FICO has announced its upgraded Falcon X fraud detection software in addition to the launch of its Financial Crimes Studio.

Falcon X utilizes AI and machine learning technology aimed at preventing new forms of fraud and financial crime that are enabled by the rapid adoption of real-time payments. Running on Amazon Web Services, Falcon X streamlines both fraud detection and anti-money laundering processes.

Financial Crimes Studio is designed to shorten the time to develop and deploy real-time financial crime models through purpose-built and domain-specific FICO machine learning algorithms.

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