The data localisation mandates around India’s Digital Personal Data Protection (DPDP) Act could limit the ability of financial institutions to build global and more effective fraud detection and risk models, said Scott Zoldi, chief analytics officer at US-based data firm Fico.
Fico (Fair Isaac Corporation), a US-listed company with a $44 billion market cap, is pitching to Indian banks its advanced analytics models aimed at solving payment fraud, a major area of concern in India, Zoldi said.
The company reported revenues of $536.4 million for the June quarter of 2025 compared to $447.8 million in that quarter the year prior — an increase of 20%.
The firm, known for its credit scoring models for homebuyers in the US, offers analytics solutions for all forms of customer underwriting by lenders. The firm deploys its traditional fraud detection models in India, but is now pitching its new payment fraud detection to banks.
“We have built new fraud detection models which have gone through proof-of-concept in multiple banks across the world,” he said.
Fico has sensed the emergence of a fresh opportunity to pitch its fraud detection systems given the massive rise in digitisation and the emergence of new avenues of fraud in India. Zoldi pointed out that banks need new models to be able to fight electronic payment frauds.
In addition to banks, Zoldi added that Fico is also looking to work with Indian payment aggregators.
Talking about the availability of data, Zoldi said that given that the company is part of a global consortium of banks, they have access to data from around the world which can help build and strengthen these models for India.
“We can always use that global model within India. And we can also build an Indian-specific model. We have more than enough data today,” explained Zoldi.
Speaking about the revenue opportunity in India, Zoldi said that while their solutions are expensive, banks are ready to pay given the financial impact of a major fraud.
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Fico (Fair Isaac Corporation), a US-listed company with a $44 billion market cap, is pitching to Indian banks its advanced analytics models aimed at solving payment fraud, a major area of concern in India, Zoldi said.
The company reported revenues of $536.4 million for the June quarter of 2025 compared to $447.8 million in that quarter the year prior — an increase of 20%.
The firm, known for its credit scoring models for homebuyers in the US, offers analytics solutions for all forms of customer underwriting by lenders. The firm deploys its traditional fraud detection models in India, but is now pitching its new payment fraud detection to banks.
“We have built new fraud detection models which have gone through proof-of-concept in multiple banks across the world,” he said.
Fico has sensed the emergence of a fresh opportunity to pitch its fraud detection systems given the massive rise in digitisation and the emergence of new avenues of fraud in India. Zoldi pointed out that banks need new models to be able to fight electronic payment frauds.
In addition to banks, Zoldi added that Fico is also looking to work with Indian payment aggregators.
Talking about the availability of data, Zoldi said that given that the company is part of a global consortium of banks, they have access to data from around the world which can help build and strengthen these models for India.
“We can always use that global model within India. And we can also build an Indian-specific model. We have more than enough data today,” explained Zoldi.
Speaking about the revenue opportunity in India, Zoldi said that while their solutions are expensive, banks are ready to pay given the financial impact of a major fraud.
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