Sramana Mitra: Let me now ask you given the trends of your industry, what are you seeing as open problems that need addressing where new entrepreneur can build stuff around? Scott Zoldi: I’ll phrase it in terms of problems and opportunities. From a problem perspective, there are a lot of regulations that are coming up
Scott Zoldi: These are technologies that are facilitated in Big Data because we have the ability, with the Storm-based architectures today, to build a model that reaches out to a NoSQL database, retrieves a data record associated with your previous transaction history. That data record is not of the transactions you did in the past
Scott Zoldi: We’ve developed, since the year 1992, technology that allows us to do that real time assessment of fraud risk using technologies like Storm, NOSql so that we can persist data in a summarised way and retrieve it very efficiently. That is one of the major areas for FICO and many of the products
Have you noticed that your credit card sometimes declines transactions or flags fraud alerts? This conversation will help you understand the backstory of that workflow and potentially trigger other ideas in that domain. Sramana Mitra: Let’s start with introducing our audience to yourself as well as to FICO. Scott Zoldi: I’m the Chief Analyst Officer