Today, Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), announced that Fico (NYSE: FICO) has selected AWS as its cloud provider.
FICO has migrated several core applications, including myFICO.com and its flagship analytics platform, the Decision Management Suite (DMS), to AWS, and will migrate additional applications over the next three years. Going cloud-first with AWS will give teams across FICO access to the most comprehensive set of cloud capabilities, proven security and compliance, and unmatched operational expertise, allowing them to deliver high-volume analytics software and tools to enterprises around the globe, including 95 percent of the largest financial institutions in the US.
FICO began its migration to AWS with DMS, a platform for operationalizing real-time analytics and decisions. DMS is also the foundation for all of FICO’s solutions, which drive business transformation through predictive analytics, business rules management, and optimization to institutions and consumers around the world. When FICO decided to offer DMS as a SaaS solution, it turned to AWS for its proven security, PCI compliance, and breadth and depth of cloud capabilities, including serverless computing, containers, analytics, and machine learning. AWS enables FICO to deploy new applications more quickly, while reducing costs, and keeping financial data secure.
“When we started to plan for our digital transformation, time to value, velocity, scalability, cost control and security were our top priorities. AWS’s experience with other companies in highly regulated industries, combined with its industry leading technology, made AWS the obvious choice for FICO,” said Jeet Kaul, VP Engineering at FICO. “Today, we’re taking a cloud-first approach to development with AWS as our cloud infrastructure provider. This will allow us to get out of the business of building data centers, so we can continue our 60-plus-year history of pioneering data and analytics software to help businesses improve the precision, consistency, and agility of their complex decisions.”
“Cloud has become the new normal for even the most highly regulated, data-sensitive organizations like FICO,” said Mike Clayville, Vice President, Worldwide Commercial Sales at AWS. “FICO has long been a leader in applying analytics and algorithms to help enterprises – from financial institutions and telecommunications firms to automakers, retailers and manufacturers – use data to make better decisions. By taking advantage of the cloud with the most proven security, and the broadest and deepest functionality – including a wide range of analytics and machine learning technologies – FICO will be able to accelerate its pace of innovation to help its customers get more insights from their data and turn that knowledge into action at scale and in real-time.”
FICO joins a growing list of innovative financial institutions running on AWS, including Capital One, NASDAQ, Liberty Mutual Insurance, Thomson Reuters, Pacific Life Insurance, DBS Bank, and FINRA.