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TD Wins 2024 FICO Decisions Award for its Achievements in Fraud Management

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TD wins the 2024 FICO Decisions Award for Fraud Management at the FICO World conference. The collaboration between TD and FICO has enhanced the bank's data-driven fraud detection and prevention capabilities. TD successfully implemented the TD North American Fraud Detection Platform with the help of FICO, integrating real-time customer and financial payments data for advanced fraud detection. The implementation involved multiple business units and focused on protecting TD customers from evolving fraud tactics. FICO Platform enables real-time fraud health monitoring to combat fraud trends and threats efficiently. TD's use of FICO Platform has improved fraud detection, prevention, and management capabilities, leading to better customer experiences and agility in fraud monitoring.
TD vince il premio FICO Decisions 2024 per la Gestione delle Frodi alla conferenza FICO World. La collaborazione tra TD e FICO ha potenziato le capacità della banca di rilevamento e prevenzione delle frodi basate sui dati. TD ha implementato con successo la Piattaforma di Rilevamento Frodi Nordamericana TD con l'aiuto di FICO, integrando dati dei clienti e pagamenti finanziari in tempo reale per un rilevamento avanzato delle frodi. L'implementazione ha coinvolto molteplici unità aziendali e si è concentrata sulla protezione dei clienti TD dalle tattiche di frode in evoluzione. La Piattaforma FICO consente il monitoraggio della salute antifrode in tempo reale per combattere in modo efficiente le tendenze e le minacce di frode. L'uso della Piattaforma FICO da parte di TD ha migliorato le capacità di rilevamento, prevenzione e gestione delle frodi, portando a esperienze migliori per i clienti e maggiore agilità nel monitoraggio delle frodi.
TD gana el Premio a la Gestión de Fraude FICO Decisions 2024 en la conferencia FICO World. La colaboración entre TD y FICO ha mejorado las capacidades de detección y prevención de fraude basadas en datos del banco. TD implementó con éxito la Plataforma de Detección de Fraude de América del Norte de TD con la ayuda de FICO, integrando datos de clientes y pagos financieros en tiempo real para una detección de fraude avanzada. La implementación involucró a varias unidades de negocio y se centró en proteger a los clientes de TD contra tácticas de fraude en evolución. La Plataforma FICO permite el monitoreo de la salud contra el fraude en tiempo real para combatir tendencias y amenazas de fraude de manera eficiente. El uso de la Plataforma FICO por parte de TD ha mejorado las capacidades de detección, prevención y gestión de fraude, lo que lleva a mejores experiencias de los clientes y agilidad en el monitoreo de fraude.
TD가 FICO World 컨퍼런스에서 2024년 FICO Decisions 부정 관리 상을 수상하였습니다. TD와 FICO 간의 협력은 은행의 데이터 기반 부정 탐지 및 예방 능력을 강화하였습니다. TD는 FICO의 도움으로 TD 북미 부정 탐지 플랫폼을 성공적으로 구현하여 고급 부정 탐지를 위해 실시간 고객 및 금융 결제 데이터를 통합하였습니다. 구현은 여러 사업부를 포함하고 진화하는 부정 전술로부터 TD 고객을 보호하는 데 중점을 두었습니다. FICO 플랫폼은 실시간으로 부정 건강 모니터링을 가능하게 하여 효율적으로 부정 추세와 위협을 대응할 수 있습니다. TD의 FICO 플랫폼 사용은 부정 탐지, 예방 및 관리 능력을 향상시켜 고객 경험을 개선하고 부정 모니터링의 민첩성을 높였습니다.
TD remporte le prix FICO Decisions 2024 pour la gestion de la fraude lors de la conférence FICO World. La collaboration entre TD et FICO a renforcé les capacités de détection et de prévention de la fraude basées sur les données de la banque. TD a mis en œuvre avec succès la Plateforme de Détection de Fraude Nord-Américaine de TD avec l'aide de FICO, en intégrant des données clients et de paiements financiers en temps réel pour une détection de fraude avancée. La mise en œuvre a impliqué plusieurs unités d'affaires et s'est concentrée sur la protection des clients de TD contre les tactiques de fraude en évolution. La Plateforme FICO permet une surveillance en temps réel de la santé anti-fraude pour lutter efficacement contre les tendances et les menaces de fraude. L'utilisation de la Plateforme FICO par TD a amélioré les capacités de détection, de prévention et de gestion de la fraude, conduisant à de meilleures expériences clients et à une plus grande agilité dans la surveillance de la fraude.
TD gewinnt den FICO Decisions Award 2024 für Betrugsmanagement auf der FICO World Konferenz. Die Zusammenarbeit zwischen TD und FICO hat die datengesteuerte Betrugserkennung und -prävention der Bank verbessert. TD hat mit Hilfe von FICO erfolgreich die TD North American Fraud Detection Plattform implementiert, indem es Echtzeit-Kundendaten und Finanzzahlungsdaten für fortschrittliche Betrugserkennung integrierte. Die Implementierung umfasste mehrere Geschäftseinheiten und konzentrierte sich darauf, TD-Kunden vor sich entwickelnden Betrugstaktiken zu schützen. Die FICO Plattform ermöglicht Echtzeitüberwachung der Betrugsgesundheit, um Betrugstrends und -bedrohungen effizient zu bekämpfen. Der Einsatz der FICO Plattform durch TD hat die Fähigkeiten zur Betrugserkennung, -prävention und -management verbessert, was zu besseren Kundenerfahrungen und mehr Agilität in der Betrugsüberwachung geführt hat.
Positive
  • TD wins the 2024 FICO Decisions Award for Fraud Management at the FICO World conference.
  • Collaboration between TD and FICO enhances the bank's data-driven fraud detection and prevention capabilities.
  • TD successfully implements the TD North American Fraud Detection Platform with FICO's help for advanced fraud detection.
  • FICO Platform enables real-time fraud health monitoring to combat evolving fraud trends and threats efficiently.
  • TD's use of FICO Platform improves fraud detection, prevention, and management capabilities, leading to better customer experiences and agility in fraud monitoring.
Negative
  • None.

