Teradata and FICO Partner to Reduce Fraud, Improve Business Outcomes

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.