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Real-time analysis of credit card transactions using patented cardholder profiling that condenses enormous amounts of historical transactional data to understand behavior patterns of each account and to recognize fraudulent transactions
1992
Neural network models that work like the human brain to understand complex non-linear interactions between variables (e.g., transaction amount, location) to become increasingly precise in identifying fraud
1993
Debit card profiling to expand real-time payment protection to debit card transactions
1995
Merchant profiling to spot fraudulent merchant activity
1996
1998 Check fraud modeling that expands payment fraud prevention from credit cards to personal checks
Falcon retail brings neural networking to retail card fraud
A pool of data from global issuers including transactions, fraud tags, and non-PII customer informationIncludes the transactional, account data and fraud data from 2.5 Billion + payment accounts
Background
Falcon Fraud Consortium: Protecting the World from Fraud
“Our objective is to provide unsurpassed fraud protection to our customers. Falcon Fraud Manager gave us the real-time detection and it enables us to manage fraud for all customers’ cards from a single platform.”
“FICO Falcon will help make our customers’ everyday lives easier by improving security and protecting them against fraud. This is a milestone for us, our partners and our customers.”
“EVERTEC is upgrading its fraud offering with strong tools to defend against payment card. Falcon Fraud Manager and FICO Card Alert Service are the most up-to-date solutions for protecting our clients and their customers from fraud losses.”
“We’re aiming for significantly increased purchase usage among our debit cardholders. Our success will depend largely on our ability to assure customers that they can use their cards, both online and in stores, to make purchases in an easy, safe, and secure manner. With FICO Falcon Fraud Manager, we can accomplish both and give our customers what other banks can’t.”
Emmanuel Narciso, Executive Vice President For Consumer Lending
Streaming Analytics and a Central Network Scoring Engine Bring Fraudulent Transactions to Light
Press Opinion
“To help stop the growth of sophisticated fraud, FICO, best known for providing credit scores, developed a system that combines payment authorization data from a global consortium of its banking clients.”
“Known as Falcon Fraud Manager, the system uses streaming analytics and a central network scoring engine to create a real-time transaction monitoring and decision platform.
“With the data and technology, FICO can develop fraud models to help its clients differentiate between legitimate and fraudulent transactions, enabling them to make real-time decisions to prevent loss.”