Alexander Graff, SVP and managing director at FICO, and Charlotte Ritonya, VP of risk and fraud issuing at Fiserv, join theCUBE’s Rob Strechay at FICO World to unpack the companies’ partnership in fighting fraud with precision. The discussion focuses on how joint innovation is shaping next-generation solutions for risk and fraud prevention.
Graff and Ritonya spotlight real-world impacts, such as a 10% drop in fraud basis points, while explaining how AI and advanced analytics help approve more legitimate transactions without compromising security. Their insights reveal the evolving role of collaborative technology in improving financial performance and customer trust.
The discussion also highlights how Fiserv is leveraging FICO’s tools to reduce fraud losses and elevate customer experience. That approach offers a data-driven roadmap for smarter decisions across the financial ecosystem.
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Alexander Graff, FICO & Charlotte Ritonya, Fiserv
Alexander Graff, SVP and managing director at FICO, and Charlotte Ritonya, VP of risk and fraud issuing at Fiserv, join theCUBE’s Rob Strechay at FICO World to unpack the companies’ partnership in fighting fraud with precision. The discussion focuses on how joint innovation is shaping next-generation solutions for risk and fraud prevention.
Graff and Ritonya spotlight real-world impacts, such as a 10% drop in fraud basis points, while explaining how AI and advanced analytics help approve more legitimate transactions without compromising security. Their insights reveal the evolving role of collaborative technology in improving financial performance and customer trust.
The discussion also highlights how Fiserv is leveraging FICO’s tools to reduce fraud losses and elevate customer experience. That approach offers a data-driven roadmap for smarter decisions across the financial ecosystem.
Alexander Graff, SVP and managing director at FICO, and Charlotte Ritonya, VP of risk and fraud issuing at Fiserv, join theCUBE’s Rob Strechay at FICO World to unpack the companies’ partnership in fighting fraud with precision. The discussion focuses on how joint innovation is shaping next-generation solutions for risk and fraud prevention.
Graff and Ritonya spotlight real-world impacts, such as a 10% drop in fraud basis points, while explaining how AI and advanced analytics help approve more legitimate transactions without compromising security. Their...Read more
exploreKeep Exploring
What tools and strategies does Fiserv use to combat fraud and ensure low fraud basis points in their services?add
What role does FICO play in the FACT advanced scoring system?add
What new solution are we planning to launch later this year for fraud alerting?add
>> Hello and welcome back to FICO World 2025. We're here in Hollywood, Florida live, really diving into the intelligence revolution and understanding how AI and data is really coming to play and how FICO is really making it easy for customers to really take advantage of that. We're going to continue this wonderful discussion. I'm so excited to have more customers on the panel here and partners on the panel here to really dive into how this all works. Joining me is Alex Graff, who's the VP of Global Partners and Alliances for FICO. Welcome on board.
Alexander Graff
>> My pleasure.
Rob Strechay
>> And Charlotte Ritona?
Charlotte Ritonya
>> Ritonya.
Rob Strechay
>> Ritonya?
Charlotte Ritonya
>> Yes.
Rob Strechay
>> Ritonya, who's the VP of Risk and Fraud Issuing for Fiserv. Welcome to the show.
Charlotte Ritonya
>> Thank you.
Rob Strechay
>> I think a lot of this really is just so exciting to me because when you start to think about, everybody gets to kind of peel back the onion on what they've seen around the financial industry, and I think one of the things that there's been a lot of things in the news is around fraud and fraud management and things of that nature. Charlotte, what is really the business driver for developing a fraud management solution and really what pain points is FICO really helping you address and how is that really helping you in Fiserv?
Charlotte Ritonya
>> Yeah, I think first a little bit about Fiserv. Fiserv moves money for thousands of issuers, thousands of banks and millions of merchants globally. We touch nearly every US household, and so it's important that we have the right partners and solutions in play. We support financial institutions, card issuers if they have 30 million cards or 30 cards. And so it's important that we have the right tools or the right managed services. And so we do that at Fiserv, we like to meet them where they are. In the world of fraud, it's important that we have low fraud basis points. For every dollar sale, we have to have low fraud basis points and low friction at the point of sale. And so it's important that we use the right tool sets. And we use a lot of tools, FICO tools included, and we control levers based on the financial institution's risk tolerance level, so we meet them where they want to be met. But I always say a fool with a tool is still a fool. And so I'm very proud of our team, they're not fools. And using FICO systems, we're happy to please our clients at half the fraud basis points in the industry.
Rob Strechay
>> And I've heard about FACT, FACT advanced scoring system. What role does FICO play in that?
