FICO® Falcon® Fraud Manager
Falcon Fraud Manager
Products > Decision Management Applications > FICO® Falcon® Fraud Manager

FICO® Falcon® Fraud Manager

The new release of FICO Falcon Fraud Manager 6 is the most accurate and comprehensive solution for detecting payment card fraud, reducing losses by up to 50%. No other system detects as much fraud with as little impact on customers and low operational costs—which is why 17 of the top 20 credit card issuers worldwide rely on the FICO Falcon system to protect transactions in more than 2.1 billion active accounts. With FICO Falcon 6, you can use even more advanced analytics to detect up to 44% more fraud.
Key Benefits
  • Accelerate detection of shifting fraud patterns and CNP fraud
    FICO Falcon Fraud Manager 6 introduces adaptive analytics, which augment the robust base analytics with models that learn in real time from your own case dispositions. Adaptive analytics have been shown to deliver up to a 5% lift in detection. Adaptive analytics build on FICO Falcon’s powerful consortium-based models, which protect you from schemes experienced by other issuers that have not yet hit your portfolios.
  • Expand your protection by studying high-risk ATMs and other entities
    Global intelligent profiles in FICO Falcon 6 complement cardholder profiles with the ability to focus on high-risk ATMs, merchants, risky geographic regions and other criteria. Global intelligent profiles can improve fraud detection by up to 44%, and are particularly effective in reducing cross-border fraud. These profiles limit analysis to those entities with recent abnormal or suspicious patterns, in order to reduce the processing resources required.
  • Reduce losses by detecting fraud earlier, with fewer false positives
    FICO Falcon Fraud Manager accurately detects fraud on authorization transactions in a fraction of a second. It identifies suspicious cardholder (and, optionally, device) behavior patterns, generating a score indicating likelihood of fraud. Use it in real time to stop fraud on the first transaction or near-real-time to catch fraud quickly before losses mount.
  • Minimize cardholder impact and operational costs
    FICO Falcon Fraud Manager produces low rates of false positives (legitimate transactions scoring high for potential fraud). Fewer transactions referred to analysts—and more fraud in those that are—reduces costs and improves productivity.
  • Stop "flash frauds" on the spot
    When a concentrated attack is underway or a new threat emerges suddenly, you are able to quickly modify authorization or case generation rules to complement FICO Falcon models for increased protection.
  • Focus your analysts where the risk is greatest
    Integrated business rules management and configurable case management let you flexibly set referral thresholds and rules for queues and workflow. Score rankings and reason codes point analysts to the highest risk cases and areas of suspicion, enabling them to disposition referrals faster.
  • Control fraud across the enterprise
    With FICO Falcon 6, you can manage fraud related to multiple products from a single platform, and take a customer-level view of fraud cases with enterprise case management capabilities. FICO Falcon 6 is built on FICO’s scalable Decision Management architecture, a common service-oriented foundation for connecting decisions across the customer lifecycle.
Feature Highlights
  • Includes patented profiling technology that "learns" cardholder and device behavior patterns
    FICO dynamic profiling condenses enormous amounts of cardholder historical transactional data, capturing the most predictive variables in an efficient form for real-time analytics. Updated with every transaction, these dynamic profiles enable analytics to "learn" cardholder behavior patterns as they evolve. FICO Falcon 6 includes global intelligent profiles that increase fraud detection by profiling high-risk ATMs, regions and other entities.
  • Analyzes case dispositions to improve detection performance
    FICO Falcon Fraud Manager 6 introduces adaptive analytics, models that learn in real time from your own case dispositions. Adaptive analytics have been shown to deliver up to 5% lift in detection.
  • Performs detection based on an unparalleled pool of global transaction data
    FICO Falcon consortium models are built using transaction data from 65% of the world's credit cards, yielding highly predictive variables and a wide range of fraud patterns. Custom models are also available.
  • Scores transactions for fraud in real time
    Advanced neural network models analyze transactions against profiles and known fraud patterns, generating high scores (1 to 999 score range) for suspicious transactions. FICO Falcon Fraud Manager can operate in real time with throughputs of under milliseconds, in near-real-time online configurations, or in batch mode.
  • Offers models for multiple types of payment cards
    Specific fraud models are available to provide focused detection and increased accuracy for different types of payment cards (credit, debit, retail, oil).
  • Incorporates rules management powered by the leading BRMS
    The Falcon Expert Rule Management Application enables business users to easily customize and modify fraud detection strategies and work processes. Based on the industry-leading FICO™ Blaze Advisor® business rules management system, the tools also let you quickly simulate the impact of rule changes and test performance.
  • Provides a customizable web-based Case Management workstation
    Highly configurable web-enabled environment facilitates rapid case disposition and supports extensive search options and reporting for thorough investigations.
  • Supports numerous performance enhancements
    Fraud Predictor with Merchant Profiles raises detection accuracy up to 50% by expanding visibility into suspicious activity not evident from cardholder behavior patterns alone.

Reducing electronic transfer fraud losses by 88%

When BBVA Bancomer, one of Mexico's largest banks, installed FICO Falcon Fraud Manager, one of its biggest fraud problems, illegal electronic transfers, was immediately solved. Within minutes after the real-time fraud detection system went online, the bank was detecting 90% of attempts. Of the fraud detected, 80% of funds were recovered, bringing losses down 88%. Attempts subsequently dropped by 50%.

Read the full success story
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