Equifax [1], the Atlanta, Georgia-headquartered global data, analytics, and technology company has announced a strategic partnership with FICO [2], a California based predictive analytics and data science company.
Through this partnership, FICO and Equifax are introducing the Data Decisions Cloud [3], an end-to-end data and analytics suite that addresses key needs across risk, marketing, and fraud to enable financial institutions to meet the needs of consumers faster and more precisely.
The platform integrates the Equifax Ignite platform differentiated data and analytic management with FICO's cloud applications and the FICO Decision Management Suite (DMS), a digital decisioning platform.
The companies said that this broad strategic alignment would enable organizations to easily explore differentiated data, uncover deep new insights, build highly-predictive models, and rapidly deploy decisions into production systems across the customer lifecycle. Financial institutions will benefit from an increased pace of innovation for data and decisioning, supported by incredible industry expertise and explainable artificial intelligence (AI), Equifax and FICO said in a joint statement.
“We are energized about this broad partnership between Equifax and FICO. Two industry leaders are joining forces to help financial institutions better meet the needs of consumers and improve business agility,” said Mark W. Begor, CEO of Equifax. “Our partnership will seamlessly integrate Equifax’s differentiated data assets and Ignite platform with FICO’s market-leading cloud based decisioning software and applications.”
The strategic partnership is focused on a connected, end-to-end development and decisioning management platform that allows customers to quickly explore, develop, test, and deploy powerful insights into production systems across the organization.
“Our common mission is to empower financial institutions to leverage data-driven decisioning in all their customer interactions,” said William J. Lansing, CEO of FICO. “With this strategic partnership, FICO and Equifax will help organizations operationalize the best data with unparalleled predictive analytics and applied AI, and do so in a streamlined and cost-effective way.”