FICO® Falcon X, announced today at the Finovate conference in New York, delivers groundbreaking AI and machine learning technology aimed at preventing new forms of fraud and financial crime that are enabled by the rapid adoption of real-time payments.
Running on Amazon Web Services (AWS), FICO Falcon X streamlines both fraud detection and anti-money laundering processes — something banks and financial institutions worldwide are seeking. This convergence of capabilities represents a significant cost savings opportunity as FICO estimates an 80% overlap in the data processing, systems maintenance, and ongoing administration of legacy systems needed to support these functions independently.