GFT Technologies, a global digital transformation company, and FICO, a leader in analytic software, have announced a global partnership aimed at helping financial institutions combat rising digital fraud through real-time analytics, AI-powered decision-making, and simplified risk management.
This collaboration addresses a critical market need, as digital fraud losses in the U.
S. are projected to reach $12.5 billion in 2024, with online crime totaling $16.6 billion. In Europe, payment fraud exceeded €2 billion in the first half of 2023 alone. Marco Santos, Global CEO of GFT, stated that the partnership reflects the market’s demand for speed, trust, and intelligence at scale, enabling institutions worldwide to enhance their risk response and deliver more secure customer experiences.
The alliance combines GFT’s expertise in cloud, data, and digital banking with FICO’s established solutions for fraud detection, credit risk, and decision management. Together, they aim to provide banks and FinTechs with a unified platform to manage threats, ensure compliance, and optimize customer journeys. Early successes include projects for a digital bank in Asia, where FICO’s real-time analytics facilitated rapid decision-making and risk controls, alongside GFT and FICO enabling digital onboarding and continuous identity verification. In Latin America, GFT leveraged FICO Platform’s decision engine for a major insurance company, implementing demand management that classified, prioritized, and optimized projects based on strategic data and rules.
Rishi Chohan, CEO USA at GFT, highlighted the challenges faced by U.
S. banks in a highly regulated environment, where effective risk management is essential for compliance. He noted that fragmented risk systems have historically increased complexity and cost. The partnership seeks to overcome this by offering a consolidated platform that integrates essential risk-management tools, thereby improving efficiency, reducing costs, and strengthening compliance for banks.
A significant aspect of the partnership involves the integration of GFT’s generative AI product, Wynxx, which automates key stages of the software development lifecycle. Wynxx will serve as a catalyst in FICO implementation projects, facilitating deeper data analysis and the identification of hidden patterns before feeding information into FICO’s relevant solutions.
FICO’s solutions covered by the partnership span the entire customer lifecycle, encompassing decision orchestration, real-time fraud detection, credit risk management, and customer communication. Alexandre Graff, FICO Vice President for Global Partners & Alliances, emphasized FICO’s position as a category leader in fraud prevention, protecting over 4 billion payment accounts globally. He noted that FICO’s innovations combine machine learning, comprehensive customer behavior insights, and decision optimization to enable smarter decisions that detect fraud earlier and build customer trust. The partnership with GFT is intended to extend these capabilities to more businesses worldwide.
To facilitate global scaling, GFT has established a dedicated Center of Excellence for FICO technologies. This center will be responsible for training specialized teams and supporting standardized rollouts across the banking, insurance, and other sectors. This collaboration is designed to equip financial institutions with the tools to act faster, mitigate risk, and cultivate long-term trust in an increasingly complex fraud landscape.
