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FICO enables ID proofing, authentication features via EZMCOM acquisition

FICOFICO, a California-based data analytics firm has added two new products to its portfolio namely FICO Identity Proofing and FICO User Authentication to combat fraud.

FICO Identity Proofing will allow organizations to digitally onboard new customers without requiring in-person verification while FICO User Authentication will offer features like multifactor, biometric, and behavioral authentication.

To support the effort, the company has acquired Santa Clara, California-based EZMCOM, whose products are used by banks globally to protect more than 60 million customers, according to a statement.

With FICO Identity Proofing, organizations can verify customers’ identities by having them take selfies with their government-issued IDs. Within seconds, the solution verifies the ID’s legitimacy, performs an AI-driven biometric analysis, and performs liveness tests against the selfie to prevent spoofing.

FICO authentication solution is expected to offer organizations the power of layered authentication controls. Thorough analysis and device telemetry facilitate easy verification of legitimate customers. Machine learning-driven risk scores to invoke step-up actions to multifactor or biometric options, to reduce account takeover fraud, while streamlining the customer experience.

The two solutions will offer easy-to-use, integrated security across the customer lifecycle to support fully digital onboarding, eKYC, and PSD2 mandated customer authentication.

“By adding this technology to our portfolio, we will provide our clients with a seamless approach to authentication and customer onboarding – across digital channels, mobile devices, servers, and workstations.” Claus Moldt, CTO at FICO commented.

FICO leverages predictive analytics and data science to improve operational decisions. It holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction, and growth for businesses in financial services, telecommunications, health care, retail, and other industries.

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