FICO® Falcon® Fraud Manager

Key Benefits

• Accelerate detection of shifting fraud patterns
  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 10% 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.
• FICO Self Calibrating Analytics
  Sophisticated account level behavior analytics accurately detect and prevent electronic payment fraud, while advanced self-calibrating profiles tune in production to reduce false positives associated with changing market or consumer behavior.
• Reduce losses by detecting fraud earlier, with fewer false positives
  FICO Falcon Fraud Manager accurately detects fraud on payment card authorization and electronic payment transactions in a fraction of a second. It identifies suspicious account holder, and 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.
• FICO Self Calibrating Analytics
  Sophisticated account level behavior analytics accurately detect and prevent electronic payment fraud, while advanced self-calibrating profiles tune in production to reduce false positives associated with changing market or consumer behavior.
• 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.