How does progress in artificial intelligence stack up to the FICO credit score model?

Blending artificial intelligence, machine learning and domain expertise in the design of credit scores - a video discussion with Agus Sudjianto

A price elasticity model enables the product team to set deposit rates with a sound understanding of the expected performance from the rate strategy

Azerbaijan's largest bank has started using FICO software to take an integrated approach to combating financial crime - money laundering and terrorist finance

Fraud and compliance must work together to put the customer at the heart of eKYC strategy

The availability of leaked documents such as the Paradise and Panama Papers provides an alternative source of data that can help identify suspicious organizations

The key to reducing false positives while detecting more money laundering and other financial crimes is to radically improve detection

FICO Scores R&D has empirically investigated potential benefits and risks associated with using some of the latest AI and machine learning approaches for credit scoring.

Due to all the fines and scandals in 2018, I am convinced that AI will play a more important role in financial crime compliance.

To comply with tax regulations, it is a must for a bank to check customers against these lists to avoid non-compliance, a damaged reputation and the support of illegal activity.

The directives are clear for all EU entities, and the lack of compliance in the recent Baltics case has hurt the bank's share price and reputation.

My presentation on “Transparency by Design: An Explainable AI Approach to Credit Risk Scoring” discusses our application of recent machine learning technologies to challenge the US FICO® Score.

Banks are really starting to take a more integrated approach to financial crime management, and our announcement today about First National Bank (FNB) of Lebanon is a case in point.

Clearly, we need other approaches to AML case management than hiring investigators. An increase in both effectiveness and efficiency of the overall compliance process is required.

How are advances in artificial intelligence and machine learning changing credit risk assessment? That’s a topic I’ll be exploring in three presentations at FICO World 2018.