FICO Secures Patents for Antifraud Platform
June 23, 2014
A patent for fraud scoring online transactions is among 25 recently awarded to data analytics technology provider FICO. The patents, which bring the total number in its portfolio in the U.S. to 167, pertain not only to fraud detection, but to cybersecurity, predictive analytics and decision management. Many of the technologies described in the patent applications are used in the company’s Falcon antifraud platform.
“FICO has been the innovator in payments fraud for more than 20 years,” said T.J. Horan, vice president of FICO’s fraud solutions. “Our team’s inventions are expanding our ability to defeat fraud in multiple industries, and improve cybersecurity for every consumer who transacts online.”
One of the patents is for a real-time score indicating the probability that a computer used in an online commercial transaction is associated with past online transactions for that client, utilizing network behaviors between a webserver and a client computer. Another was for an invention that maintains a pre-defined fixed score distribution enabling improved fraud detection. FICO said its Falcon platform uses this technology “to adjust score distributions impacted by changes in fraud rates/patterns, spending patterns and macro-economic changes in card usage, and holiday pattern score shifts.”