Data analytics firm FICO and international payment solutions provider Network International Holdings are reportedly extending their partnership to help lenders from the Middle East and Africa expand digital economy.
This partnership extension will bring lenders the most robust credit management and fraud protection solutions. These solutions, provided by Network International in hosted mode, will help providers of financial services extend the digital economy across the MEA region.
Both companies have been collaborating since 2017 when Network International commenced providing customers with FICO® Falcon® Fraud Manager, the leading credit fraud solution in the world. The solution safeguards over 2.6 billion payment cards around the world. Lenders can now use Falcon to protect all accounts of retail banking.
Furthermore, Network International is deploying FICO® Blaze Advisor® Decision Management System across its data centers. This will allow the company to equip lenders with hosted credit management services.
Credit providers like banks can leverage these services to make real-time credit approvals with risk regulation as well as to manage their account portfolio with risk-aware, highly-targeted decisions and offers.
Hany Fekry, Network International’s Group Managing Director in Processing expressed delight in extending the collaboration with FICO to reinforce its proposition of credit management to its clients in the Middle East and Africa.
Fekry added that the company’s local expertise in combination with FICO’s technology-led solutions will improve the solutions portfolio and help in solidifying Network International’s leading market position.
Mark Farmer, FICO’s partner relationship manager in EMEA, believes that the extended collaboration with Network International will lead to lower fraud losses, improved consumer protection, and better credit offers.
For the uninitiated, FICO was founded in 1956 and pioneers in the usage of data science and predictive analytics to enhance operational decisions.
The company holds over 200 foreign and American patents on technologies that enhance customer satisfaction, increase profitability, and business growth in telecommunications, financial services, retail, and healthcare, among other industries.