FICO, a provider of analytical software aimed at decision making, has partnered with Conductor, a Brazilian company specializing in electronic payments, to protect Brazilian payment cards from fraud. FICO® Falcon® Platform will protect millions of credit cards processed by Conductor.
“We value companies that, just like us, wish to add value to customers, that constantly aim to develop and provide the best solutions in the market,” said Antonio Soares, Conductor’s CEO. “With the FICO partnership, we are able to offer the most renowned and recognized anti-fraud solution in the market – both to issuers who already are our customers, and to those who are not and just wish to hire that service.”
“Falcon is an artificial intelligence solution based on dozens of machine learning patents that excel at detecting transactional fraud,” said Alexandre Graff, vice president of FICO in Latin America. “Falcon models are based on the largest data fraud consortium in the world, the Falcon Intelligence Network. Conductor will also offer omnichannel communication based on FICO Customer Communication Services, which further reduces false positives and takes user experience to a higher level. For example, when the system identifies abnormal behavior, it communicates directly with the user’s preferred communication channel to confirm whether it is fraud or not.”
The FICO® Falcon® Fraud Platform uses Cognitive Fraud Analytics and artificial intelligence technology, detects fraud in real time and can adapt to changes in fraud trends. The solution improves management of transactional fraud detection on payment cards, deposits, debits, and electronic and mobile payments. Falcon protects more than 2.6 billion payment cards worldwide.