– Colombo Seminar covers use of predictive analytics to fight fraud, predict risk and grow profits

SINGAPORE, Feb. 12, 2015 /PRNewswire/ — FICO (NYSE: FICO), the predictive analytics and decision management software company, today announced it will hold its first industry event in Sri Lanka,  a one-day seminar designed to showcase how analytic technology can help Sri Lankan businesses operate more profitably while offering better customer protection.

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"Economic uncertainty and changing customer expectations are making it harder than ever to build and maintain profitable customer relationships," said Vishal Goyal, who manages FICO’s operations in South Asia. "For Sri Lankan lenders, automating decisions when issuing loans, assessing risk or defending against fraud is a pathway to improved performance and competitive advantage, but it must be done carefully. The way to reach this goal is through the sophisticated use predictive analytics."

The one-day program will provide a comprehensive overview of the FICO® Decision Management Platform, a comprehensive development environment that makes it quick and seamless to glean insight from data, and develop analytic models and decision services that operationalize that insight. The seminar also covers key aspects of enterprise fraud management, including credit and debit card, online and application fraud.  FICO is a leader in this field, and its FICO® Falcon® Fraud Manager protects more than 2.5 billion payment cards worldwide.

"Just last year, a Sri Lankan criminal syndicate was caught with 260 fraudulent ATM cards, and international mafia used counterfeit cards at the country’s banks to withdraw funds from overseas victims," Goyal said. "Fraud has become an international phenomenon, and at the seminar we will discuss some innovative, analytics-based approaches that our clients are taking to increase their protection."

FICO is presenting this seminar in Colombo in partnership with Epic, a leading Sri Lankan technology solutions provider with more than 16 years of experience serving the banking and finance industry.

The seminar will take place on Thursday 19 February 2015 between 9am-4pm at The Kingsbury Hotel. 

To register, please contact Rachel Kooi: RachelKooi@fico.com

About FICO
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count. Learn more at www.fico.com.

For FICO news and media resources, visit www.fico.com/news.

FICO, Falcon and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.