Partnership will offer SaaS decision management solutions and bolster financial crime compliance
Analytics software provider FICO has partnered with IT consultancy firm Net.Bit to elevate operational efficiency, bolster security measures, and ensure regulatory compliance for financial institutions in Europe, the Middle East and Africa. Net.Bit will sell and implement FICO’s decision management solutions, particularly its powerful FICO® Blaze Advisor® decision rules management system, which is in use at hundreds of firms worldwide.
“This partnership represents a significant stride forward for firms looking to improve their efficiency and compliance”
Net.Bit and FICO have already made FICO Blaze Advisor as a SaaS offering, hosted in Net.Bit’s data centres. Leveraging their two decades of experience in IT engineering and consulting, Net.Bit will ensure seamless integration of FICO solutions and tailor them to each organization’s needs. Net.Bit will also offer a compliance solution that integrates FICO Blaze Advisor with one of the leading platforms to detect financial crime and suspicious activities. FICO Blaze Advisor will generate fraud alerts based on suspicious payment transactions, and the alerts will be managed in the platform’s case management tool, providing an integrated fraud and financial crime solution.
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“This partnership represents a significant stride forward for firms looking to improve their efficiency and compliance,” said Georgi Milev, CEO of Net.Bit. “FICO’s solutions offer cutting-edge analytics, decision management, and optimization capabilities. Making these solutions available through Net.Bit’s proven multi-vendor SaaS gives businesses a fast track to ROI.”
“We have conducted several proof-of-concept projects for businesses, which have demonstrated the tremendous value that FICO Blaze Advisor offers as a SaaS solution through Net.Bit,” said Alexandre Graff, SVP of Global Partners & Alliances at FICO. ”Through this partnership, businesses can accelerate their innovation, optimize decisions, manage risk more effectively and ensure regulatory compliance.”
FICO Blaze Advisor is a powerful decision management platform that enables organizations to automate and optimize complex business decisions using rules and predictive analytics. The solution caters to the specialized needs of the banking and financial sector, offering advanced analytics and decision management.
Net.Bit provides a wide range of services spanning from consultancy for compliance, information security, and personal data protection, to data centers where it provides services such as DRL and SaaS. Through its own data centres, Net.Bit offers a holistic suite of business, compliance and transaction monitoring solutions as a multi-vendor SaaS solution provider. With 20 years of experience, Net.Bit has established itself as a trusted advisor in the IT industry, particularly within the banking and financial sector. Their comprehensive knowledge of local regulations, combined with their extensive network of existing clients, positions them as a key player in the market. Net.Bit’s commitment to delivering tailored IT solutions and consultancy services has garnered them a loyal customer base comprising financial institutions seeking top-notch IT services and compliance expertise.
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 other countries, improving risk management, credit access and transparency.
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