FICO Falcon Platform vs IBM Safer Payments comparison

FICO and IBM are both solutions in the Fraud Detection and Prevention category. FICO is ranked #3 with an average rating of 8.5, while IBM is ranked #4 with an average rating of 8.0. FICO holds a 9.1% mindshare in FDP, compared to IBM’s 4.6% mindshare. Additionally, 100% of FICO users are willing to recommend the solution, compared to 100% of IBM users who would recommend it.

FICO Falcon Platform

Read 2 FICO Falcon Platform reviews

1,792 Views
1,059 Comparison Views

100% willing to recommend

IBM Safer Payments

Read 1 IBM Safer Payments review

1,176 Views
649 Comparison Views

100% willing to recommend

FICO Falcon Platform

IBM Safer Payments

Comparison Buyer's Guide

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Executive Summary

We performed a comparison between FICO Falcon Platform and IBM Safer Payments based on real PeerSpot user reviews.

Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention.

To learn more, read our detailed Fraud Detection and Prevention Report (Updated: November 2024).

Buyer's Guide

Fraud Detection and Prevention

November 2024

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Helped 824,067 peers since 2012

Categories and Ranking

FICO Falcon Platform

Ranking in Fraud Detection and Prevention

3rd

Average Rating

8.6

Reviews Sentiment

5.5

Number of Reviews

Ranking in other categories

No ranking in other categories

IBM Safer Payments

Ranking in Fraud Detection and Prevention

4th

Average Rating

8.0

Reviews Sentiment

7.2

Number of Reviews

Ranking in other categories

No ranking in other categories

Mindshare comparison

As of December 2024, in the Fraud Detection and Prevention category, the mindshare of FICO Falcon Platform is 9.1%, up from 7.2% compared to the previous year. The mindshare of IBM Safer Payments is 4.6%, down from 5.2% compared to the previous year. It is calculated based on PeerSpot user engagement data.

Fraud Detection and Prevention

Featured Reviews

Lester Ayllon

Senior Systems Analyst at Itau Unibanco S.A.

It can set rules to identify suspicious activity at each point of sale during every transaction

I previously worked at Santander Bank FICO and Oracle. It was only about six months. FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now. Our solution here in Brazil doesn't work for Europe, Africa, the USA, Canada, or Mexico. It's unique to Brazil and designed based on the transaction patterns of people living here. FICO has all the information on our transactions, and the logs of old transactions are on the central server. It's the same for other banks like Fordesco, Santandar, CitiBank, etc. All these banks send their transactions to the server, and FICO Analytics uses all the information about transactions in Brazil to build a model.

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Yurii Fedets

Director at Solidity

Helps determine whether a transaction is correct or fraudulent

It's a very fast solution. It can make decisions in 10, 20 or 30 milliseconds. Another feature is that it's a white-box solution. Our clients can see the system's operation, including the rules influencing each decision. Additionally, it's an omnichannel solution capable of utilizing information from various digital channels such as card processing, mobile banking, web banking, APMs, and others. This allows for transaction analysis. Moreover, it's a highly adaptable solution that can integrate machine learning, both external and internal models, making it easy to implement. Compared to competitors, it's one of the easiest solutions to implement. The tool allows historical data to be leveraged within the system to train models without needing external systems. Secondly, it supports external modeling systems, enabling customers to create and train models outside the product and then integrate them into the system. This is useful for customers who utilize other machine learning and artificial intelligence systems alongside IBM Safer Payments.

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Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:

Pros

"It can make real-time decisions or real-time declines."

"FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now."

"It's a very fast solution. It can make decisions in 10, 20 or 30 milliseconds. Another feature is that it's a white-box solution. Our clients can see the system's operation, including the rules influencing each decision. Additionally, it's an omnichannel solution capable of utilizing information from various digital channels such as card processing, mobile banking, web banking, APMs, and others."

Cons

"When setting up rules or parameters, some coding is required, and the learning curve is quite steep."

"I've had bad experiences with FICO support. At the bank, we've faced critical problems where we only had minutes to find the solution, and it's hard to explain quickly. We contacted FICO, but they told us it was beyond their scope of support. They try to triage the call by asking us how much money we're losing, but I can't go into that."

"The tool should enhance its reporting interface by adding more graphical elements like charts, diagrams, etc. Customers now want more vibrant visuals—bright charts with larger tables, perhaps incorporating animations and 3D elements. Sometimes, it's challenging to explain to customers why the current solution, while good, lacks these kinds of visuals."

