TD Wins 2024 FICO Decisions Award for its Achievements in Fraud Management

FICO World – FICO (NYSE: FICO)

Highlights:

• TD and FICO are working together to enhance the Bank's data-driven fraud detection and prevention capabilities.
• FICO Platform and the TD North American Fraud Detection Platform also support real-time fraud health monitoring that is helping the Bank keep a constant pulse on fraud trends and new threats.

At its annual FICO World conference today, global analytics software leader FICO announced TD, a leading North American bank with over 27.5 million customers has won a 2024 FICO Decisions Award for Fraud Management. TD collaborated with FICO to support the development of the TD North American Fraud Detection Platform that integrates real-time customer and financial payments data to power advanced fraud-detection capabilities.

TD worked closely with FICO to help enhance the Bank’s data-driven fraud detection and prevention measures. Within 12 months, TD successfully established a new enterprise capability by leveraging the real-time, data-driven analysis, modeling and advanced analytics, and AI-powered capabilities of FICO Platform.

Anchored within the Bank's Fraud Performance and Operations teams, the implementation of FICO Platform and the TD North American Fraud Detection Platform involved more than a dozen business units across the Bank, working together – all of which are focused on supporting TD customers at a time when the pace of change is moving faster than ever, and the tactics used by fraudsters continue to evolve.

“I am thrilled by the work that our dedicated teams have done together to advance our data-driven fraud detection capabilities. Utilizing our combined technical skills and platform insights, our teams are focused on helping to protect and empower our customers,” said Sophia Leung, senior vice president, Protect Platform, TD.

FICO Platform and the TD North American Fraud Detection Platform will also support real-time fraud health monitoring that is helping the Bank keep a constant pulse on fraud trends and new threats that impact the Bank now or in the future.

A recent study from FICO highlighted that 69% of North American consumers rank good fraud protection as one of their top three considerations when choosing a financial services provider. By leveraging FICO Platform, TD Fraud Performance teams can make rule adjustments and contextualized assessments in real-time to combat fraud threats, and the TD Fraud Operations teams can respond and action alerts efficiently with relevant data at their fingertips.