Analytics software firm FICO has teamed up with risk analytics consultant 4most Europe to help financial organisation to comply with banking regulations in Europe.

Under the terms of the partnership, 4most Europe will provide FICO Decision Central software for analytic model governance to customers in addition to offering consulting services.

FICO developed Decision Central frameworks in association with 4most to help lenders comply with the Capital Requirements Regulation (CRR), Internal Ratings-Based (IRB) Basel approach and the European’s Central Bank’s Target Review of Internal Models (TRIM).

FICO Decision Central is part of the integrated platform known as FICO Decision Management Suite, which has been designed to help build and deploy analytics-based decision management applications.

Using FICO Decision Central, financial organisation can observe and manage the evolution of every component that goes into making a decision.

4most partner Damien Burke said: “We have first-hand experience of regulatory projects where Decision Central would help define and deploy compliant processes more efficiently.

“The FICO software also makes ongoing compliance and interactions with auditors and regulators more effective, as all model governance information is centrally held and easily accessible.”

FICO general manager for EMEA Steve Hadaway said: “4most’s insight and experience have helped us tailor Decision Central to new regulatory demands, making it easier than ever for customers to deploy. Our software and embedded frameworks can dramatically reduce the time and effort required to become compliant and demonstrate compliance.”