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FICO™ Falcon® Fraud Manager 6

fraud

Detect debit and credit card The reliable, responsive fraud detection system
fraud quickly and accurately
1. Auth Request
To stop fraud effectively in real time, Cardholder Authorization 4. Auth Recommendation
financial institutions worldwide trust 8. Payment and Profiles System
Nonmonetary
the scientifically based predictive Transactions 2. Auth 3. Expert
Request Rules
analytics of FICO™ Falcon® Fraud and Score Execute
Postings
Manager. Falcon Fraud Manager is the Expert
Neural
most accurate and comprehensive Network Engine
Authorization
Payment Response Module
solution for detecting payment System
card fraud, reducing losses by up 5. Transaction
and Score
to 50%. The latest release, version Nonmonetary
System 6. Case
6, introduces adaptive analytics, Creation Case Expert Rules
Rules Creation Module Base
enabling institutions to identify Execute
and respond to new threats with 7. Case Rules
Information Definition
unprecedented speed. It also
Case
expands patented fraud detection Management
Analyst Configuration
and profiling techniques with global Workstation
Database
Workstation
profiles targeting high-risk ATMs,
merchants, risky geo-graphic regions FICO Falcon Fraud Manager provides a single, comprehensive solution for accurate payment
and other criteria. card detection.

»» The reliable, responsive


F ICO Falcon Fraud Manager is the leading
solution and industry standard in payment
card fraud detection. Built on a robust service-
fraud detection system With FICO Falcon Fraud
Manager 6 you can:
oriented architecture, Falcon Fraud Manager Falcon Fraud Manager is designed to reduce
fraud losses with minimal customer impact Improve fraud detection by up to
uses advanced analytic techniques that 5% with adaptive analytics. Falcon
synthesize intelligence drawn from billions through unmatched capabilities including:
6 has new adaptive analytics, which
of payment card transactions and hundreds augment the robust base analytics
Patented Cardholder Profiling
of person-years of experience to weigh key with models that learn in real time
Technology. Identifies key transaction
attributes and identify fraud with the utmost from your case dispositions.
behaviors and spending patterns for each
reliability—all in a fraction of a second. Falcon
cardholder to ensure rapid recognition of Improve detection by up to
Fraud Manager provides a single platform for
uncharacteristic expenditures. 44% with global profiles. Falcon
card fraud detection—credit and debit—and 6 has new global profiles, which
with a direct link to your authorization system, Neural Network Modeling. Patented complement cardholder profiles
you can stop fraudulent transactions right at analytic technology provides the most with the ability to focus on high risk
the point of sale. accurate predictive models available based on entities such as ATMs, merchants
transaction data and cardholder profiles. and countries.
Industry-specific Falcon Fraud Manager models
Consortium Models. Unique to Falcon Fraud Control fraud across the enterprise.
—for credit, debit, retail and oil cards—fine-
Manager, the FICO consortium incorporates Now you can manage fraud related
tune the fraud management solution to detect
data from millions of transactions across
to multiple products from a single
fraud characteristics specific to the portfolio,
platform, and take a customer-level
thereby improving the solution’s accuracy. thousands of issuers to leverage powerful
view of fraud cases with enterprise
knowledge about fraud patterns—specific to
case management capabilities.
a region and portfolio—for improved fraud
detection, no matter the size of your portfolio.

www.fico.com Make every decision countTM


FICO™ Card Alert Service.1 Integration of the
Features Benefits Card Alert Service with Falcon Fraud Manager
cuts fraud run time and increases the ability
Robust neural network models with Detects more fraud with lower false to block risky transactions. You can manage
patented cardholder profiling and positives to provide minimal impact on alerts in Falcon Fraud Manager, create cases for
monitoring of other entities good customers Suspect Activity Reports and build rules around
the reports.
Real-time rule creation, rule simulation Delivers earliest possible warning of
and rule implementation fraud activity Multi-channel detection. Falcon Fraud
Manager can detect multiple types of frauds
Efficient investigations with sophisticated Boosts analyst productivity and improves across channels and/or bank products within a
case management system effectiveness of fraud operations single instance and investigative view. Falcon
Fraud Manager consolidates multi-channel
Seamless integration with your Identifies fraud sooner to give you more
fraud cases and account activity at the
authorization system for real-time scoring opportunity to reduce losses
customer level.
Region and portfolio-specific fraud Leverages known fraud patterns to
models leverage industry-wide achieve highest fraud detection levels »» An architecture for
consortium data smarter decisions
Falcon 6 is built on FICO’s scalable Decision
Adaptive models generate fraud scores Adjusts to your findings about fraud
Management architecture. This provides a
based on analyst feedback dispositions
common service-oriented foundation for
rapidly bringing analytics-driven decisioning
Transaction-Based Scoring. Analyzes each Global profiles. Many patterns of fraud into more areas of the customer lifecycle—and
authorization transaction to assess risk of are best detected by global profiling, which for connecting decisions across it in ways that
fraudulent activity. Provides an accurate fraud provides a more complete picture of fraud create more value for you and your customers.
score, indicating the likelihood that the account by looking across multiple entities such as
is fraudulent. merchants, devices, or countries. By looking for Falcon 6 makes extensive use of the new
unusual behavior of a device, such as an ATM or service-oriented Decision Management
»» New to Falcon 6: point-of-sale (POS) terminal, strongly predictive architecture, including a common customer
data model, case management and rules
variables can be created and combined with
Improved Rules Management. Provides management components.
the account information to better identify
an easy method for independently defining,
fraud. ATM profiling can provide about a
testing and deploying rules based on your
organization’s strategies, by leveraging the
10% lift in account detection and about 15% »» The industry leader in
industry-leading FICO™ Blaze Advisor® business
improvement in real-time value detection over card fraud detection
the standard Falcon model.
rules management system. Enables you to Falcon Fraud Manager monitors transactions
respond quickly to new threats as they arise for more than 1.8 billion active accounts
Adaptive models. Adaptive models use
and fine-tune the fraud solution to your across six continents. First introduced in 1992,
recent fraud activity to sharpen detection
organization’s policies and practices. it now saves leading card issuers millions of
by creating a more precise separation
dollars every day. In fact, US fraud losses, as
between frauds and non-frauds based on
Improved Case Management. Offers a web- a percentage of sales, have declined from a
case dispositions. While retaining the benefit
based, user-friendly, customizable environment peak of over 18 basis points in 1992 to 6.2 basis
of the consortium model approach, adaptive
for analysts to investigate referred accounts, points in 2006.2
models quickly learn the unique fraud patterns
providing comprehensive information to
at play for each issuer, and provide a real-
quickly and efficiently disposition cases. Find out how many of our clients have
time adjustment to the consortium model
Through the configuration workstation, super- reduced fraud losses by 50% or more.
score for the immediate fraud situation being
visors are able to set workflow parameters, Contact us today about FICO Falcon Fraud
experienced by the bank. Adaptive modeling
define score thresholds, develop and manage Manager and FICO’s approach to fraud.
techniques can provide a 10% performance
rules and obtain reporting information.
lift in real-time value detection over a standard
Falcon model.
1
Currently available in the US only
2
Source: The Nilson Report

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