The award acknowledges Dock’s efforts to combat fraud using FICO’s Falcon Fraud Manager and FICO Customer Communication Services (CCS). The solution has so far helped the Brazilian fintech analyse 5 billion transactions a year.
Dock is using FICO technology to protect 250 companies against fraud. Dock’s clients include banks, fintechs and retailers, seeking to intercept fraudulent transactions and protect their operations while improving their user experience.
Armando Junior, director of risk at Dock, commented: “Our customers are seeing a significant improvement in cashflow due to reduced operating costs when transactions are denied due to fraud.
“For every Brazilian Real spent on FICO CCS, our customers save approximately 39 BRL in fraud and authorise 167 BRL in legitimate transactions,” Junior added.
During the Covid-19 pandemic, the financial services market in Latin America grew significantly. More than 100 million people in the region started using digital banking, which made it a market with high growth potential.
The FICO award comes after last year Dock managed to raise $110m to fund its international expansion plans and accelerate its product development roadmap.
“Dock’s innovative pay-as-you-go fraud prevention solution, built on FICO technologies, is transforming the way lenders approach fraud detection,” said Nikhil Behl, chief marketing officer at FICO. “By combining advanced analytics with real-time communication, lenders can detect and prevent fraud quickly and effectively while providing a seamless customer experience.”