24 February 2018
visit www.ebaday.com

Brazil's Unibanco renews licence for Fair Isaac fraud detection system

14 December 2007  |  3048 views  |  0 Source: Fair Isaac

Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced that União de Bancos Brasileiros, S.A. (Unibanco) has signed a new, five-year agreement to use Fair Isaac's Falcon Fraud Manager as its exclusive fraud detection solution.

Unibanco will use the company's industry-leading fraud management technology to protect its retail credit, debit and private-label card portfolios.

Unibanco, Brazil's third-largest private bank with nearly 20 million customers, has successfully used Falcon Fraud Manager since 1998. The system currently protects more than one billion payment cards worldwide, detecting a wide range of fraud with the highest level of accuracy using sophisticated neural network models and other predictive technologies.

"The highly competitive banking environment in Brazil required Unibanco to implement enhanced fraud management capabilities that allow future agility in this rapidly growing consumer credit market," said Jorge Luiz Viegas Ramalho, TI-Operations Director at Unibanco. "Fair Isaac has been enormously skilled in meeting our specific business needs and providing us with powerful decision management solutions that reduce our overall risk exposure. Using Fair Isaac's enhanced Falcon solution will enable us to mitigate fraud risk across all of our card products and channels and react to emerging fraud trends more quickly without impacting our customer relationships."

With a population of 183.5 million, Brazil is the largest consumer credit market in Latin America. Demand for consumer credit has expanded by 115 percent during the period 2003-2006, with credit outstanding estimated to be nearly $110 million at the end of the 2006, according to Euromonitor.

"This new agreement for our Falcon solution is a strong endorsement for the tremendous success of our partnership with Unibanco," said Helcio Beninatto, managing director of Fair Isaac's Latin America operations. "Through the years, Fair Isaac solutions have delivered significant performance results for the bank. We are gratified that our expertise in analytics and financial services has helped one of Brazil's most important financial institutions become a true leader in the use of critical enterprise decision management solutions in Latin America."

Fair Isaac and Unibanco have collaborated closely for many years to help the bank effectively manage risk, control fraud and increase operational efficiencies. In addition to relying on Fair Isaac's Falcon Fraud Manager for fraud protection, Unibanco has been utilizing a customer-centric, enterprise-wide Fair Isaac solution to achieve a 60 percent reduction in loss provisioning during a period of accelerated portfolio growth. This solution integrates Fair Isaac's Capstone Decision Manager software for account origination, Customer Management TRIAD adaptive control system to manage existing customers and Fair Isaac predictive analytics.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit http://info.nice.comVisit www.vasco.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11852 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10338 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8607 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8128 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7802 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job