Fair Isaac launches fraud detection system
May 6, 2005
Falcon One targets all types of fraud and identity theft
Fair Isaac Corp. has released new software for combating fraud and identity theft, dubbed the Falcon One system.
The Falcon One system helps financial institutions address every type of customer and account fraud within an organization through a configurable set of detection, case management and analytic capabilities. A unified, flexible infrastructure enables multiple fraud solutions across different channels and lines of business to work together, sharing data and system services to deliver unprecedented levels of fraud protection.
Credit issuers can enhance existing fraud technology investments or add new services to detect and stop new types of fraud faster, while minimizing the impact on customers.
"With the complexity of the current business environment and the growing sophistication of fraud perpetrators, gaining control of fraud losses requires an enterprise-wide approach," said Ted Crooks, vice president of Fraud Protection Solutions at Fair Isaac. "Incorporating the Fair Isaac fraud technology that protects two-thirds of the world's credit cards today, the Falcon One system provides financial services providers with essential connections and flexibility to reduce the impact of fraud at every point of customer contact."
The Falcon One system leverages Fair Isaac's Falcon technology, which has been used to fight fraud for 15 years and includes the company's patented neural network models and profiling technology. Fair Isaac currently offers several key products within the Falcon One infrastructure, including Falcon Fraud Manager for credit card and debit card transaction fraud, and Falcon ID solution for identity fraud protection.
The products can be deployed individually to address a particular fraud type, or in combination to achieve an additional lift in fraud detection power.
Fair Isaac provides analytics and decision technology.
Copyright 2005 Inman News