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Putting Some “Wow” Into the War on Fraud

Coming hot on the heels of the announcement of FICO's acquisition of Adeptra, the Asia Pacific Heads of Fraud conference in Phuket recently featured a demonstration of how FICO and Adeptra solutions bring new power to the fight against fraud.

More than 20 banks from places as diverse as India, China, Malaysia, Indonesia and Viet Nam met with international fraud and contact management experts from FICO to learn how Adeptra's fraud resolution technology, which is already integrated with FICO Falcon Fraud Manager 6, can improve fraud management disciplines at low cost without compromising service or protection levels.

As consumers continue to embrace new technology, new devices and greater automation, that same technology can allow banks to communicate with their customers faster and more effectively than ever before. And by using the channels each customer prefers, banks can reduce fraud losses while building customer goodwill.

I know how well this can work. I originally came across Adeptra in the early 2000s while working for Visa, where many European clients were using their auto-resolution services to excellent effect. I subsequently used Adeptra's services while managing card fraud at Lloyds to help dig deeper into the risk queues, and to provide significantly improved contact and customer service strategies.

The speed with which the integration between Falcon and Adeptra's auto-resolution service can generate a customer contact generates a real "wow" factor for customers who are making irregular purchases. It shows that the bank is really looking after the customer’s money.

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