Dec. 11, 2012
(NYSE: FICO), the leading provider of
and decision management technology, today announced a new agreement with
EVERTEC Group, LLC
to use the
FICO® Card Alert Service
to protect and defend against counterfeit card and skimming fraud in
. A longstanding FICO client, EVERTEC is also upgrading to
FICO® Falcon® Fraud Manager
6.3, the latest version of the world's leading payment fraud solution.
EVERTEC operates the ATH
Network, the leading debit payment and automated teller machine (ATM) network in
. EVERTEC executes more than 1.2 billion transactions annually, and operates networks of more than 4,900 ATMs and more than 107,000 point-of-sale payment terminals in
. EVERTEC will use the FICO Card Alert Service for early identification and reporting of suspected counterfeit card and skimming fraud for its ATH
Network. The FICO Card Alert Service combines powerful predictive analytic software with investigative techniques to help organizations fight ATM fraud that originates from counterfeit card and PIN skimming. It protects 11,000 U.S. financial institutions against counterfeit fraud, including the top 25 banks and seven payment processing networks.
"EVERTEC is upgrading its fraud offering for our ATH Network members with strong tools to defend against payment card fraud including counterfeit cards and skimming fraud," said
, senior vice president at EVERTEC. "Falcon Fraud Manager and FICO Card Alert Service are the most up-to-date solutions for protecting our clients and their customers from fraud losses."
"Payment card fraud remains a significant problem worldwide, especially with increases of counterfeit and skimming fraud," said
, vice president of product management at FICO. "For 20 years FICO has helped issuers stay ahead of criminals. By partnering with FICO, EVERTEC will be able to protect and defend the financial institutions participating in its ATH Network from fraud."
EVERTEC is upgrading to FICO® Falcon® Fraud Manager 6.3 to improve fraud prevention, detection, investigation, recovery and remediation to its card processing customers. EVERTEC uses Falcon's real-time fraud capabilities to score debit and credit card transactions as they occur. This approach has been demonstrated to be a powerful deterrent to criminals, who can literally be stopped at the point of sale.