FICO partnered with Adeptra to integrate its payment card fraud detection product, FICO Falcon Fraud Manager 6, with Adeptra’s Automated Customer Contact capabilities.

The resulting offering allows users to set complex strategies for flagging and verifying suspicious card transactions and then contact customers automatically, in real-time, using various channels including voice, text, and email. This capability expands the reach of fraud operations, the companies state, without restrictions of staffing requirements or live-agent costs.

Users configure the system by inputting rules according to their particular fraud detection strategies—for example, specifying which cases should be sent to an autodialer or to a text messaging service—and then the system automatically executes according to the rules. In addition, real-time communication between the FICO and Adeptra systems allows issuers to set parameters that automatically place blocks on cards in high-risk scenarios, and then remove those blocks after card users have been contacted and activity validated.

“It’s difficult today for card companies to grow and operate efficiently, so the more they can focus the resources they have on generating revenue instead of preventing losses the healthier their business will be,” said Deborah Kerr, chief technology officer at FICO.

Built on a service-oriented architecture, FICO Falcon Fraud Manager 6 uses analytic techniques that synthesize intelligence drawn from billions of payment card transactions and hundreds of person-years of experience to weigh key attributes and identify fraud—all in a fraction of a second. The new version introduces adaptive analytics, enabling institutions to identify and respond to new threats even more quickly, and patented profiling techniques targeting high-risk ATMs, merchants, point-of-sale devices, and risky geographic regions.

Adeptra’s real-time, automated, two-way communications platform and focus on the customer experience enable consumer engagements in voice, text, email, and direct mobile communications for core servicing, fraud, collections and marketing management.

For more information go to:
http://www.fico.com/en/Company/News/Pages/06-09-2011.aspx