With robotics, AI and machine learning, FICO wins financial crime product of the year - The EE

With robotics, AI and machine learning, FICO wins financial crime product of the year

Global analytics and technology provider FICO has won Financial Crime Product of the Year at this year’s Risk Technology Awards, held by Risk.net.

FICO offers advanced financial crime and fraud analytic solutions. As a provider for more than 20 years, FICO has significant experience dealing with regulatory compliance and developed its solutions to cope with the evolving legislation globally. Its solutions aim to help customers ensure full compliance with international regulations, lower operational costs, ensure highest security and availability and realise end-to-end anti-financial crime processes.

“As a one-stop supplier for anti-financial crime, we cover all compliance-related requirements in a truly integrated solution that breaks down financial crime risk management silos and provides the risk-based approach according to Financial Action Task Force out-of-the-box,” says FICO’s chief marketing officer, Nikhil Behl. “Having the most widely used and recognised industry market leading AML, KYC and Sanctions Screening software in the world, we are committed to staying at the forefront of technological advances to create sustainable customer success and bringing to market the next generation of financial crime detection.”

“In the past year, we have enhanced our solutions with AI (artificial intelligence) and Robotic Process Automation capabilities and recently launched a unified environment for the detection and investigation of both fraud and money laundering,” adds Dr. Sebastian Hetzler, vice president of product management for financial crime compliance.

“FICO Falcon X is a next-generation financial crime platform, built for the cloud that provides a single source for centralised fraud and financial crime strategies and a coordinated perspective of risk. I am pleased that these enhancements have been recognised in this award win – congratulations to the entire team.”

The Risk Technology Awards were determined by a panel of 12 industry experts and Risk.net editorial staff. In all, 20 awards were made this year.

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