Fair Isaac Corporation - FICO STOCK NEWS

FICO and Jersey Telecom (JT) have won the Silver Medal in the Fraud Impact Award for Best Scam and APP Fraud Prevention solution from Datos Insights. Their product, FICO® Customer Communications Service Scam Signal, uses telephony signals to detect scams in real-time.

The solution combines telephony data with customer and payment data to tackle Authorized Push Payment (APP) fraud. It's now available in the UK and Spain, with plans for expansion. Major UK banks are implementing it, with one pilot reporting a 41% reduction in scams, 44% decrease in fraud losses, and 55% lower false positives.

The Scam Signal analyzes real-time network data across multiple mobile networks and is being extended to support UK landlines. It allows banks to send personalized, contextual messages to customers during high-risk activities, potentially stopping scams in progress.

FICO, a global analytics software leader, is hosting two free financial literacy events in Washington, D.C. on August 24, 2024. These events include a Score A Better Future (SABF) event for adults and a Score A Better Future Fundamentals credit education event for teens. The initiatives aim to enhance participants' understanding of financial health and the FICO® Score, used by 90% of top US lenders.

In collaboration with the U.S. Soccer Foundation and Chelsea Football Club, FICO is combining financial education with soccer excitement. Participants will have the opportunity to attend the Chelsea FC Women x Arsenal Women FC match at Audi Field. The events are part of FICO's commitment to expanding access to financial literacy education and empowering individuals to achieve their financial goals.

PSR, a global provider of analytical solutions for the energy sector, has leveraged FICO® Platform Enterprise Optimization capabilities to enhance Mexico's power and water systems. Mexico's CENACE (National Center for Energy Control) has been using these advanced tools since 2021 to optimize energy production and improve water resource management. The implementation has resulted in:

• Mitigation of floods in Tabasco, benefiting 1 million residents
• US$300 million in savings for the Mexican government in 2022
• 4% decrease in natural gas imports for electricity generation in 2022

PSR's approach, powered by FICO Platform, uses probabilistic and statistical methodologies to handle uncertainties in inflows, renewable energy production, energy demand, and fuel prices. This has led to more accurate operational and risk assessment analyses, improving energy and water security.

FICO is hosting a free Score A Better Future™ Fundamentals credit education event for teens in Harrison, NJ on August 19, 2024. This event is part of FICO's 'Fields of Financial Empowerment' tour, in partnership with the U.S. Soccer Foundation and Chelsea FC Women. The workshop aims to provide students with knowledge about financial health, credit, and the FICO® Score, used by 90% of top US lenders.

Following the workshop, attendees can watch the Chelsea FC Women x Gotham FC Women's match for free. The event combines financial literacy education with the excitement of women's soccer, celebrating the rising prominence of women's sports globally. FICO's program is designed to help teens understand how FICO® Scores impact their financial health and develop good financial habits.

FICO's latest global consumer fraud research reveals that Thai consumers have low tolerance for inefficient digital experiences when opening financial accounts. Key findings include:

• 63% expect to answer 10 questions or less for a personal bank account application
• 26% will abandon if asked more than 5 questions
• 20% will give up after 10 minutes
• 1 in 3 have stopped or reduced use of existing accounts due to complex identity checks
• 39% have abandoned personal loan applications due to time-consuming processes

The study highlights the need for financial institutions to streamline processes while balancing security concerns. Ease of use and speed are top priorities for digital applications, but in-branch security is still valued highly.

FICO reported strong Q3 fiscal 2024 results, with revenues of $447.8 million, up from $398.7 million in the prior year. GAAP EPS was $5.05, slightly down from $5.08, while Non-GAAP EPS increased to $6.25 from $5.66. Scores revenues grew 20% to $241.4 million, driven by a 27% increase in B2B revenue. Software revenues rose 5% to $206.4 million, with Software Annual Recurring Revenue up 10% year-over-year. The company raised its full-year guidance, projecting revenues of $1.7 billion and Non-GAAP EPS of $23.16. FICO's CEO highlighted strong adoption of FICO 10 T and FICO Platform, contributing to significant growth across the business.

FICO, a global analytics software leader, has achieved Cloud Security Alliance (CSA) Security, Trust & Assurance Registry (STAR) Level 1 and Level 2 certifications. This recognition solidifies FICO's status as a trusted cloud provider and demonstrates its commitment to security and transparency.

The CSA STAR program is a publicly accessible registry that documents the security and privacy controls of cloud computing offerings. It ensures cloud service providers can maintain data confidentiality, integrity, and availability. FICO's achievement reflects its dedication to delivering a secure cloud environment for clients and adhering to key principles of transparency, rigorous auditing, and harmonization of standards.

Ben Nelson, FICO's chief cybersecurity officer, expressed pride in the recognition, stating it validates their commitment to client data security. Jim Reavis, CEO of CSA, praised FICO for exceeding rigorous standards and setting an industry benchmark for secure cloud computing.

FICO (NYSE:FICO), a leading predictive analytics and decision management software company, has announced a new $1 billion stock repurchase program on July 30, 2024. This program, approved by FICO's Board of Directors, follows the completion of the company's previous stock repurchase program that ran from January 2024 to July 2024. The new program is open-ended, allowing FICO to repurchase its shares from time to time in both the open market and through negotiated transactions. This move demonstrates FICO's confidence in its financial position and commitment to enhancing shareholder value.

FICO, a global analytics software leader, is hosting three free credit education events in Charlotte on August 6th, 2024. These include a Score A Better Future™ (SABF) workshop for adults and two Score A Better Future Fundamentals events for teens. The events aim to enhance participants' understanding of financial health, credit, and the FICO® Score.

In collaboration with Chelsea FC and the U.S. Soccer Foundation, participants will receive free tickets to the Chelsea vs Real Madrid match. Congresswoman Alma Adams will attend the teen event. The initiative is part of FICO's 'Fields of Financial Empowerment' tour, addressing the need for improved financial literacy across the United States.