SAN JOSE, Calif., April 1, 2013 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of analytics and decision management technology, today announced it has acquired Infoglide Software, a leading provider of entity resolution and social network analysis solutions, used primarily to improve fraud detection, security and compliance. The transaction is closed.
Infoglide's solutions expedite fraud investigations and will further differentiate FICO's industry-leading fraud solutions in banking, insurance, retail and healthcare, as well as enabling FICO analytics to be applied to fraud, security and compliance challenges across multiple industries, including telecommunications and cyber-security.
Established in 1996 and headquartered in Austin, Texas, Infoglide is a privately held company with clients in the banking, insurance, government, retail and healthcare industries, including the U.S. Department of Homeland Security, JP Morgan Chase, Citi and the U.S. Transportation Security Administration (TSA). Infoglide has been a close partner of FICO, and the Infoglide Identity Resolution Engine (IRE) is already integrated with FICO fraud management applications, including FICO ® Insurance Fraud Manager."Infoglide's technology is the best at finding suspicious information in an insurance claim or financial transaction, then making links with other transactions to expose otherwise invisible patterns," said Will Lansing, FICO CEO. "We chose Infoglide because it brings to our fraud analytics three important and distinctive capabilities: entity resolution, link discovery and network visualization. These capabilities will be fully integrated with FICO's advanced predictive models and flexible business rules to give all of our clients – and every legitimate customer of theirs – the best possible protection. With this acquisition, we also gain a strong foothold in the government sector for our integrated fraud management solutions, and can extend our advanced analytics into the areas of network risk assessment, security and compliance." "No company compares with FICO for sophisticated fraud detection," said Mike Shultz, president and CEO of Infoglide Software. "Like FICO, we invested in innovation and we have more than 20 patents on our technology to prove it. Our partnership over the last two years has been an excellent trial run that demonstrated the value clients place on our combined offerings." Infoglide offers an advanced identity resolution and social network analysis software package that enables users to understand the relationships between their organization, customers, events, and third-party actors. The IRE solution enables an organization to perform real-time searches across their enterprise data to find, match, and link similar entities and uncover hidden relationship between people, places and things. The IRE can intelligently search across disparate data sources and receive very accurate results, without moving, cleaning or normalizing the data. The Infoglide technology has the industry's most advanced identity resolution/fuzzy matching logic with powerful 'false positive/negative' tuning. This enables FICO solutions to identify non-obvious relationships between entities, and assess the collective risk of associated individuals, devices, transactions and events.