GFT and FICO Partner to Combat Rising Financial Fraud
Financial fraud continues to rise across developed markets. In the United States, losses reached US$12.5bn in 2024, while online crime generated US$16.6bn in damages. European payment fraud exceeded €2bn (US$2.3bn) during the first six months of 2023 alone.
These escalating figures have prompted financial institutions to seek more sophisticated defence mechanisms, increasing demand for advanced technologies capable of identifying and preventing fraudulent activity before it impacts customers and businesses.
As criminals deploy increasingly complex tactics, the industry faces mounting pressure to modernise its approach to risk management and fraud prevention.
GFT Technologies has formed a partnership with FICO to address these threats through artificial intelligence and real-time decision systems. The collaboration combines GFT's capabilities in cloud computing and digital banking with FICO's platforms for fraud detection, credit risk assessment and decision management.
This alliance could signal a change in how financial institutions approach the growing challenge of protecting customer assets and maintaining trust in digital transactions.
Real-time analytics across Asia
The partnership has completed initial deployments across two continents. A digital bank in Asia implemented FICO's real-time analytics to support rapid decision-making and risk controls. GFT and FICO established digital onboarding systems, identity verification processes and continuous monitoring throughout customer relationships.
"This partnership reflects what the market needs most: speed, trust, and intelligence at scale," says Marco Santos, Global CEO of GFT. "Together with FICO, we are helping institutions around the world rethink how they respond to risk and deliver better, safer experiences for their customers."
Decision management for insurers
In Latin America, GFT deployed demand management systems for a large insurance company using FICO Platform's decision engine. The implementation enabled the insurer to classify and prioritise projects based on strategic data and defined parameters, directing resources towards initiatives with measurable returns.
The alliance will integrate GFT's Wynxx platform, which automates phases of software development. Wynxx analyses data patterns and identifies hidden insights before processing through FICO solutions.
This system covers decision orchestration, fraud detection, credit risk management and customer communications across the entire customer lifecycle.
Global protection through technology
“Our innovations combine machine learning, 360-degree views of customer behaviour, and decision optimisation to power smarter decisions that detect fraud earlier and build customer trust"
FICO currently protects more than 4 billion payment accounts worldwide through its fraud prevention systems. The company's technology combines machine learning with customer behaviour analysis and decision optimisation to identify fraudulent activity before transactions completed.
GFT has established a Centre of Excellence dedicated to FICO technologies. The facility will train technical teams and support standardised deployments across banking and insurance sectors in multiple markets.
Financial institutions gain access to integrated systems that handle identity verification at onboarding and maintain continuous monitoring as customer relationships develop. Banks can establish rules-based frameworks that operate in real time without introducing delays in transaction processing or manual review steps.
Insurance companies can apply the same decision frameworks to policy management and claims processing, establishing systems that prioritise resources based on risk levels and strategic objectives.
"FICO's solutions include a category leader in fraud prevention, protecting more than 4 billion payment accounts worldwide," says Alexandre Graff, FICO Vice President for Global Partners & Alliances.
"Our innovations combine machine learning, 360-degree views of customer behaviour, and decision optimisation to power smarter decisions that detect fraud earlier and build customer trust. Our partnership with GFT will bring this power to more businesses worldwide, helping them protect their customers in an increasingly dangerous online world."
