New FICO Fraud Solution Can Identify the Source of Compromised Cards Faster
Highlights:
- FICO® Card Compromise Manager is an anti-fraud solution that proactively detects and prioritizes compromised merchants and data breaches involving card data.
- Card Compromise Manager detects card present, card not present and ATM fraud
- Card Compromise Manager is integrated with the FICO® Falcon® Platform, ensuring that issuers can get started faster and share data between the two solutions
- The FICO Falcon Platform protects more than 2.6 billion payment cards worldwide.
More information: http://www.fico.com/en/products/fico-card-compromise-manager
Card Compromise Manager uses an organization's FICO Falcon data and applies advanced analytics and graph analytics to detect merchant compromises faster and more accurately than the manual processes typically employed. It can analyse an issuer's entire card portfolio automatically, using unsupervised analytics and adaptive behavioral analysis to assess all transactions for potential merchant compromise, and empower an issuer to take the action needed.
"Payment card fraud continues to rise as criminals adopt new, more sophisticated technology," said TJ Horan, vice president of product management for FICO's fraud solutions. "Yet many card issuers are still using spreadsheets to determine the highest priorities for investigation. With Card Compromise Manager, issuers can apply analytics and automation to reduce the impact of fraud on their customers and their bottom line. The integration with Falcon creates the ideal platform for detecting any kind of fraud risk, faster."
Globally, the FICO® Falcon® Platform is the leading payments fraud management solution, protecting more than 2.6 billion payment cards. With the platform, organizations can cost-effectively reduce fraud losses, protect brand reputation, gain efficiencies and improve the customer experience across multiple products, channels and lifecycle stages.
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SOURCE FICO
Media: Greg Jawski for FICO, Porter Novelli, +1 212-601-8248, greg.jawski@porternovelli.com or Investors/Analysts: Steven Weber, FICO, +1 800-213-5542, investor@fico.com