FICO teams up with 41st Parameter for CNP security solutions

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.