FICO Falcon Fraud Manager 6.3 Prevents Electronic Payments Fraud on Demand Deposit/Current Accounts
Poster: SySAdmin
Posted on October 31, 2012 at 9:07:01 AM
FICO Falcon Fraud Manager 6.3 Prevents Electronic Payments Fraud on Demand Deposit/Current Accounts
World's leading payment fraud solution extends proven analytics-driven fraud support
MINNEAPOLIS, Oct. 31, 2012 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of predictive analytics and decision management technology, today announced the availability of the latest version of the industry-leading payment fraud solution, FICO® Falcon® Fraud Manager 6.3. The new version protects consumers' card and demand deposit (DDA) /current accounts from various forms of payment fraud, including e-payments fraud. Already the leader in card fraud protection, FICO Falcon Fraud Manager now applies FICO's dynamic profiling capability, neural network analytics and self-calibrating models to protecting individuals' DDA/current accounts - all while helping banks deliver a positive customer experience.
(Logo: http://photos.prnewswire.com/prnh/20111010/CG83314LOGO )
The proliferation of electronic payments and mobile banking poses several challenges to financial institutions, including managing fraud and reputational risk, retaining operational efficiency and preserving customer experience. Falcon 6.3 enables financial institutions to leverage self-learning behavioral analytics to detect and prevent electronic payment fraud in real time. By taking advantage of FICO Falcon Fraud Manager's advanced behavioral analytics, card issuers, processors and retail banks can improve the customer experience and operational efficiency by accurately and efficiently detecting suspicious out-of-pattern payments as well as automating real-time decisions on genuine payments. Financial institutions can also meet regulatory requirements by integrating sophisticated behavioral analytics for remote banking as well as leveraging a single transaction monitoring, investigation and decision-enabling solution within their enterprise fraud defense framework.
"Launched 20 years ago, FICO Falcon Fraud Manager continues to lead the market as the best-in-class solution for detecting and preventing payment fraud across evolving and changing channels," said Doug Clare, vice president of product management at FICO. "As financial institutions offer their customers new online banking services, Falcon Fraud Manager will be on guard for fraudulent transactions, helping the banks provide greater safety and a hassle-free customer experience."
"Internet and mobile banking provide customers the ability to bank anywhere and anytime, as well as an opportunity for financial institutions to reduce operating costs," said CEB TowerGroup research director Jason Malo. "As customers bank across many different channels, it is essential for financial institutions to assess and confront account risk based on the transaction request and method by which the transaction is initiated."
FICO® Falcon® Fraud Manager is the most accurate and comprehensive solution for detecting payment fraud, reducing losses by up to 50 percent. Protecting more than 2.5 billion payment accounts worldwide, Falcon Fraud Manager detects fraud while minimizing both operational costs as well as adverse customer impacts.
About FICO
FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the FICO® Score -- the standard measure of consumer credit risk in the United States -- along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through http://www.myFICO.com. Learn more at http://www.fico.com. FICO: Make every decision count((TM)).
For FICO news and media resources, visit http://www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2011 and its last quarterly report on Form 10-Q for the period ended June 30, 2012. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO, Falcon and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
SOURCE FICO
Photo:http://photos.prnewswire.com/prnh/20111010/CG83314LOGO
http://photoarchive.ap.org/
FICO
CONTACT: Media: Elisabeth Hershman for FICO, +1-212-289-6734, ehershman@iqprinc.com or Investors: Steven Weber, +1-800-213-5542, investor@fico.com
Web Site: http://www.fico.com
World's leading payment fraud solution extends proven analytics-driven fraud support
MINNEAPOLIS, Oct. 31, 2012 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of predictive analytics and decision management technology, today announced the availability of the latest version of the industry-leading payment fraud solution, FICO® Falcon® Fraud Manager 6.3. The new version protects consumers' card and demand deposit (DDA) /current accounts from various forms of payment fraud, including e-payments fraud. Already the leader in card fraud protection, FICO Falcon Fraud Manager now applies FICO's dynamic profiling capability, neural network analytics and self-calibrating models to protecting individuals' DDA/current accounts - all while helping banks deliver a positive customer experience.
(Logo: http://photos.prnewswire.com/prnh/20111010/CG83314LOGO )
The proliferation of electronic payments and mobile banking poses several challenges to financial institutions, including managing fraud and reputational risk, retaining operational efficiency and preserving customer experience. Falcon 6.3 enables financial institutions to leverage self-learning behavioral analytics to detect and prevent electronic payment fraud in real time. By taking advantage of FICO Falcon Fraud Manager's advanced behavioral analytics, card issuers, processors and retail banks can improve the customer experience and operational efficiency by accurately and efficiently detecting suspicious out-of-pattern payments as well as automating real-time decisions on genuine payments. Financial institutions can also meet regulatory requirements by integrating sophisticated behavioral analytics for remote banking as well as leveraging a single transaction monitoring, investigation and decision-enabling solution within their enterprise fraud defense framework.
"Launched 20 years ago, FICO Falcon Fraud Manager continues to lead the market as the best-in-class solution for detecting and preventing payment fraud across evolving and changing channels," said Doug Clare, vice president of product management at FICO. "As financial institutions offer their customers new online banking services, Falcon Fraud Manager will be on guard for fraudulent transactions, helping the banks provide greater safety and a hassle-free customer experience."
"Internet and mobile banking provide customers the ability to bank anywhere and anytime, as well as an opportunity for financial institutions to reduce operating costs," said CEB TowerGroup research director Jason Malo. "As customers bank across many different channels, it is essential for financial institutions to assess and confront account risk based on the transaction request and method by which the transaction is initiated."
FICO® Falcon® Fraud Manager is the most accurate and comprehensive solution for detecting payment fraud, reducing losses by up to 50 percent. Protecting more than 2.5 billion payment accounts worldwide, Falcon Fraud Manager detects fraud while minimizing both operational costs as well as adverse customer impacts.
About FICO
FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the FICO® Score -- the standard measure of consumer credit risk in the United States -- along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through http://www.myFICO.com. Learn more at http://www.fico.com. FICO: Make every decision count((TM)).
For FICO news and media resources, visit http://www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2011 and its last quarterly report on Form 10-Q for the period ended June 30, 2012. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO, Falcon and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
SOURCE FICO
Photo:http://photos.prnewswire.com/prnh/20111010/CG83314LOGO
http://photoarchive.ap.org/
FICO
CONTACT: Media: Elisabeth Hershman for FICO, +1-212-289-6734, ehershman@iqprinc.com or Investors: Steven Weber, +1-800-213-5542, investor@fico.com
Web Site: http://www.fico.com