TSYS and FICO Launch Integrated Fraud Management Solution
August 19, 2013 - Columbus, Georgia, United States And London, United Kingdom
TSYS (NYSE: TSS), a leading global payments solution provider, and FICO® (NYSE: FICO), a leading analytics software company, have announced the integration of FICO’s latest version of its fraud management solution, FICO® Falcon® Fraud Manager 6 with TSYS’ licensed PRIME card and merchant management solution. This extension to TSYS’ global strategic alliance with FICO will enable TSYS to offer the Falcon Fraud Manager solution as a hosted service to its licensing clients around the globe.
TSYS and FICO’s integrated solution is being successfully utilised by EnterCard, a Nordic-based TSYS PRIME client since 1999. The integrated Falcon solution manages fraud by examining the behavioural aspects of cardholder activity, using advanced analytic models to provide real-time decisions. Combining best-in-class neural network models with merchant profiles, the solution even goes one step further detecting fraud by using adaptive models that change as global fraud patterns migrate.
Since the integration of the Falcon and PRIME solution, EnterCard bank experts are predicting a 40-percent decrease in fraud losses and risk exposure.
Jaffar Agha-Jaffar, group executive of PRIME Licensing, TSYS International, said, “We are committed to developing PRIME and maintaining its historic international footprint as a platform of innovation. Leveraging PRIME’s interoperability, and extending strategic value-added services that can be offered with best-of-breed partners such as FICO, is another area of PRIME’s roadmap where we are building momentum quickly and continuing to advance our commitment to people-centered payments.”
T.J. Horan, vice president of global fraud solutions for FICO, said “With fraud increasing and evolving around the globe, it is more important than ever for financial institutions to protect their customers’ exposure to fraud with advanced analytics. Falcon’s powerful analytics which protect more than 2.5 billion payment cards worldwide, offer TSYS PRIME customers the most effective anti-fraud solution available to card issuers around the world.”
To watch TSYS and FICO’s related Fraud webinar on the importance of leveraging global data sets, realigning detection models, and distributing the cost load, go to: http://www.tsys.com/europeanfraudwebinar.
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered PaymentsSM." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.
FICO (NYSE: FICO), formerly known as Fair Isaac, is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption — such as the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. Learn more at www.fico.com. FICO: Make every decision count™.
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CONTACTS : TSYS Media Relations Cyle Mims +1.706.644.3110 firstname.lastname@example.org or TSYS Investor Relations Shawn Roberts +1.706.644.6081 email@example.com or TSYS Sara Ruffell +357.22882600 firstname.lastname@example.org or Catalysis for FICO Irina Babicheva +44 (0)20 7759 2021 email@example.com
Source: Business Wire India