Pricing and Cost Advice

"The functionality is fine, but the price is getting more expensive."

"FICO is one of the best fraud detection platforms. However, a small bank might find it too expensive. In that case, I would agree it's probably not worth it. However, it's a no-brainer if your bank has 50 million accounts and 7 million credit card transactions daily."

"I rate the solution's pricing a seven out of ten."

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824,067 professionals have used our research since 2012.

Top Industries

By visitors reading reviews

Financial Services Firm

38%

Computer Software Company

16%

Government

Manufacturing Company

Financial Services Firm

44%

Computer Software Company

19%

Real Estate/Law Firm

University

Company Size

By reviewers

Large Enterprise

Midsize Enterprise

Small Business

No data available

Questions from the Community

What do you like most about FICO Falcon Platform?

FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until ...

See all answers

What is your experience regarding pricing and costs for FICO Falcon Platform?

It is expensive.

See all answers

What needs improvement with FICO Falcon Platform?

FICO users are business users, not developers. When setting up rules or parameters, some coding is required, and the learning curve is quite steep. This is a disadvantage of FICO. Additionally, the...

See all answers

What is your experience regarding pricing and costs for IBM Safer Payments?

I rate the solution's pricing a seven out of ten.

See all answers

What needs improvement with IBM Safer Payments?

The tool should enhance its reporting interface by adding more graphical elements like charts, diagrams, etc. Customers now want more vibrant visuals—bright charts with larger tables, perhaps incor...

See all answers

What is your primary use case for IBM Safer Payments?

Our customers use this solution to check financial transactions for their payments. Our customers, mainly banks, use this solution to verify the accuracy of their clients' financial transactions. T...

See all answers

Comparisons

SAS Fraud Management vs FICO Falcon Platform

Compared 31% of the time

ThreatMetrix vs FICO Falcon Platform

Compared 19% of the time

Featurespace ARIC Fraud Hub vs FICO Falcon Platform

Compared 11% of the time

ACI Fraud Management vs FICO Falcon Platform

Compared 11% of the time

Nice Actimize Fraud & Authentication Management vs FICO Falcon Platform

Compared 9% of the time

More FICO Falcon Platform Competitors

IBM Trusteer vs IBM Safer Payments

Compared 19% of the time

Nice Actimize Fraud & Authentication Management vs IBM Safer Payments

Compared 17% of the time

SAS Fraud Management vs IBM Safer Payments

Compared 17% of the time

IBM Financial Crimes Insights (FCI) vs IBM Safer Payments

Compared 8% of the time

Featurespace ARIC Fraud Hub vs IBM Safer Payments

Compared 7% of the time

More IBM Safer Payments Competitors

Product Reports

Buyer's Guide

Fraud Detection and Prevention

November 2024

Download FICO Falcon Platform product report

Buyer's Guide

Fraud Detection and Prevention

November 2024

Download IBM Safer Payments product report

Also Known As

Falcon Platform

No data available

Learn More

FICO

IBM

Overview

Consumer banking preferences are changing - fast. Customers want to transact how and when they choose, without latency. They want a banking relationship that’s 100% convenient and 100% secure. The FICO Falcon Platform, the world’s most intelligent fraud platform, advances the consumer experience by extracting frauds from real time payment streams while remaining invisible during legitimate transactions.

With over 70 patents in fraud-specific machine learning and AI, the FICO Falcon Platform helps financial institutions detect and prevent fraud seamlessly, in real time, all while improving the bottom line and advancing the consumer experience.

The FICO Falcon Platform allows you to score transactions, across a rapidly expanding array of payment options, and understand customer behavior patterns so you can intelligently prevent and monitor suspicious and fraudulent behavior.

Adapt faster to changing threats and new products by dramatically shrinking the time it takes to test and deploy new profiles, rules, and models. Using a unique cognitive computing approach, IBM Safer Payments profiles the behavior of any entity and delivers best-fit analytics interactively to fraud professionals. This proven technology is already protecting some of the world's largest and most complex payment portfolios. Outthink fraud by rethinking detection.

Sample Customers

Information Not Available

Borgun

Buyer's Guide

Fraud Detection and Prevention

November 2024

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Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention. Updated: November 2024.

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