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5. August 2015

New FICO Solution Helps Banks Empower Consumers to Fight Fraud

5. August 2015

FICO Consumer Fraud Control is a mobile app solution that empowers consumers to configure card usage controls and transactional alerts, for greater peace of mind.

SAN JOSE, Calif. — August 5, 2015 — FICO (NYSE:FICO), the analytics and decision management software company, today introduced FICO® Consumer Fraud Control, a new solution for banks that enables their cardholders to configure card usage controls and transactional alerts via the bank's mobile app.

Highlights:
Building on FICO's market-leading FICO® Falcon® Fraud Platform, Consumer Fraud Control allows consumers to easily shield themselves from potential fraud, as well as closely manage daily card use. Cardholders can:

  • Set controls on when, where and how their cards are used, such as blocking certain purchase types or cash withdrawals, setting maximum transaction amounts and restricting merchant types
  • Customize real-time alerts or push notifications on their account and card activity, enabling them to monitor transactions in real time
  • Monitor activity and instantly pause card function in the event of suspected fraud or loss

"These controls do more than just protect against fraud," said TJ Horan, vice president of fraud solutions at FICO. "They enable concerned consumers and active budget managers to control how their cards are used. This is the easiest and most comprehensive solution of its type, and we’re making it available to our banking partners. The extra layer of protection may increase a cardholder’s spending levels, improve the bank's share of wallet, and increase engagement with the bank's mobile app."

A 2014 study by Unisys found that 59 percent of Americans fear bank card fraud - more than terrorism (47 percent) or disease epidemics (34 percent). A FICO study in late 2014 showed that more than half of consumers in the UK and the US wanted to use a mobile app to control the types of transactions and the dollar amounts allowed on their cards.

"Banks have found tremendous value in our FICO® Score Open Access program, which provides banks' consumers greater transparency and understanding by sharing the FICO Scores the lenders use," said Geoff Smith, vice president for consumer solutions at FICO. "FICO Consumer Fraud Controls now enables banks to further empower consumers by helping them protect and manage their credit and debit cards."

FICO has led payment card fraud protection for more than 20 years. The FICO® Falcon Fraud Platform protects 2,5 billion payment cards worldwide, using advanced analytics and cardholder profiles. The solution is available now to global banks and card issuers who want to offer their customers greater peace of mind.  More information: http://www.fico.com/en/products/fico-consumer-fraud-control.

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. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. 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.

Learn more at www.fico.com.

FICO is a trademark or registered trademark of Fair Isaac Corporation in the United States and in other countries.

For FICO news and media resources, visit www.fico.com/news.

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

Camila Placa
Brasilien

camilaplaca@fico.com
+55 11 5189-8258