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FICO And EVERTEC Team Up To Combat Fraud Threat In Puerto Rico And The Caribbean

Stocks in this article: FICO

MINNEAPOLIS, Dec. 11, 2012 /PRNewswire/ --  FICO (NYSE: FICO), the leading provider of predictive analytics 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 Puerto Rico. 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.

(Logo:  http://photos.prnewswire.com/prnh/20111010/CG83314LOGO)

EVERTEC operates the ATH ® Network, the leading debit payment and automated teller machine (ATM) network in Puerto Rico. 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 Puerto Rico and the Caribbean. 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 Jorge Hernandez, 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 Doug Clare, 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.

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