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Fair Isaac Boosts Fraud Detection Capabilities for Debit Card Issuers

Fair Isaac Corporation the provider of analytics and decision management technology, announced that it will team up with NYCE Payments Network, LLC, a U.S. debit card payments network, to deliver innovative device-profiling technology to the debit card industry.

With NYCE, a Metavante company, Fair Isaac will extend its account-profiling technology to ATMs and point-of-sale (POS) terminals to determine the fraud risk associated with individual devices. Based on data from NYCE's network of 280,000 ATMs and 1.5 million POS locations nationwide, the technology will identify typical, nonfraud transaction patterns for each terminal and create device profiles that enable detection of abnormal, potentially fraudulent transaction patterns.

Building upon Fair Isaac's fraud analytic technology for account-profiling, custom Falcon neural network models for debit transaction data, and comprehensive case and rules management capabilities, the device-profiling technology will add a new dimension to the use of transaction data in detecting PIN-based fraud. NYCE participants will be able to detect and stop fraud in real time, during the authorization process and before a loss is incurred, by determining the risk associated with individual devices.

In addition to building a custom device model utilizing NYCE terminal data, Fair Isaac will develop a custom Network PIN Debit Falcon model using historical data from Falcon customers worldwide. NYCE also will leverage its existing investment in Fair Isaac's CardAlert Fraud Manager, which identifies and reports counterfeit payment cards to issuers before the majority of them incur fraud losses. The integration of CardAlert with the new fraud analytic solution will further increase NYCE issuers' fraud detection rates and savings while significantly reducing fraud run-time.

The core fraud detection technology leveraged in the development of Fair Isaac's new device-profiling model currently protects more than 900 million payment cards worldwide. Leading U.S. financial institutions, including the top 25 banks and three out of the five top ATM networks, use Fair Isaac's industry-standard fraud analytic solutions such as Falcon Fraud Manager and CardAlert Fraud Manager to combat fraud.


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