FICO Obtains Eleven New Patents in Fraud, AI/ML and Digital Choice-Making

FICO at the moment holds 208 energetic U.S. and overseas patents so far, with 83 extra pending

BOZEMAN, Montana, September 13, 2022–(BUSINESS WIRE)–Robust factors:

  • FICO has been granted eleven new patents within the fields of fraud, AI/ML and digital decision-making

  • FICO holds 208 energetic U.S. and overseas patents so far

  • FICO at the moment has 83 pending patent functions

Main FICO analytics software program firm has been awarded eleven new patents previously eight months associated to fraud, synthetic intelligence (AI)/machine studying (ML) and digital decision-making. With these grants, FICO’s patent portfolio now totals 208 energetic patents, with 83 further functions filed and pending. The newest eleven granted patents give attention to moral synthetic intelligence, machine studying and different analytics applied sciences utilized by FICO to assist its purchasers construct accountable and efficient AI decision-making programs by leveraging algorithms purpose-built AI and ML.

“FICO is a number one innovator in AI, and that is mirrored in the truth that we frequently file new patents on this space,” stated Scott Zoldi, Director of Analytics at FICO. “Our aim is to pioneer the usage of accountable synthetic intelligence and proper operationalization in decision-making programs. Our lately granted patents embody a wide range of software program options, fraud analytics, algorithms for enhanced machine studying and our continued give attention to behavioral and transactional analytics.”

Patents lately granted by FICO embody:

  • “Entity Decision Based mostly On Character String Frequency Evaluation”, which covers strategies for producing similarity scores between a number of pairs of character strings based mostly on levels of similarity or rarity. It’s a function of FICO® Identity Resolution Engine.

  • “Superior studying system for the detection and prevention of cash laundering”, which considerations the detection of behaviors of dangerous entities utilizing an environment friendly checklist of sorted frequent behaviors and the era of risk scores that may be utilized within the context of anti-money laundering (AML) and retail banking fraud detection programs. This know-how is built-in into FICO® Siron® Anti-Financial Crime Solutions.

  • “Configuration Packages for Software program Merchandise”, which covers configuration software program improvements, together with the configuration of precompiled code frameworks. This know-how is in FICO® Strategy Director and FICO® Studioeach a part of FICO® Platform.

  • “Visualization for Fee Card Transaction Fraud Evaluation”, which pertains to a computer-implemented methodology and system for visualizing card transaction fraud evaluation. The visualization strategies on this patent allow domain-specific interfaces that may assist fraud analysts make higher selections rapidly and simply. This know-how is built-in into FICO® Falcon® Fraud Manager.

  • “False Constructive Discount in Anomaly Detection System Fashions”, which covers know-how to cut back the speed of false positives for anomalies for transactions occurring on the similar service provider and/or on the similar location the place a shopper has already made a transaction. Conversely, the detection price of precise fraudulent transactions that happen whereas a transaction entity is being defrauded is improved. This is a vital a part of enhanced cloud analytics based mostly on the FICO® Falcon® platform and enhancements to streaming analytics.

  • “Temporal Explanations of Machine Studying Mannequin Outcomes”, which describes a system and methodology for figuring out and isolating related previous transactions that led to a ultimate choice in an AI transactional evaluation system, to supply explanations vital in transaction programs equivalent to stopping cost card fraud, detecting cyber threats, credit score danger and figuring out cash laundering actions.

  • “Excessive Decision Transaction-level Fraud Detection for Fee Playing cards in a Potential State of Fraud”, which covers a system and a way for distinguishing fraudulent transactions from reliable transactions, when the cost card used is in a state of fraud, on the utilizing a specialised algorithm referred to as as a degree mannequin. This innovation is vital to FICO customer communication offers and adaptive analytics initiatives in FICO® Falcon® Fraud Supervisor.

  • “Technique and Equipment for Analyzing Mannequin Protection, Bias, and Explanations in Excessive-Dimensional Modeling Knowledge”, which is anxious with exposing low information protection and potential biases in a dataset, significantly massive multidimensional datasets. That is related to enabling humble AI methods and has been utilized in FICO® Falcon® Fraud Supervisor and FICO® Member Score fashions.

  • “Knowledge Distillery for Sign Detection”, which claims programs and strategies for analyzing information and discovering patterns or alerts in massive volumes of knowledge for potential use in choice making.

  • “Generate an optimum technique to ship provides”, which pertains to the era of methods to ship high-quality provides to prospects that require minimal, negligible or no guide experience from analysts and area consultants, thereby lowering the time, effort and value.

  • “Distributed Knowledge Processing Framework”, which covers a system and methodology for multi-level information aggregation, information filtering, and producing information inputs from uncooked information on the transaction stage. These improvements deal with the inadequacy of conventional information processing functions to course of exceptionally massive and/or advanced information units.

About FICO

FICO (NYSE: FICO) powers the choices that assist folks and companies around the globe thrive. Based in 1956, the corporate pioneers the usage of predictive analytics and information science to enhance operational selections. FICO holds 208 energetic U.S. and overseas patents on applied sciences that enhance profitability, buyer satisfaction, and development for corporations in monetary providers, telecommunications, healthcare, retail, transportation, and provide chain. procurement, and plenty of different sectors. With FICO options, companies in additional than 120 international locations are doing every little thing from defending 2.6 billion cost playing cards from fraud, to serving to folks get credit score, to making sure that thousands and thousands of planes and rental vehicles are in the correct place on the proper time.

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Katie O’Connell
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