FICO's Transformation: Leveraging AWS for Rapid Innovation and Cost Reduction
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Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Dock Management Systems (DMS)
Applicable Industries
- Cement
- National Security & Defense
Applicable Functions
- Product Research & Development
- Quality Assurance
Use Cases
- Leasing Finance Automation
- Tamper Detection
Services
- Cloud Planning, Design & Implementation Services
About The Customer
FICO is a leading predictive-analytics and decision-management software company that provides a popular credit-scoring service and other analytics software and tools. The company serves 95 percent of the largest U.S. financial institutions, making it a significant player in the industry. FICO's flagship product is the FICO Decision Management Suite (DMS), which helps customers drive business transformation through predictive analytics, business rules management, and optimization. The company has a strong focus on delivering rapidly deployed, cutting-edge solutions to its customers to maintain its industry leadership.
The Challenge
FICO, a leading predictive-analytics and decision-management software company, was facing challenges in rapidly developing and deploying its solutions, including its flagship FICO Decision Management Suite (DMS). The company, which provides services to 95 percent of the largest U.S. financial institutions, was traditionally an on-premises software company. This approach often resulted in years-long development and delivery timelines, hindering the company's ability to provide timely solutions to its customers. FICO wanted to focus on implementing its software rather than waiting for customers’ IT organizations to provision and build the underlying infrastructure for its solutions. Additionally, FICO needed to ensure strong security and compliance with Payment Card Industry (PCI), General Data Protection Regulation (GDPR), and other regulations in its operations.
The Solution
To address these challenges, FICO decided to move DMS and other solutions to the cloud. The company chose Amazon Web Services (AWS) as its cloud provider, primarily due to the integrated security capabilities of AWS. FICO was particularly interested in AWS Lambda, a service that provides serverless compute capabilities, allowing customers to run code without the need to provision or manage servers. This enabled FICO's developers to focus more on creating features and functionality. FICO migrated DMS and the myFICO.com customer-facing website to AWS, running on Amazon Elastic Compute Cloud (Amazon EC2) instances and heavily relying on AWS Lambda for serverless compute. To manage security and compliance, FICO used its own internal security practices in addition to services such as AWS CloudTrail and AWS Identity and Access Management (IAM).
Operational Impact
Quantitative Benefit
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