When I was working at another bank, people often complained that FICO was expensive. I would tell them that it depends on the volume—for example, the old bank million 7 million transactions. If you don't have an adequate system, you will lose more money than you would spend on Falcon. FICO can pay for itself in one or two days if you compare it to the money you would lose otherwise. 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.
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It is expensive.
When I was working at another bank, people often complained that FICO was expensive. I would tell them that it depends on the volume—for example, the old bank million 7 million transactions. If you don't have an adequate system, you will lose more money than you would spend on Falcon. FICO can pay for itself in one or two days if you compare it to the money you would lose otherwise. 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.