CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow New FICO Enterprise Security Score for Organisations
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
New FICO Enterprise Security Score for Organisations PDF Print E-mail
Wednesday, 15 June 2016
Analytic software firm FICO announced today that it is developing a FICO® Enterprise Security Score, which will rank an organisation’s level of cybersecurity risk. To further this effort, FICO has acquired QuadMetrics, an innovative cyber risk security scoring company from Ann Arbor, Michigan. QuadMetrics leverages predictive analytics to monitor signals from open source and proprietary data sources to provide an overall security score for an enterprise, helping security professionals address gaps and enabling partners and insurers to understand a firm’s security risk. The transaction has closed, and terms have not been disclosed.  

The FICO Enterprise Security Score, a complement to FICO® Falcon® Cybersecurity Analytics for threat detection, will be an easy-to-understand metric that will facilitate board-level risk assessment, third-party vendor management, and cyber breach insurance underwriting. Along with a score, the product will provide current threat profile characteristics and granular insights into potential security issues.

FICO Falcon Cybersecurity Analytics are based on the patented behavioural analytics that have made the FICO® Falcon® Fraud Platform the world leader in payment card protection. With this acquisition and the infusion of FICO’s analytic scoring methods, FICO will provide both cybersecurity defences and an enterprise-level “cyber score” that gives an empirical, impartial measure of a company’s security.

The new product will leverage both quantitative and qualitative insights to assess and understand the risk of an organisation’s network assets. It will also help organisations manage similar risks associated with key vendors, business partners and other third parties, and enable breach insurance brokers and underwriters to better and more consistently assess enterprise risk for underwriting and portfolio management.

“We believe cybersecurity can only be substantially and sustainably improved through creating a strong ecosystem, and a vital part of that ecosystem is a common rating that all parties can use to evaluate cyber risk,” said Doug Clare, vice president of cybersecurity solutions at FICO. “We’re excited to have the QuadMetrics team – and their deep expertise – joining us in our efforts to fight cybercrime and help all organisations improve their visibility and insights into cyber risk. Just as the FICO Score gave credit markets a single metric for understanding credit risk, this product will give the industry a common view of enterprise cybersecurity risk.”

“While all organisations are leveraging both sophisticated software and expert guidance to protect themselves from cyber-attacks, it is increasingly important that other dependent parties have a common means of assessing the effectiveness of those efforts,” said Wes Huffstutter, CEO of QuadMetrics. “Clients, partners, underwriters and regulators have a stake in understanding an organisation’s level of cyber risk. FICO’s Enterprise Security Scores will provide the transparency, consistency and confidence required to strengthen the entire security ecosystem.”

QuadMetrics leverages technology developed at the University of Michigan via funding from the Department of Homeland Security Science and Technology Directorate and the National Science Foundation. In April of this year, Gartner designated QuadMetrics a Cool Vendor in Risk Management for 2016.1 In acquiring QuadMetrics, FICO becomes the exclusive licensee of QuadMetrics’ intellectual property and pending patents, and gains access to a rich historical pool of development data for additional analytics research. FICO will enhance the solution with its deep catalogue of proprietary analytics methods and its experience in developing, marketing and distributing broad-based scores for managing different classes of risks across industries. A FICO-branded and enhanced version of the QuadMetrics offering will be launched later this summer.

In related news, FICO announced in April that it had partnered with iboss Cybersecurity to embed its ground-breaking AI-based Cyber Analytics as part of the iboss node-based, direct-to-cloud, containerised platform, a leading solution for cybersecurity and malware protection.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197