09 December 2008 News

 

Fair Isaac releases software early for concerned clients

Fair Isaac is releasing the Falcon Fraud Manager 6.0 scoring server to select customers who wish to begin development ahead of the product's general availability in the spring of 2009. The new version is said to have applied recent advances in fraud analytics and profiling in an attempt to help financial institutions quickly identify changing fraud patterns and minimise losses.

Data from Fair Isaac customers, combined with independent research, shows a measurable increase in certain types of fraud, notably cross-border and concentrated "flash fraud" attacks, as well as emerging patterns of fraud in card-not-present (online or telephone) and debit card transactions.

The Falcon 6.0 scoring server provides adaptive analytics, which are intended to allow real-time self-calibration of fraud detection models so institutions can identify and respond to new threats quickly.

The full version of Fair Isaac Falcon Fraud Manager 6.0 is scheduled to be generally available in the spring of 2009. In addition to the scoring server enhancements mentioned above, the new release will include enterprise case management, retail banking fraud detection, and rules management via integration with Fair Isaac Blaze Advisor.