News

FICO, Equifax intro Data Decisions Cloud end-to-end data analytics solution

March 29, 2019

FICO and Equifax have rolled out the Data Decisions Cloud, an end-to-end data and analytics suite that addresses the needs of financial institutions related to risk, marketing, and fraud.

The Data Decisions Cloud integrates the Equifax Ignite platform differentiated data and analytic management with FICO Cloud applications and the FICO Decision Management Suite, a digital decisioning platform, according to a press release.

The platform allows FIs to quickly explore, develop, test, and deploy powerful insights into production systems across the organization, the companies said.

"Our common mission is to empower financial institutions to leverage data-driven decisioning in all their customer interactions," FICO CEO William J. Lansing said. "With this strategic partnership, FICO and Equifax will help organizations operationalize the best data with unparalleled predictive analytics and applied AI — and do so in a streamlined and cost-effective way."

FICO and Equifax also plan to release three pre-built solutions later this year:

• A connected system for real-time access to raw and trended data that enables the rapid creation and deployment of new predictive. 
• A compliance-as-a-service solution that enables customers to support their AML/KYC obligations across the customer lifecycle. 
• An integrated prescreen marketing automation solution that develops FCRA-compliant campaigns to acquire and retain customers. 

"Currently, there is a deluge of data, and while we have processes to extract meaningful insights to make it actionable, it is a cumbersome and time-consuming process," Liza A. Yannon, Key Bank director of quantitative analysis said in the release. "I'm excited to see that FICO and Equifax listened to the voice of the customer by coming together, and I look forward to seeing how they help us obtain more ready access to data, enabling better use of it in analytics and business decisions."