Falcon Transfer was created by expanding on the capabilities of Fair Isaac’s Falcon Fraud Manager, which monitors over 1.5 billion active payment cards worldwide. Fair Isaac’s modeling technology supports rapid data analysis and non-linear modeling transactions to spot anomalies in behaviour which could point to fraud. Falcon Transfer also reviews both the sender’s and receiver’s account profile. If it detects signs of fraud, a bank can stop the payment immediately and send it to a fraud analyst for review.UK Faster Payments (FPS) is a banking initiative in the UK run by APACS to improve the speed of low value person to person or business to business payments to near real time. To date, 13 banks and building societies, accounting for over 97 percent of the UK’s existent payments traffic, are committed to the new service. The new infrastructure for FPS will officially launch on the 27 May 2008.
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