Seoul-based Hyundai Card Company has implemented HNC Software's Falcon Fraud Manager solution across its credit card operations.
Falcon Fraud Manager is a neural network-based predictive software system that examines transaction, cardholder and merchant data to detect and mitigate fraud. The product currently protects 450 million payment card accounts worldwide.
Se-Hyun Kim, deputy general manager, credit management team, Hyundai Card, says: "After an extensive process of comparing software available, we chose Falcon because of its proven benefits and tremendous successes worldwide. We are significantly improving our risk management capabilities and protecting our customers and recovering much of our bank's losses from fraud."