MINNEAPOLIS, Nov. 28, 2012 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of predictive analytics and decision management technology, today announced that FICO® Falcon® Fraud Manager has received a "best-in-class" designation in all four card fraud management solutions categories in the CEB TowerGroup report. FICO received the designation for fraud analytic tools, enterprise operations, workflow management and enterprise support.
FICO® Falcon® Fraud Manager received the designation due to its fraud detection, ability to offer card issuers insight into risk and help shield against loss, affect the comprehensive handling of an account, and help card issuers effectively process work by streamlining account and transaction flows."Card issuers and their processors must ensure fraud technologies remain ahead of thieves who attack the card data at rest, in use, or in motion, and anticipate new risks as they arise," said CEB TowerGroup senior research director, Brian Riley. "FICO and other providers have been developing card fraud analytic tools that meet business partner needs and provide the necessary level of security for card transactions." "A CEB TowerGroup assessment is the benchmark for evaluating card fraud management solutions," said Doug Clare, vice president of product management at FICO. "Our clients are a large part of the reason we've achieved best-in-class and market leadership positions. Innovations like adaptive analytics and global profiling techniques were developed for them and with their input, and we're confident that by remaining focused on helping our clients stay ahead of fraud, we'll remain best-in-class in payments fraud solutions." FICO® Falcon® Fraud Manager is the most accurate and comprehensive solution for detecting payment fraud, reducing losses by up to 50 percent. Protecting more than 2.5 billion payment accounts worldwide, Falcon Fraud Manager detects fraud while minimizing both operational costs as well as adverse customer impacts.