Charlotte Ritonya
>> Sure. As we provide the fraud managed services, kind of an extension to the financial institution, we go to market with kind of a good, better, best. And in the best model we use FICO adaptive analytics, global intelligent profiling and fraud predictor. Those three adaptive analytics really look at refreshing the model daily, pretty much, learning new fraud patterns and keeping up to date, rather than waiting for an annual upgrade. Global intelligent profiling is ATM monitoring, and then fraud predictor helps us understand the propensity of fraud at the merchant. And so when we bundle all three of those together, it's pretty powerful and we see great results at our highest level service.
Alexander Graff
>> And this is very important because when we talk about frauds, we are talking of course about preventing fraud, but keeping the level of authorization as higher as possible because this is very important. You can keep your customer loyal because you can keep approving everything, but dropping the fraud levels.
Rob Strechay
>> Right, and it seems like it's a moving target as well because fraud, like you said, that velocity has to be a big piece of it is that as money is moving through the system, you'd think it would be easier to say than that, but it's very fast, tons of transactions that you have to look at. It would seem like, again, FICO's been in that world as well for quite a long time. Graff, FICO and Fiserv have been partnered for many years. What makes this such a strong partnership? What is really at the root of that?
Alexander Graff
>> Well, I think that we have been partners for 25 plus years, so a long, long time. And first of all, two very strong brands. Two very strong brands coming together to provide the best customer experience possible to the society. This is what we always want to do. This partnership is so strong because we are committed to provide a very high service level.
Rob Strechay
>> And Charlotte, I think just building off of that, because it was a lot of talk from the main stage earlier about the partnership and with customers and FICO, how has that really helped you keep your velocity, I guess you could say?
Charlotte Ritonya
>> Yeah, it was talked about on the main stage this morning, John Gibbons mentioned use of FICO systems and the fraud reduction that we enjoy from that. We have seen quite a bit of great experiences in our highest level of service, but John shared an example. Most recently we had a client convert to us, a Kentucky-based client, $3 billion in assets. And their fraud basis points and friction at the point of sale were already very low, but there's always more meat on the bone. And we went after it with the highest level with FICO's adaptive analytics, and I'm happy to say we reduced it by 10% more. So we just continue to try to fine tune and stay ahead of all the evolving trends and delight the clients.
Alexander Graff
>> Absolutely. And the time to market is very important when we are talking about our industry and we are always committed to bring the best solution together. This industry is an industry that has passed for a lot of transformation, the kind of transactions are changing. In the past, everything was a credit card. Now you have multiple different ways to transact and we always need to bring innovation. And when we have two companies that are committed to innovate together, this is the best of the world.
Rob Strechay
>> It would seem that is really the KPIs that your clients are looking to. Again, fraud loss reduction by 10% to 15%. Looking at the fact that false declines and how do you decrease those false declines by an average of 20% and things of that nature. What do those numbers really mean to you and to your clients when you're able to bring a solution that helps them with that?
Charlotte Ritonya
>> I mean, it makes their consumers stay with them, keeps them top of wallet. We all want to not have that embarrassing moment at the point of sale with a false decline. And those numbers that you quoted came from when we had released that highest level of service with the adaptive scoring and GIP and fraud predictor. And then even more recently, the Kentucky example that I gave for that bank, we just continue to delight.
Rob Strechay
>> So it's not only just about the basis points and being more economical to your customers, it is about what is the result? Because for them it's churn.
Charlotte Ritonya
>> Yes.
Rob Strechay
>> They're trying to eliminate churn.
Charlotte Ritonya
>> Yeah, and anymore, everything has to be fast and accurate.
Alexander Graff
>> At the end of the day, this is exactly why it's all about customer experience. At the end of the day, the solution that we provide together is about provide the best customer experience, and this is why we use artificial intelligence in our solution for almost three decades also, because we have our models learning with every single transaction, what allows us to react faster to any kind of condition that we've seen in the market.
Charlotte Ritonya
>> And I would add we do this, we are talking a lot today about our fraud managed service, that's in one pocket of Fiserv. We're a global company, you're a global company, we partner in every region of the world.
Alexander Graff
>> Yes.
Charlotte Ritonya
>> And so not just in fraud and credit risk and in other areas.
Alexander Graff
>> Absolutely.
Charlotte Ritonya
>> Yeah, it's been good.
Rob Strechay
>> Yeah, it would seem that the partnerships that FICO has go pretty broad, but with this partnership, what do you see as the next step for this partnership and where you think it might go?
Alexander Graff
>> Well, our next step is exactly to keep evolving our services together to provide better and better services always to the society. Everyone is demanding more and more. I believe that we had the COVID event that made every consumer transform their behavior and they became actually more demanding, and it make us as well to bring a different level of services to them. So our partnership is evolving to a whole new set of solutions that together, we will keep bringing a better customer experience.
