Illegal Wildlife Trade: What Banks Must Do

Author: Erik Stretz, Fico Principal Consultant   The FATF released their report on ‘Money Laundering and the Illegal Wildlife Trade’ a topic that has been sitting on the side-lines for a long time, overshadowed by more prominent criminal ventures, such as drug trafficking. Although the market pales compared to the vast sums moved in the drug space, it’s still the 4th most lucrative trade. Billions of dollars are made at the cost of our natural environment and the economical longevity of the affected countries and regions. If we look at…

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More International Banks Use FICO Platform for Asset Governance and Regulatory Compliance

South Africa, January 14, 2021 — Analytics software firm FICO today announced that Yapi Kredi, one of the largest private banks in Turkey, will use FICO® Decision Central™ to manage analytics models and decision logic across the enterprise. Yapi Kredi joins many international banks who aim to seamlessly conduct and orchestrate smarter analytics and data pipelines and enhance AI / machine learning lifecycle management. FICO Decision Central enables businesses to capture models and other decision assets so that they can be reused, modified and improved over time.   More information: http://www.fico.com/en/products/fico-decision-central  …

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Fico survey reveals that financial services firms are severely lagging in online consumer services

VVast majority of traditional banks and fintechs are either far behind their transformation goals, or missing them outright   HIGHLIGHTS:  FICO and Arizent release new report entitled Clear and Present Danger: The Threat of Digital Disruption in Financial Services and What Banks Can Do to Vanquish It.   Only three percent of bank executives are extremely confident their insitution has taken all the necessary measures to protect their businesses against digital disruption, while a majority (71 percent) voiced doubts around their company’s ability to respond to digital disruption.   Just…

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How can automation and AI bolster the fight against money laundering?

How can automation and AI bolster the fight against money laundering?

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Debt Collection Faces a Corona Tsunami

Many banks in both developing and mature credit markets are insufficiently prepared. The economies in many countries have not seen a recession for more than a decade. Low levels of unemployment and low loss rates in retail credit have allowed banks to lose focus on their collection and recovery departments. Where investments have been limited to regulatory requirements, organisations are falling behind international good practice. The lack of prior investment shows across methodology, technology and organisational aspects. Even large organisations can be 10-15 years behind standards in markets such as…

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New Report from Corinium and FICO Signals Increased Demand for Artificial Intelligence in the Age of COVID-19

New Report from Corinium and FICO Signals Increased Demand for Artificial Intelligence in the Age of COVID-19

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Can AI discriminate against you?

One of the most common misperceptions in the world of Machine Learning about bias is “If I don’t use age, gender or race, or similar factors in my model, it’s not biased.” Well, that’s not true. Even though the same people holding this opinion know that Artificial Intelligence can ‘learn’ and compute relationships between data, they don’t understand that there are proxies to biased data types in other features that are captured. These proxies are called confounding variables and, as the term indicates, unintended variables can confuse the model into…

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Five Things We Value More Because of COVID-19

Five Things We Value More Because of COVID-19

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How AI can mitigate RSA’s energy crisis

“The energy industry is rapidly expanding its use of mathematical optimization across a wide array of business areas, from supply chain management to clean energy production,” said Mark Collingwood, FICO vice president for decision management solutions in Europe, the Middle East and Africa. “The adoption of FICO Xpress Optimization at enterprise level will streamline and improve energy providers existing decision processes, while building on the success of previous projects.” South Africa presents itself as the perfect candidate for the Xpress Optimization as it has had an ongoing energy crisis leading…

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