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New FICO Fraud Solution Can Identify the Source of Compromised Cards Faster PDF Print E-mail
Thursday, 15 June 2017
Silicon Valley analytics firm FICO today announced the availability of FICO® Card Compromise Manager, an anti-fraud solution that proactively detects and prioritises 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 minimise losses and customer impact. 

Card Compromise Manager uses an organisation’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 behavioural 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, organisations 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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