FICO® Application Fraud Manager

FICO® Application Fraud Manager

Stop fraud at the point of origination.

Product Details

The proliferation of data breaches, digital channels, and payments innovations has driven a surge in new account fraud. Criminals exploit technology, legacy controls, and organizational siloes to perpetrate identity theft, synthetic identity fraud, and first party fraud.

FICO Application Fraud Manager stops fraud at the point of origination for your entire enterprise – across all products and channels. Leverage cutting edge machine-learning analytics, powerful layered matching capabilities, and automate resolution to reduce fraud losses – whether in the Cloud or on-premises.

 

Gain fraud protection, fast

Deploy the most essential originations fraud prevention capabilities to address critical gaps, and incrementally “bolt-on” components to build a best in class program that facilitates full-view decisioning across internal, third-party, and FICO data, scores, and capabilities for the entire enterprise.

Reduce losses, in real-time with AI

Superior machine-learning analytics mean better detection precision, optimized operational capabilities mean automation, and intuitive controls means fraud strategists respond more quickly to emerging fraud schemes. A top North American card issuer experiencing more than 2x annual growth in identity theft estimated a loss avoidance of over $20MM with FICO Application Fraud Manager, as well as additional loss mitigation for first-party fraud that can spike to 10x the value of third-party fraud losses.

Make the experience frictionless – for your good customers

Real-time decisions, layered and consistent controls across the enterprise, having the tools needed to adapt and grow defenses over time, and leveraging Cloud to reduce legacy hardware costs means more than just financial savings. It means saying yes more to grow the top line, while protecting the bottom line.

‌ Machine learning analytics: Seamlessly analyze hundreds of behavioral characteristics and identify patterns that are fraudulent, inconsistent and aberrant. Robust characteristic libraries and superior feature generation technology, including self-learning and adaptive analytics techniques, ensure FICO’s models are the highest performing on the market.

‌ Stop identity theft, synthetic identity fraud, and first party fraud: Application fraud stems from an identity problem, whether that identity is stolen, synthetic, manipulated or true name. Detect across the spectrum of fraud types from brute force organized to opportunistic, regardless of product or channel.

‌ Best-in-class detection strategies: Fraud strategy should be owned by the fraud business. Pre-packaged, proven fuzzy matching and policy rules configurable in an intuitive user interface ensures adaptability to emerging fraud schemes.

‌ Case management: Step-up capabilities and optimized case review minimizes time to resolution and automates decisioning.

‌ Link analysis: Advanced link analysis and network analytics (SNA) ensure organized fraud rings are detected and investigated faster by leveraging sophisticated fuzzy matching algorithms, extensive SNA characteristic libraries and superior data visualization.

‌ Flexible data orchestration: Whether internal or third party, agilely adapt the originations data ecosystem to enrich decisions with an integrated data framework to move past the paradigm of point-in-process controls.

‌ Straight through processing: Pre-integration with a number of originations systems, including FICO® Origination Manager, reduces time-to-value, provides technology synergies, and improves analyst productivity.

Resources

description

FICO® Application Fraud Manager

Stopping fraud at the point of application is the best defense against future liabilities. While that’s a simple, clear fact, defending against application fraud is a complex challenge. As fraudsters’ methods evolve, ap...
note

Multinational bank prevents application fraud using a real-time, enterprise fraud approach

North American Bank Fights Fraud with FICO Application Fraud Manager.
book

Synthetic Identities – Are you Chasing Invisible Footprints?

A combination of fictitious and potentially stolen personally identifiable information (PII) leveraged to compose a false and fabricated identity.
insert_chart

Are you losing customers because of your identity and fraud checks (US Survey Results)

FICO origination and application fraud solutions are designed to help you manage the delicate balance between fraud protection and customer satisfaction. We help you onboard more genuine customers, keep them happy and protected and reduce your losses to fraud.