eFunds Selects Fair Isaacs New Falcon Fraud Manager

eFunds is the first client to implement the newest version of the industry-standard payment card fraud detection solution, which helps businesses streamline operations for even greater control over fraud losses. Falcon Fraud Manager uses a combination of sophisticated neural network models, patented account profiling technologies, case management and flexible, user-definable intelligent rules to analyze payment card transactions for the most subtle signs of fraud, enabling financial institutions to take immediate measures to stop fraudulent transactions. Version 5.1 features a complete redesign of the Falcon solution, including a new architecture and significant case and rules management technology enhancements. The new solution will allow eFunds to offer participating card issuers access to highly effective fraud prevention technology that enables them to streamline resources, achieve significant cost savings and maintain focus on card portfolio growth and enhanced customer service. The latest version of Fair Isaacs Falcon Fraud Manager is built on a new modular platform that simplifies implementation, maintenance and future upgrades with less demand on eFunds IT resources. Written in Java, with a Web-based workstation, Falcon 5.1 allows eFunds to offer its card issuers more flexibility for rules and case management in eFunds multi-client environment. The enhanced solution also offers an expanded, configurable Application Program Interface (API), which provides users with more flexibility by enabling them to add their own custom variables. A key enhancement to Falcon 5.1 is the addition of the industrys leading rules management capabilities. A new Rules Editor feature, based on Fair Isaac Blaze Advisor, eliminates the limits on the number and length of rules. Rules can be easily tracked and modified to quickly react to changing market conditions and respond to new fraud trends. New reporting technology with enhanced functionality also gives clients more ways to quickly and easily analyze data and monitor productivity. A redesigned case management system using an intuitive interface to the existing Falcon Scoring Engine -- which continues to provide the most effective fraud detection analytics -- allows users to streamline case handling and decisioning and process more cases per hour.