FICO intros Card Compromise Manager antifraud solution
Silicon Valley analytics firm FICO has launched FICO Card Compromise Manager, an antifraud solution that detects and prioritizes compromised merchants and data breaches involving card data.
A companion to the FICO Falcon platform, Card Compromise Manager is capable of detecting card present, card not present and ATM fraud, according to a company press release.
The product uses advanced analytics to provide a ranked list of potential compromises and recommended actions to minimize losses and customer impact.
Card Compromise Manager uses an organization's FICO Falcon data and applies advanced analytics and graph analytics to detect merchant compromises.
The solution can analyze 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 T.J. Horan, vice president of product management for FICO 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."
The FICO Falcon protects more than 2.6 billion payment cards, the release said.