PULSE and FICO Deliver Debit Fraud Service Innovation to Financial Institutions
In addition to a real-time scoring deployment, PULSE and FICO built new capabilities that empowered the debit network to offer issuers greater flexibility in managing their unique portfolios and requirements through improved case-management functionality.
The FICO Falcon Platform, the world's most intelligent fraud platform, improves the consumer experience by detecting potential fraud while remaining invisible during legitimate transactions. PULSE considered many vendors, but ultimately selected FICO to provide the foundation of its DebitProtect® fraud-detection service.
"In this era of digital commerce, criminals constantly work to beat the system, so the system has to work equally hard to keep up," said
The new case management functionality assists issuers in reducing costs by enabling them to more accurately manage groups of compromised cards, as well as allowing or restricting transactions for individual or multiple accounts. This improves the customer experience by reducing disruption of legitimate transactions and cardholders.
The increased capacity and flexibility provided by FICO gives PULSE the ability to implement more custom fraud-blocking rules for its issuers, and to implement the rules faster than was previously possible.
"We're thrilled PULSE selected FICO and our team to build and deliver new real-time fraud-detection services collaboratively," said TJ Horan, vice president of product management at FICO. "Together, our experts created new tools that issuers can use to mitigate risk. We know that as electronic payments evolve, security risks do too. That's why we work with innovators like PULSE, and it's why we designed the Falcon Platform to be flexible enough to adapt to the challenges our clients face."
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Greg Jawski for FICO, Email: firstname.lastname@example.org, Phone: +1 212-601-8248, OR Anne Uwabor for PULSE, Email: email@example.com, Phone: +1 832-214-0234