IBM and Fair Isaac Partner to Deliver Analytic Advantage to Financial Institutions Worldwide

Tuesday 13 January 2004 16:18 CET | News

IBM and Fair Isaac have formed a global strategic alliance to help financial services providers worldwide manage risk, prevent fraud and forge customer relationships more profitably.

The relationship will focus on delivering the full range of Fair Isaacs advanced analytic software and tools through IBMs established technology infrastructure at the worlds top financial institutions. Through this alliance, IBM is now a global reseller of Fair Isaacs core analytic capabilities for financial services providers. Banks and lenders worldwide can now easily and effectively tap into Fair Isaacs proven, standard-setting predictive analytics and decision technologies, which have been optimized for IBMs On Demand operating environment. The joint initiative is a direct outgrowth of IBMs increased focus on delivering best-in-class software and tools to meet the needs and requirements of specific industries. A major Japanese financial institution with a business reach across the Asia-Pacific region recently became the first institution to sign on for the combined offering. The IBM-Fair Isaac alliance provides financial institutions with software and tools that help them solve the most pressing challenges they face today, including increasingly fierce competition, rising fraud losses, new regulatory mandates and barriers to attracting, cross-selling and retaining profitable customers. Fair Isaac analytics deliver precise, actionable insights into customer behavior and enable automated decision strategies that effectively address each of these challenges. In addition, Fair Isaac and IBM plan to bring new solutions to market in the future that deliver breakthrough value to financial institutions through joint product development and integration efforts. Analytic Power On Demand A full range of Fair Isaacs analytic solutions will be available worldwide to financial services institutions on IBMs scalable infrastructure. These include powerful software solutions that support analytics-driven decision strategies for specific functions, as well as a suite of software and tools that enable and support Enterprise Decision Management (EDM). Financial services providers using the IBM platform can now implement Fair Isaacs TRIAD adaptive control system, the worlds leading account management system that is used to manage and optimize customer decisions for more than 65 percent of the worlds credit cards. This includes TRIAD for Customer Management, which provides a coordinated picture of risk and rewards across accounts while helping institutions manage portfolio profitability goals. IBM users also can tap into Fair Isaacs Falcon Fraud Manager, the industry-standard fraud detection system currently used to protect 65 percent of all credit card transactions worldwide. Also available is Capstone(R) Decision Manager, which enables a fast, efficient, automated account origination process that can be used across the enterprise. Through the alliance, financial institutions will be able to implement true EDM with tools that help them design, deploy, automate and manage optimal decisions across the entire organization. Key components of the EDM product suite include Fair Isaac Blaze Advisor, the leading software for creating and deploying business rules as part of an automated business system, and Fair Isaac Blaze Decision System, which applies rules and various decision-making criteria to help businesses make real-time decisions that reflect their business priorities. IBM has been offering and delivering Blaze Advisor to customers via its Websphere platform since 2001. Another key component of Fair Isaacs EDM offering, Model Builder software, will be available to IBM customers. Model Builder gives businesses the power to quickly design and deploy their own sophisticated analytic models based on their unique historical data. The two companies will also provide joint implementation and integration services. Consultants from IBM Business Consulting Services and Fair Isaac Professional Services

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Categories: Payments & Commerce | Payments General
Countries: World
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