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October 13, 2011
SÃO PAULO—3, 2011— FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that it has reached a milestone in the Brazilian market, with 72.4 million cards issued by Brazilian banks protected by its FICO™ Falcon® Fraud Manager solution. An estimated 41 percent of Brazil-issued credit cards are now managed by FICO’s fraud solution.
FICO™ Falcon® Fraud Manager is used by most of the leading banks in Brazil, one of the fastest-growing credit card markets. According to a recent study from Lafferty Group about the Brazilian market, credit card sales volume has grown on average by more than 20 percent annually since 2005.
“Brazilian banks are focusing their IT capabilities on product and service innovation, and fraud prevention is obviously one of their priorities,” said Andreas Suma, FICO Senior Director for Latin America. “FICO’s solution enables card issuers to identify previously undetected fraud patterns, and at the same time strengthen the customer relationship through better protection and less disruption to genuine card usage."
"Card portfolios require predictive analytics to ensure that the foundation of each transaction is irrefutable," said Brian Riley, senior research director at TowerGroup, a Corporate Executive Board company. "The availability of globally recognized fraud management products in the Brazilian market provides regional issuers with proven tools for mitigating fraud risk."
FICO™ Falcon® Fraud Manager is the most accurate and comprehensive solution for detecting payment card fraud, reducing losses by up to 50%. Around the world, 17 of the top 20 credit card issuers rely on the FICO Falcon system to protect transactions for more than 2 billion active card accounts. About 65% of worldwide credit cards are protected by the fraud detection system Falcon.
About FICOFICO (NYSE:FICO), formerly known as Fair Isaac, delivers superior predictive analytics solutions that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO’s innovative solutions include the industry-leading solutions for measuring credit risk, managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO: Make every decision count™.For FICO news and media resources, visit www.fico.com/news.
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