FICO teams up with 41st Parameter for CNP security solutions

Wednesday 11 June 2014 14:02 CET | News

FICO, a predictive analytics and decision management software company, has partnered with 41st Parameter, a part of Experian and a provider of secure online relationships, to fight fraud on card-not-present (CNP) transactions.

FICO is integrating 41st Parameter’s TrustInsight with the FICO Falcon Platform, which protects 2.5 billion card accounts and is used by more than 9,000 financial institutions worldwide. Authenticating the device being used in a transaction provides yet another layer of detection to the Falcon Platform, which includes proprietary analytics based on more than 30 patents.

A research by FICO reveals that total card fraud grew 13% in the US from January 2012 to September 2013. During this period, CNP fraud accounted for nearly half of credit card and debit card fraud.

FICO is an analytics software company, providing analytics software and tools used across multiple industries to manage risk, fight fraud, build profitable customer relationships, optimize operations and meet strict government regulations.

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Keywords: FICO, 41st Parameter, CNP security solutions, security, web fraud
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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