Rob Strechay
>> Yeah. I'm interested in this because I think everybody kind of looks at the pandemic as kind of a line in the sand. Has the Fiserv business transformed even in that short time? It's been five years now. How has that transformed, especially in this section of the company?
Charlotte Ritonya
>> I mean, it's transformed. During the pandemic, everybody went online. We had to go online for everything from streaming movies to shopping, grocery shopping, getting it delivered. There were a lot of digital newbies during that time, and so people that maybe were, this word always escapes me, susceptible to scams. So it's just technology evolves, human pattern evolves and-
Alexander Graff
>> The kind of fraud changed.
Charlotte Ritonya
>> Yes, the kind of fraud changed, more debit cards used online than ever.
Alexander Graff
>> Absolutely.
Charlotte Ritonya
>> It just kind of changes. But I think in the fraud space, we're used to that. It's always evolving and we have to stay ahead of it, and so it's just one more way to change.
Rob Strechay
>> Yeah, it seems like the rate of change is just exponential, especially in this because you're talking about people's money at the end of the day.
Charlotte Ritonya
>> Yes, it's emotional.
Rob Strechay
>> And it's very emotional like that so the churn aspect can be just massive from that. It would seem that also you're helping by, again, by making it faster in turning models back and being the known goodness of those models, if that's a word and the fact that you know where the lineage has come from. We were talking, I didn't even realize that Blockchain was being used to actually know that stuff.
Alexander Graff
>> Absolutely.
Rob Strechay
>> Is that what a lot of these partnerships and what you're helping to bring to the table?
Alexander Graff
>> For sure. We work always shoulder by shoulder to understand what their customers are demanding exactly to work with them and to propose things even before it becomes a true need. Because with that, we can always have the customer loyal to them, loyal to their customers, and provide the service level that they expect.
Rob Strechay
>> Yeah, that to me makes total sense. Charlotte, are there any new developments or deployment of FICO technologies that you foresee or that are going on?
Charlotte Ritonya
>> Yeah, we're very excited. Later this year we're going to be launching FICO CCS for fraud alerting. We have a legacy solution and it was time to kind of think about something different, modernize and be more efficient in our fraud alerting because it's scoring, decisioning, case management, fraud alerting. We were just a little late to get to the FICO solution for that, but we are this fall, so I'm very excited about that.
Alexander Graff
>> And the CCS is our communication tool that communicates with customers in a smart way, exactly because we use our AI technology behind it. So everything at the end of the day is to improve the service level that we offer to the society.
Rob Strechay
>> I mean, to me, and I was saying this earlier, I've known FICO because of the AI and ML, what I call traditional AI and ML. It would seem that you talked about how your solution has FICO in it and it's using other things as well. And that to me seems like the easy way that you have to go about this because fraud is so many different places within that. Is that where you see as well as you go forward, that, "Hey, the fact that I have a strong partner who can bring me this information, not just data, and it's in a way that's consumable, I can then go and apply it a lot faster?" Is that a big piece of what you're doing as well?
Charlotte Ritonya
>> Yeah, absolutely. I think just it is a longstanding partnership. I'll correct you, it's actually the early '90s that we first, I didn't do it.
Alexander Graff
>> So, 30 plus.
Charlotte Ritonya
>> I didn't do it, but Falcon launched Triad. And so I just think that there has to be so many levels to the fraud. There's so many points in the life cycle of a transaction or a consumer that we have to make sure we have all the right tools, and so FICO is definitely a trusted partner in that space. It's kind of table stakes for FICO scoring and for other capabilities.
Alexander Graff
>> And you asked about the next. I mean, I will say that we have a lot to come when we are talking about our partnership. We are developing multiple initiatives so a lot of innovation definitely will come soon.
Rob Strechay
>> Yeah. And it would seem that also Fiserv's partners can actually then leverage the FICO tools through Fiserv as part of that as well, going forward.
Alexander Graff
>> For sure. This is the ecosystem concept that we always work, so Fiserv has, as you said, multiple customers, multiple partners, and we are here to support them to provide the services to all of them.
Rob Strechay
>> Oh, that's awesome. Well, Graff, Charlotte, this has been a lot of fun. Like I said, I love to learn about what's going on in this industry and how partners and customers are applying this technology and this has been great. Thanks for coming on board.
Charlotte Ritonya
>> Thank you.
Alexander Graff
>> Thank you. Thank you, Charlotte.
Charlotte Ritonya
>> Thank you.
Rob Strechay
>> And thank you for watching this episode from FICO World 2025. Stay tuned, we got more coming this afternoon. We'll be right back.
Rob Strechay