This post was originally published on Finextra (Security)
In the U.S., losses hit $12.5 billion in 2024. Online crime there reached $16.6 billion. In Europe, payment fraud topped €2 billion in just the first six months 2023.
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To fight this wave, GFT Technologies and FICO, a global leader in analytic software, have joined forces in a new global partnership. Their goal: help banks act in real-time, stop fraud early, and simplify risk decisions using AI.
“This partnership reflects what the market needs most: speed, trust, and intelligence at scale,” said Marco Santos, Global CEO of GFT. “Together with FICO, we are helping institutions around the world rethink how they respond to risk and deliver better, safer experiences for their customers.”
Early successes of the alliance are projects delivered in both Asia and Latin America. For a digital bank in Asia, FICO’s real-time analytics powered rapid decision-making and risk controls. Together, GFT and FICO enabled digital onboarding, live identity checks, and continuous updates throughout the customer lifecycle. For one of Latin America’s largest insurance companies, GFT implemented demand management powered by FICO® Platform’s decision engine. This allowed them to classify, prioritize,
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