FICO and LigaData join forces

Monday 28 August 2023 15:14 CET | News

Global analytics software provider, FICO, has partnered with LigaData aiming to bring advanced decision management and optimisation tools to telecommunications firms in Africa, the Middle East and Asia.

Through this partnership, LigaData and FICO will offer hybrid-cloud and SaaS Decision as a Service solution that communications service providers can use to increase revenues, decrease costs, and expand their digital and mobile financial services offerings.

Solutions offered by the two companies include mobile lending, price optimisation, collections optimisation, subscriber segmentation, and fraud detection. The aim of this collaboration is to add new revenue streams and expand financial inclusion in emerging markets.

As per the press release, this collaboration will enable the companies to bring new solutions that can help communications service providers serve the large number of unbanked and underbanked communities in the MEA and Asian regions. 

Global analytics software provider, FICO, has partnered with LigaData aiming to bring advanced decision management and optimisation tools to telecommunications firms in Africa, the Middle East and Asia.

About LigaData 

Based in the US, LigaData is a telecom and mobile financial services solutions provider specialising in AI-driven products and services for communications service providers in the MEA region. The company aims to offer actionable insights and data-driven decision-making through a real-time, low-TCO, hybrid-multi-cloud data fabric. LigaData’s software solutions and services are used by over 30 mobile network operators, supporting over 350 million subscribers around the world to gain stronger value from their existing infrastructure by enabling enhanced revenue-generating services.   

About FICO and its recent developments  

Based in the US, FICO aims to power decisions that help people and businesses around the world. The company utilises predictive analytics, AI, and data science to improve operational decisions. FICO holds more than 215 US and foreign patents on technologies that increase profitability, customer satisfaction, and growth for businesses in financial services, manufacturing, telecommunications, healthcare, retail, and more.

Businesses in nearly 120 countries use FICO solutions to do everything from protecting 2.6 billion payment cards from fraud to improving financial inclusion, to increasing supply chain resiliency. The FICO Score, used by 90% of US lenders, is the standard measure of consumer credit risk in the US and other countries, improving risk management, credit access, and transparency.

In June 2023, FICO partnered with Open Finance data and payments platform, Belvo, to expand credit access in the LATAM region. According to the press release, the two companies were developing an interpretable and explainable machine-learning model that would provide a score based on consumer-permission transaction-level data. This was targeted at increasing credit access for consumers, improving banks’ risk management, as well as enabling lenders to create personalised financial experiences for their customers.

In April 2023, FICO received 12 patents related to digital decision-making in blockchain model governance, artificial intelligence, and machine learning technology. Some of the patents were: Efficient Association of Related Entities, Blockchain for Data and Model Governance, Providing Insights About Dynamic Machine Learning Models, Facial Recognition for User Authentication, and more.

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Keywords: partnership, artificial intelligence, financial inclusion, machine learning, data analytics
Categories: Banking & Fintech
Companies: FICO, LigaData
Countries: Africa, Asia, Middle East
This article is part of category

Banking & Fintech




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