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January 16, 2019

FICO and Conductor team up to prevent card fraud in Brazil

Analytical software provider FICO has partnered with Brazilian electronic payments firm Conductor to reduce payment cards fraud in the country.

Under the arrangement, Conductor will use the artificial intelligence (AI)-based FICO Falcon Platform to protect credit cards processed by it.

The Falcon platform leverages Cognitive Fraud Analytics to detect fraud in real time. It does this by interpreting the behaviour of each individual, device, merchant, payee and channel associated with a transaction.

It can adapt to changes in fraud trends, and is designed to improve transactional fraud detection management for payment cards, deposits, debits, as well as electronic and mobile payments.

Globally, Falcon is said to protect a total of more than 2.6 billion payment cards.

FICO vice-president for Latin America Alexandre Graff said: “Falcon is an artificial intelligence solution based on dozens of machine learning patents that excel at detecting transactional fraud.

“Falcon models are based on the largest data fraud consortium in the world, the Falcon Intelligence Network.”

Conductor CEO Antonio Soares said: “With the FICO partnership, we are able to offer the most renowned and recognised anti-fraud solution in the market – both to issuers who already are our customers, and to those who are not and just wish to hire that service.”

Conductor will additionally provide omnichannel communication based on FICO Customer Communication Services, which is intended to mitigate false positives and enhance user experience.

The new services will include direct communication to the user, upon detection of abnormal behaviour, in order to confirm frauds.

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