SAN DIEGO--(BUSINESS WIRE)-- FICO World – FICO (NYSE: FICO)

Highlights:

  • TD and FICO are working together to enhance the Bank's data-driven fraud detection and prevention capabilities.
  • FICO® Platform and the TD North American Fraud Detection Platform also support real-time fraud health monitoring that is helping the Bank keep a constant pulse on fraud trends and new threats.

At its annual FICO® World conference today, global analytics software leader FICO announced TD, a leading North American bank with over 27.5 million customers has won a 2024 FICO® Decisions Award for Fraud Management. TD collaborated with FICO to support the development of the TD North American Fraud Detection Platform that integrates real-time customer and financial payments data to power advanced fraud-detection capabilities.

TD worked closely with FICO to help enhance the Bank’s data-driven fraud detection and prevention measures. Within 12 months, TD successfully established a new enterprise capability by leveraging the real-time, data-driven analysis, modeling and advanced analytics, and AI-powered capabilities of FICO® Platform.

Anchored within the Bank's Fraud Performance and Operations teams, the implementation of FICO Platform and the TD North American Fraud Detection Platform involved more than a dozen business units across the Bank, working together – all of which are focused on supporting TD customers at a time when the pace of change is moving faster than ever, and the tactics used by fraudsters continue to evolve.

“I am thrilled by the work that our dedicated teams have done together to advance our data-driven fraud detection capabilities. Utilizing our combined technical skills and platform insights, our teams are focused on helping to protect and empower our customers,” said Sophia Leung, senior vice president, Protect Platform, TD.

FICO® Platform and the TD North American Fraud Detection Platform will also support real-time fraud health monitoring that is helping the Bank keep a constant pulse on fraud trends and new threats that impact the Bank now or in the future.

A recent study from FICO highlighted that 69% of North American consumers rank good fraud protection as one of their top three considerations when choosing a financial services provider. By leveraging FICO Platform, TD Fraud Performance teams can make rule adjustments and contextualized assessments in real-time to combat fraud threats, and the TD Fraud Operations teams can respond and action alerts efficiently with relevant data at their fingertips.

“Answering the need for greater agility, building greater intelligence in fraud monitoring and improving customer experiences, TD set out to evolve their fraud monitoring and detection capabilities,” said Nikhil Behl, chief marketing officer and executive vice president at FICO. “FICO Platform’s unique analysis and data orchestration capabilities have empowered TD to uplift their fraud detection, prevention and management capabilities."

“One of the biggest impacts that TD experienced in its use of FICO Platform was its ability to understand the specific data and insights that create meaningful and important impacts throughout its analysis,” added Eric Kavanagh, CEO Bloor Group, host of InsideAnalysis and one of the FICO Decisions Award judges. “With these insights, TD has been able to select the best data to inform their assessments without incorporating unnecessary data ‘noise’ into the workflow, allowing for faster deployment of fraud-prevention solutions.”

For more information: https://www.fico.com/en/customer-lifecycle/protect-and-comply

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 17 million active online and mobile customers. TD had $1.91 trillion in assets on January 31, 2024. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

About the FICO® Decisions Awards

The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2024 judges are:

  • Andrew Birmingham, editor, Mi3
  • Eric Kavanagh, CEO Bloor Group and host, InsideAnalysis
  • Elizabeth Lumley, deputy editor, The Banker
  • Paul Mah, senior editor, CDO Trends
  • Laura Martins, editor, IT Forum
  • Paul Robinson, VP credit management at Canadian Tire Bank (previous winner)
  • Shiv Sehgal, EVP audience analytics at RSG Media (previous winner)
  • Nick Vitchev, director at Chartis

The winners of the FICO Decisions Awards are spotlighted at FICO® World 2024, April 15 – April 18, 2024 in San Diego, California

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com.

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.

Julie Huang

FICO

press@FICO.com

Laura Butcher

TD

laura.butcher@td.com

Source: FICO

FAQ

What award did TD win at the FICO World conference in 2024?

TD won the FICO Decisions Award for Fraud Management.

How did TD collaborate with FICO to enhance fraud detection capabilities?

TD collaborated with FICO to develop the TD North American Fraud Detection Platform, integrating real-time customer and financial payments data for advanced fraud detection.

What capabilities does the FICO Platform provide for TD in fraud management?

FICO Platform enables real-time fraud health monitoring to combat fraud trends and new threats efficiently.

What percentage of North American consumers consider good fraud protection important when choosing a financial services provider?

69% of North American consumers rank good fraud protection as one of their top three considerations when choosing a financial services provider.

How has TD improved its fraud detection, prevention, and management capabilities?

TD's use of FICO Platform has improved fraud detection, prevention, and management capabilities, leading to better customer experiences and agility in fraud monitoring.

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