These new Falcon consortium models for both credit and debit cards will be available first for FICO Falcon Platform customers in the UK and Europe in the fall of 2017, and then to customers in other markets worldwide.
The Falcon consortium, a pool of anonymised transaction details collected from 9,000 financial institutions worldwide, allows FICO data scientists to test and prove the performance of new models prior to release. Developed based on analysis of 4 billion transactions, these new CNP machine learning models aims to cut CNP fraud losses, reduce CNP transaction review rates without increasing fraud risk and to boost the detection of fraudulent CNP transactions on the first attempted transaction.
FICO is an analytics software company, which provides services for individuals and businesses. FICO holds more than 165 US and foreign patents.
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