Source: Fair Isaac
Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced that European payment card processor SiNSYS has successfully implemented Fair Isaac's Falcon Fraud Manager to help payment card issuers protect their customers and their portfolios from fraudulent transactions.
The implementation follows SiNSYS' selection last year of proven Fair Isaac solutions for Enterprise Decision Management (EDM) to provide card issuers with enhanced fraud detection, credit risk management and account management decisioning capabilities. With a presence in Belgium, the Czech Republic, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia, Russia and Ukraine, SiNSYS currently has a portfolio of more than 21 million debit and credit cards that generate more than one billion transactions each year.
A leading Dutch card issuer is the first SiNSYS client to take advantage of Fair Isaac's fraud detection system, which currently protects 85 percent of the credit card transactions in the U.S. and 65 percent of credit card transactions worldwide.
"The integration of Fair Isaac's Falcon solution with our leading European card management systems offers our clients high-quality, secure and reliable account processing solutions for growing their businesses," said Nicola Cordone, Chief Executive Officer at SiNSYS. "Falcon Fraud Manager will provide issuers with the ability to improve their fraud detection capabilities while conveniently managing and processing every credit card account through one system."
To analyze payment card transactions for the most subtle signs of fraud, Falcon Fraud Manager combines sophisticated neural network models with patented account profiling technologies, case management, and flexible, user-definable rules. As a result, financial institutions can take immediate measures to stop fraudulent transactions. The solution's extensive rule writing capabilities give issuers the opportunity to create their own rules and customize the service to meet their unique business requirements.
"Working together, Fair Isaac and SiNSYS bring a unique kind of value to continental European issuers," said Doug Clare, vice president of processor relationships at Fair Isaac. "The combination of SiNSYS' strong local European presence and our global experience enables us to deliver powerful services based on the local needs of payment card issuers. These services help issuers improve bottom line results, enhance operations and achieve true competitive advantages in today's global marketplace."
Fair Isaac also is currently integrating its latest TRIAD adaptive control technology with SiNSYS' processing platform. This solution will help European card issuers more effectively manage risk, as well as design and execute more profitable account-level strategies in credit line management, authorizations, collections, reissue, marketing and pricing. Implementation is expected to be completed by October 2007.