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26. September 2013

FICO Asia Pacific Fraud Forum Calls Bankers’ Attention to Growing Problem of Enterprise Fraud

26. September 2013

Singapore — September 26, 2013 — FICO (NYSE:FICO), the leading provider of analytics and decision management technology, alerted chiefs of leading Asian banks to the growing threat of enterprise fraud at its annual Fraud Forum in Manila this month. FICO urged the bankers to adopt the latest operational and analytic techniques to fight fraud across such emerging threat vectors as demand deposit accounts, mobile channels, application fraud and merchant fraud, as the region shifts to a post-EMV chip landscape.

The conference attracted nearly 30 of the leading banking fraud and risk executives from nine countries across Asia Pacific, who met for three days to address the growing sophistication of criminals who commit fraud, and the latest approaches to thwarting them.

FICO estimates that fraud in Asia Pacific costs in excess of US$350 million each year and is growing at an annual rate of 20-25 %. Closing loopholes for criminals while delivering services that minimize customer inconvenience remains a key concern for banks. Mobile and online fraud, specifically card not present (CNP) transactions, continue to present a challenge, especially in markets that have secured traditional card transactions with EMV chips and pins.

"Asian consumers place a high value on convenience and are among the fastest adopters of new channels such as mobile and online banking," said Dan McConaghy, president for FICO in Asia Pacific, who hosted the forum. "At the same time they seek confidence from banks that these channels are effectively protected, so rapid deployment of channel-specific defenses is especially critical in Asia. By taking an enterprise-wide approach, banks can earn their customers' trust with swift fraud detection and positive customer contact, while also minimizing losses."

Research firm Berg Insight predicts that the number of mobile financial services users will grow to 894 million globally by 2015, with a majority of that growth occurring in Asia. In fact, China alone already accounts for 40 percent of mobile banking users worldwide, according to separate research by analysts at Celent. Asia is leading the way in mobile banking because consumer behavior is leading the banks, but also because of the benefits to investing in consumer technology in areas with high growth and lower branch numbers.

At the Fraud Forum, FICO also announced the transformation of the industry-leading FICO® Falcon® Fraud Manager, which protects 2,5+ billion card transactions per year, into a broad technology platform that will accommodate individual solutions for business segments, including credit, debit and online/DDA/mobile. In addition, FICO’s Dr. Maria Derderian explained how innovative streaming analytics are able to “learn” from individual changes in customer spending to deliver more accurate fraud scoring and fewer false positives. FICO detailed this new approach to fraud analytics in a white paper, “Is it Fraud? Or New Behaviour? which was released at the event.

Forum participant Emmanuel Narciso, head of transaction banking for BDO Unibank, the Philippines’ largest bank, said, “We welcome the developments in fraud management technology and techniques across all the channels where our customers transact. Fraud risk and customer service is a very important balancing act for our bank, especially as Filipinos are taking to online and mobile banking in greater numbers.”

More information on FICO’s enterprise fraud approach is at www.fico.com/enterprisefraud.
Join the conversation on twitter at: @FICOnews_APAC

Über FICO
FICO (NYSE: FICO) ist ein führender Anbieter von Predictive Analytics und Softwarelösungen für Entscheidungsmanagement, das Unternehmen in über 90 Ländern dabei unterstützt, bessere Entscheidungen zu treffen, um Wachstum, Profitabilität und Kundenzufriedenheit zu steigern. Der zukunftsweisende Einsatz von Big Data und mathematischen Algorithmen zur Erstellung von Prognosen zum Kundenverhalten hat ganze Branchen grundlegend gewandelt. Die Analytics-Softwarelösungen und -Tools von FICO werden in den verschiedensten Branchen verwendet, um Risiken und Betrugsfälle zu verringern, profitablere Kundenbeziehungen aufzubauen, Abläufe zu optimieren und strenge regulatorische Vorgaben zu erfüllen. Viele unserer Produkte finden branchenweit Akzeptanz – wie z. B. FICO® Score, die Standard-Messung für Verbraucherkreditrisiken in den USA. FICO-Lösungen integrieren Open-Source-Standards und Cloud Computing, um so maximale Flexibilität und schnelle Bereitstellung zu ermöglichen und Kosten zu reduzieren. Das Unternehmen hilft Millionen von Menschen dabei, ihren persönlichen Kreditstatus zu verwalten.

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Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012 and its last quarterly report on Form 10-Q for the period ended June 30, 2013. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.

FICO, Falcon and “Make every decision count” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

Newsroom-Kontakte

Greg Jawski
Amerika

greg.jawski@porternovelli.com
+1 212-601-8248

Darcy Sullivan
Europa, Naher Osten und Afrika

dsullivan@fico.com
+44 (0) 209-940-8719

Saxon Shirley
Asien-Pazifik

saxonshirley@fico.com
+65 6422-7795

Marisa Arribas
Lateinamerika

marisaarribas@fico.com
+1 786 482 7231

Milla Delfino
América Latina

milladelfino@fico.com
+55 11 97673-6583