Fair Isaac adds Adeptra technology to fraud detection products

Source: Fair Isaac Corporation

Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, and Adeptra Inc., the top global provider of automated contact and resolution services for consumer credit and risk management, today announced at Fair Isaac's 2008 European InterACT customer conference a strategic partnership to integrate Adeptra's auto-resolution technology with Fair Isaac's industry-leading decision management solutions for fraud detection and collections.

The combined technology enables financial services clients to fully automate and streamline their customer contact capabilities, from reaching and engaging the individual customer to resolving transactions via multiple contact channels including voice, email, SMS (Short Message Service), fax, and pagers. By better managing important interactions with customers, lenders can now catch more fraud faster and improve collection service levels from over-limit to recovery, while significantly reducing costs associated with their customer contact center operations.

As an integral part of Fair Isaac's Falcon Fraud Manager for payment card fraud detection, Adeptra's auto-resolution services will allow card issuers to automatically contact cardholders regarding suspicious transactions identified by the system's proven neural network models and other predictive technologies. If the transaction is genuine, the integrated solution will capture the cardholder's verification; if it is not, the issuer can take immediate action to stop the fraudulent transaction and prevent further losses. Transaction results are fed back into the solution to dynamically update strategies.

"The most successful lenders are challenging fraud risk management and collection conventions, and leveraging analytics and interactive automation technology more than ever before," said David Lightfoot, vice president, Product Management, at Fair Isaac. "Adeptra's market-leading services complement our fraud and collections offerings. They offer our clients an efficient and effective way of managing time-sensitive and vital interactions with their customers while benefiting from extensive process and operational cost savings."

Deployed in combination with Fair Isaac's Debt Manager™ workflow solution for collections and recovery, the solution eliminates capacity problems and allows issuers to contact customers sooner in the debt cycle, reducing the cost of provisioning and increasing customer satisfaction and payments collected. Fair Isaac analytics drive the contact strategies that find the best channel and time for each debtor, and rules-based technology helps manage the contact. For example, the solution can send an automatic payment reminder to a good customer, take payments via the phone, or put high-risk customers in contact with a live agent.

"Adeptra is well-known in the financial services industry for helping companies use technology applications to realize greater return on investment, increase revenues, and enhance productivity for their operations," said Lou Venezia, CEO at Adeptra. "Our partnership with Fair Isaac is a win for both companies and provides our shared clients with an immediate advantage - best-in-class technologies seamlessly integrated to help them take their fraud and collections operations to the next level."

The combined service from Fair Isaac and Adeptra is available immediately to Fair Isaac customers as part of Fair Isaac's fraud and collection solutions. The partnership takes advantage of standard application programming interfaces between the companies' data systems and applications for fast and easy implementation.

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