and other areas,” said
Alexandre Graff, senior vice president of partnerships for FICO.
“Teradata and FICO both have outstanding teams and technologies for
operational analytics. Together we can make breakthroughs that help
businesses worldwide prosper.”
FICO was named Best Technology Provider for Data Analytics at
the 2022 Credit Awards, and a Leader in The Forrester Wave™:
Digital Decisioning Platforms, Q4 2020. Gartner has named Teradata
a Leader in the Magic Quadrant for Cloud Database Management
Systems and ranked Teradata #1 in all four use cases in the
Critical Capabilities for Cloud Database Management Systems for
Analytical Use Cases. The four use cases are: Data Warehouse,
Logical Data Warehouse, Data Lake, and Streaming Analytics.*
FICO and Teradata will discuss their partnership at FICO® World
2023, May 16-19 in Hollywood, FL. Please attend Teradata’s session
on “The Future of Banking Is Open” featuring Lawrence Latvala and
Frank Saavedra-Lim on Thursday, May 18 at 4 pm in Great Hall 1.
Availability
The joint solutions from Teradata and FICO are targeted for
availability in Q3 2023, across multi-cloud and hybrid environments
globally.
About Teradata
Teradata is the connected multi-cloud data platform for
enterprise analytics company. Our enterprise analytics solve
business challenges from start to scale. Only Teradata gives you
the flexibility to handle the massive and mixed data workloads of
the future, today. Learn more at Teradata.com.
About FICO
FICO (NYSE: FICO) powers decisions that help people and
businesses around the world prosper. Founded in 1956, the company
is a pioneer in the use of predictive analytics and data science to
improve operational decisions. FICO holds more than 200 US and
foreign patents on technologies that increase profitability,
customer satisfaction and growth for businesses in financial
services, telecommunications, health care, retail and many other
industries. Using FICO solutions, businesses in nearly 120
countries do everything from protecting 2.6 billion payment cards
from fraud, to improving financial inclusion, to increasing supply
chain resiliency. The FICO® Score, used by 90% of top US lenders,
is the standard measure of consumer credit risk in the US and other
countries, improving risk management, credit access and
transparency. Learn more at www.fico.com.
FICO and Falcon are registered trademarks of Fair Isaac
Corporation in the US and other countries.
*Gartner Magic Quadrant for Cloud Database Management Systems;
Henry Cook, Merv Adrian, Rick Greenwald, Xingyu Gu, 13 Dec 2022 and
Gartner, Critical Capabilities for Cloud Database Management
Systems, Rick Greenwald, Merv Adrian, Adam Ronthal, Philip Russom,
Henry Cook, Xingyu Gu 15 December. 2022
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version on businesswire.com: https://www.businesswire.com/news/home/20230518005112/en/
FICO Media Contact Julie Huang press@fico.com
Teradata Media Contact Jennifer Donahue 858-485-3029
office jennifer.donahue@teradata.com
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