Final set of announcements at FICO World relates to Cybersecurity or Cyber Threat Analytics. Obviously cyber attacks are increasing and driving a lot of fraud and abuse – phishing, malware, personal record theft etc. The big challenge in all this is the timespan. 60% of data theft happens with minutes or hours of a breach but breach detection typically takes weeks or months with nearly half taking months to find – and many times this is found by someone else. Many problems slip past the current detection mechanisms because they change rapidly. The alerts are also too numerous and undifferentiated.
FICO has been investing in taking its experience in fraud detection and applying the analytics and expertise to cyber threats. Many of its approaches, refined for credit card fraud detection, work for general cyber security too such as profiling, behavioral archetypes, behavior sorting to prioritize risks and reduce false positives, self calibrating and learning models- all combined with a consortium model to share data.
This work has been combined with iboss cybersecurity, a cloud-based platform for mobile and on-premise end point security. FICOs profiling and analytics are linked to the iboss cloud solution to drive better detection and blocking as well as improved investigation.