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New FICO Fraud Solution Can Identify the Source of Compromised Cards Faster

SAN JOSE, Calif., June 14, 2017 /PRNewswire/ --

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.

FICO Corporate logo.  (PRNewsFoto/FICO)

Silicon Valley analytics firm FICO today announced the availability of FICO® Card Compromise Manager, an anti-fraud solution that proactively detects and prioritizes compromised merchants and data breaches involving card data. A powerful companion to FICO® Falcon® Platform, Card Compromise Manager is capable of detecting card present, card not present and ATM fraud. It uses advanced analytics to provide a ranked list of potential compromises and recommended actions to minimize losses and customer impact.

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.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 170 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

For FICO news and media resources, visit www.fico.com/news.

FICO and Falcon are registered trademarks of Fair Isaac Corporation in the United States and in other countries.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-fico-fraud-solution-can-identify-the-source-of-compromised-cards-faster-300473063.html

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