FICO Updates Analytic Model Management Tool

Workflow management capabilities provide an audit trail for the development, evolution and management of models, while assisting with compliance and risk management concerbs.

"Model Central is critical for our financial services clients, who must monitor the performance and stability of their models, detect when models have degraded, and follow an approved process for model development and monitoring," says David Ross, senior director of product management at FICO. "With Model Central 5.0, we've extended model governance, and improved workflow management to ensure our clients meet stringent compliance requirements, so they can not only make key decisions, but also avoid hundreds of millions of dollars in potential fines for non-compliance."