SAN JOSE, Calif. -

FICO continues to receive recognition for its fight against fraud.

This week, FICO announced that it has been named the category leader for enterprise fraud solutions in the Chartis 2021 RiskTech Quadrant report for the third year in a row.

FIC highlighted that the report ranks the financial services industry’s leading financial crime risk management systems based on Chartis’ analysis of market trends, expenditure patterns and best practices, which is validated through several phases of independent verification.

FICO said in a news release that it was recognized for both market potential and completeness of solution offering.

“FICO’s ranking as category leader reflects its best-in-class enterprise fraud management solutions, which had the highest possible ratings for advanced fraud detection techniques, libraries of pre-packaged fraud rules, and card fraud,” said Phil Mackenzie, senior research specialist at Chartis Research.

“FICO also delivers advanced fraud-detection capabilities in mobile fraud, electronic payments fraud, and real-time transaction monitoring, via an integrated cloud-ready platform,” Mackenzie continued.

FICO mentioned that its fraud solutions protect more than 9,000 financial institutions, telecommunication organizations, auto financers and government agencies from financial losses as well as damages caused by criminal behavior.

Since the onset of the COVID-19 pandemic, the company said more enterprises are relying on FICO’s analytics software platform to make smarter decisions, streamline operations, and protect organizations against the latest fraud and financial crime threats.

“FICO is proud to have its cutting-edge solutions recognized by Chartis as the category leader in financial crime risk management systems,” FICO vice president of product management Tim Van Tassel said.

“At FICO, we are committed to helping our clients use our award-winning solutions to prevent fraudulent activity as well as developing an industry leading AI, machine learning and analytics platform,” Van Tassel continued.

Published annually, Chartis’ RiskTech Quadrant reports are prepared by analysts with extensive hands-on experience of selecting, developing, and implementing risk management systems for a variety of international companies across multiple industries including banking, insurance, capital markets, energy and the public sector.

“Recognition as the category leader for three years in a row further highlights FICO’s ongoing investment in innovation, our close partnership with clients and our dedication to delivering the industry standard for enterprise fraud solutions,” FICO chief marketing officer Nikhil Behl said.

For more information, you can download the complete Chartis report on this website.