US-based multi-cloud data platform Teradata and analytics software provider FICO are partnering to introduce integrated analytic solutions for real-time payments fraud, supply chain optimisation, and insurance claims.

By launching data, analytics, and insights together in one environment, FICO expects to optimise the development of solutions for use cases across industries. Besides, this is anticipated to expedite time-to-delivery and make the solutions available for joint customers sooner.

The solutions will provide Teradata and FICO customers with reduced costs, enhanced profits, increased risk mitigation, and greater customer satisfaction, said the analytics software provider. 

FICO partnerships senior vice president Alexandre Graff said: “Behind these solutions and others we are developing is incredible IP in decision management technology, predictive analytics, mathematical optimisation and other areas.

“Teradata and FICO both have outstanding teams and technologies for operational analytics. Together we can make breakthroughs that help businesses worldwide prosper.”

Through the partnership, the firms aim to offer a fraud solution designed for real-time payments that will help reduce the rising scams and payments fraud in retail banking accounts.

By combining FICO’s Falcon Fraud Manager, consortium data, and neural network models, with Teradata’s capabilities in artificial intelligence (AI) or predictive and prescriptive analytics, the firms plan to offer a complete view of a banking customer’s transactional and payments activity.

Teradata WW partners and alliances senior vice president Lisa Stewart said: “AI is changing everything, and business will need to adjust to both the threats and the opportunities.

“From fighting fraud to managing global supply chains, AI-powered analytics and advanced decision management are the new requirements for keeping up as well as creating advantage.

“These are the core competencies of Teradata and FICO, and our partnership will make it easier for our joint customers to innovate in this new AI-driven reality.”

The firms have also developed a decision automation solution to expedite the inclusion of patient insights into the operations of case managers, claims adjusters, and special investigations units.

According to the companies, their joint solutions will be available in Q3 2023 across multi-cloud and hybrid environments worldwide.