Fair Isaac Corporation - FICO STOCK NEWS

FICO (NYSE: FICO) will host a Score A Better Future™ financial literacy event at Clark Atlanta University on November 22, 2024. The event features tennis star Chris Eubanks and Congresswoman Nikema Williams in a fireside chat, targeting students from Atlanta area HBCUs including CAU, Morris Brown College, Morehouse College, and Spelman College.

The initiative addresses concerning statistics: 90% of Gen Z adults believe their finances would improve with better financial education, while fewer than half check their credit scores. Students will receive free access to credit tools and financial education resources. The workshop aims to bridge the knowledge gap in credit, budgeting, and financial planning, offering students essential tools for their financial journey.

FICO and Jersey Telecom's Customer Communications Service Scam Signal solution has won the Best Anti-Fraud Solution award at the Credit & Collections Technology Awards. This innovative solution uses telephony signals to detect potential scams in real-time, particularly targeting authorized push payment (APP) fraud. The technology integrates telephony data with fraud decision-making and prevention systems, enabling immediate customer intervention.

Banks using the solution have reported significant results: 41% reduction in scam victims, 44% decrease in fraud losses, and 55% lower false positives. The system works across 2G, 3G, 4G, 5G Volte and Wi-Fi calling, with plans to extend to UK landlines. With APP fraud causing £460 million in UK losses in 2023, this solution addresses a critical need in fraud prevention.

FICO's new survey reveals German consumers' growing demand for enhanced banking security amid rising real-time payments (RTP) and fraud concerns. While 83% of Germans use RTP, only 17% plan to increase usage in the next year, showing an 8% decrease from previous year. 63% of respondents reported receiving potential scam communications, up 12% from 2023.

Key findings show that 43% of consumers want improved fraud detection systems, and 65% believe banks should compensate fraud victims. Customer satisfaction is crucial, with 75% currently satisfied with their bank's fraud handling. However, 11% would switch banks over inadequate fraud response. For fraud alerts, 37% prefer banking app notifications, followed by phone calls (23%) and text messages (18%).

FICO's latest survey reveals that 80% of Spanish consumers have received potential scam attempts, up 4% from last year. The study shows an increase in real-time payment (RTP) scams, with 7% of victims losing over €5,000 in 2024, compared to 4% in 2023. Despite this, Spanish consumers show better response to bank warnings, with only 7% proceeding with payments after being warned (versus 14% global average).

The survey indicates that 93% of Spanish consumers use RTP, with 40% considering it more secure than credit cards. While 44% of consumers accept responsibility for falling victim to scams, they believe banks share some responsibility. Notably, 73% think banks should refund scam victims always or most of the time. Customer satisfaction with bank scam resolution remains high at 74%, though 16% would switch banks if unhappy with scam incident management.

SWBC has announced an enhanced partnership with FICO to launch Preferred Collect™, a comprehensive managed collections service integrated with FICO's omnichannel communication capabilities. The white-labeled solution enables borrowers to resolve past-due loan payments through multiple digital channels, including text messaging, email, IVR technology, self-service web portal, and live agents. The service offers three distinct options and features advanced data analytics through SWBC's Reporting Portal. This collaboration aims to streamline debt repayment processes, minimize risks, and optimize collection strategies while improving borrower satisfaction.

FICO's new survey of 12,000 consumers across 14 countries reveals concerning trends in UK payment scams. 26% of UK consumers have reported actual or suspected scam losses to their banks, while 41% say their friends or family members have been scammed. The study shows that real-time payments (RTP) are widely used, with 79% of UK consumers sending and 73% receiving them.

Key findings show that 54% of consumers believe they should be responsible for falling for scams, while 73% think banks should refund victims always or most of the time. 58% of consumers prioritize better fraud detection systems as the most impactful action banks can take. The survey highlights the need for banks to balance customer satisfaction with fraud mitigation as RTP usage continues to grow.

FICO has achieved leadership recognition from major industry analysts for its FICO® Platform in decision intelligence, analytics, and AI. The platform has been acknowledged in the 2024 IDC MarketScape, Forrester Wave™, and Chartis Research RiskTech100® 2025 reports for its innovative approach to digital transformation.

The platform enables organizations to break down silos, reuse AI models, and make automated decisions across their businesses. Key strengths highlighted include scalability in fraud and risk management, customer engagement, and supply chain decisioning. Recent enhancements focus on data connection, business composability, enterprise optimization, and digital twin capabilities.

A new FICO global survey reveals increasing concerns about real-time payment (RTP) scams, with 56% of consumers reporting family and friends as victims in 2024, up from 51% in 2023. The study highlights that 50% of consumers want banks to improve their fraud detection systems, while 65% believe banks should reimburse scam victims for losses.

Regional variations show scam impacts differ, with Latin America reporting the highest rate at 69%, followed by Asia-Pacific at 56%, Europe at 48%, and North America at 47%. Customer retention is at stake, with 13% of consumers globally considering switching banks if dissatisfied with scam management. The survey also found that 73% of consumers would view their banks positively if they prevented suspicious RTP transactions.

FICO reported strong Q4 fiscal 2024 results with revenues of $453.8 million, up 16% from the prior year. GAAP earnings reached $5.44 per share, while Non-GAAP EPS was $6.54. Scores revenues grew 27% to $249.2 million, driven by a 38% increase in B2B revenue. Software revenues increased 5% to $204.6 million, with Platform ARR growth of 31%. The company provided FY2025 guidance projecting revenues of $1.98 billion and GAAP EPS of $25.05.