FICO and Network International Build on Partnership to Help Middle East and Africa Lenders Expand Digital Economy
Published On : 18 July 2022
Network International now offers lenders advanced fraud protection across retail banking products backed by FICO credit decision systems
Global analytics software provider FICO and Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA), announced today that they have expanded their partnership to bring lenders the most powerful fraud protection and credit management solutions. These solutions, available in hosted mode from Network International, will help financial services providers expand the digital economy across the region.
The two companies have been working together since 2017, when Network International began offering its customers FICO® Falcon® Fraud Manager, the world’s leading credit fraud solution, which protects more than 2.6 billion payment cards worldwide. Now lenders can use Falcon at Network International to protect all retail banking accounts.
Network International is also installing FICO® Blaze Advisor® Decision Management System in its data centres, so that it can offer hosted credit management services to lenders. Banks and other credit providers can use these services to make real-time approvals on credit applications while controlling risk, and to manage their portfolio of accounts with highly targeted, risk-aware offers and decisions.
Hany Fekry, Group Managing Director, Processing at Network International, commented, “We are delighted to expand upon our partnership with FICO to further strengthen our credit management value proposition to our MEA clients. Over the last few years, we have witnessed the accelerated transition to digital payments in the region, making credit controls for real-time decisions more crucial than ever. As a leading enabler of digital commerce, we continue to anticipate, adapt, and advance upon evolving trends with the global gold standard for fraud decisioning and prevention. We are confident that FICO’s innovative technology-led solutions combined with our local expertise will enhance our solutions portfolio and help cement our leadership position in the market.”
“The low entry cost for our decision management services means lenders of all sizes have access to our world-leading solutions,” said Mark Farmer, who manages partner relationships for FICO in EMEA. “Our solutions will be a great boon to not only the region’s lenders but their customers as well. We expect our expanded partnership with Network International to result in lower fraud losses, better protection for consumers and ultimately better credit offers.”
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, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.