Data analytics and decision management
technology provider FICO aims to wipe out 30% of credit card fraud
in Germany through recent contract signings of its Falcon Fraud
Manager solution.
As of autumn 2011, FICO expects to safeguard
8.8m German payment cards against attempted fraud. This figure is
predicted to rise further to 9.7m cards during spring 2012 when the
benefits FICO’s fraud prevention and detection are realised.
Go deeper with GlobalData
FICO also expects to protect a similar amount
of credit cards in Austria and Switzerland. As of autumn 2011, 1.2m
credit cards in Austria and 2m credit cards in Switzerland will be
free from fraudulent activity, predicts FICO.
Card issuers using FICO’s Falcon Fraud Manager
include Bayern Card-Services GmbH-S-Finanzgruppe, Degussa Bank
GmbH, Swisscard AECS AG und UBS Card Center AG.
“Within the last two years the number of
credit cards in Germany has significantly increased, and the
growing adoption of credit cards as a preferred payment vehicle has
attracted fraudsters,” said Phillip Sertel, FICO’s senior director
for DACH and Central and Eastern Europe.
“Banks are now facing the challenge of cutting
down fraud without jeopardising the trust in card payment. FICO
Falcon Fraud Manager is tailored exactly to meet these demands. The
solution enables card issuers to identify previously undetected
fraud patterns and at the same time keep an eye on the customer
relationship.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAround the world, 17 of the top 20 credit card
issuers rely on the FICO Falcon system to protect transactions for
more than 2bn active card accounts and about 65% of credit cards
worldwide are protected by the fraud detection system Falcon.
