Aug 27, 2013
Columbus/ London, August 19th 2013 - TSYS, a leading global payments solution provider, and FICO®, a leading analytics software company, have announced the integration of FICO’s latest version of its fraud management solution, FICO® Falcon® Fraud Manager 6 with TSYS’ licensed PRIME card and merchant management solution. This extension to TSYS’ global strategic alliance with FICO will enable TSYS to offer the Falcon Fraud Manager solution as a hosted service to its licensing clients around the globe.
TSYS and FICO’s integrated solution is being successfully utilised by EnterCard, a Nordic-based TSYS PRIME client since 1999. The integrated Falcon solution manages fraud by examining the behavioural aspects of cardholder activity, using advanced analytic models to provide real-time decisions. Combining best-in-class neural network models with merchant profiles, the solution even goes one step further detecting fraud by using adaptive models that change as global fraud patterns migrate.
Since the integration of the Falcon and PRIME solution, EnterCard bank experts are predicting a 40-percent decrease in fraud losses and risk exposure.
Jaffar Agha-Jaffar, group executive of PRIME Licensing, TSYS International, said, “We are committed to developing PRIME and maintaining its historic international footprint as a platform of innovation. Leveraging PRIME’s interoperability, and extending strategic value-added services that can be offered with best-of-breed partners such as FICO, is another area of PRIME’s roadmap where we are building momentum quickly and continuing to advance our commitment to people-centered payments.”
T.J. Horan, vice president of global fraud solutions for FICO, said “With fraud increasing and evolving around the globe, it is more important than ever for financial institutions to protect their customers’ exposure to fraud with advanced analytics. Falcon’s powerful analytics which protect more than 2.5 billion payment cards worldwide, offer TSYS PRIME customers the most effective anti-fraud solution available to card issuers around the world.”
Re-disseminated by The Asian Banker