FICO has acquired privately-held Infoglide. Terms of the deal were not disclosed.
Founded in 1996, Infoglide develops data management software that detects attempts to launder money and submit bogus insurance claims. It has clients in banking, insurance, government, retail and healthcare industries, including the U.S. Department of Homeland Security, JPMorgan Chase and the U.S. Transportation Security Administration.
Infoglide was backed by $26 million in venture capital from investors including Sanchez Capital Partners, CCP Equity Partners and Stone Point Capital. The company, which has 22 employees, will continue to operate in Austin as a division of Fair Isaac Corp.
The firms have collaborated on solutions in the past, creating a high degree of integration between the two firms’ solutions.
Officials said the two companies have been partners and Infoglide tools are already integrated with FICO’s fraud management applications.
“Infoglide’s technology is the best at finding suspicious information in an insurance claim or financial transaction, then making links with other transactions to expose otherwise invisible patterns,” Will Lansing, CEO of FICO, said in a written statement. “With this acquisition we gain a strong foothold in the government sector for our integrated fraud management solutions, and can extend our advanced analytics into the areas of network risk assessment, security and compliance.”
Core to Infoglide’s solutions is data matching technology that eliminates the time-consuming data normalization phase typical of matching items from multiple large data sets. These capabilities are particularly valuable when attempting to link parties across multiple data sets in support of fraud investigations.
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