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Digital Identity, Security & Online Fraud

FICO launches new proximity correlation service for credit and debit card issuers

Wednesday 6 November 2013 | 09:22 AM CET

FICO, a predictive analytics and decision management software company, has launched a new technology that correlates locations of mobile phone and card transaction for safety of payment card transactions.

The FICO Proximity Location Service, part of FICO Fraud Resolution Manager, compares the physical location of a cardholder's registered mobile phone against the location of the ATM or point-of-sale terminal where the card is being used. Based on the proximity, a cardholder account can be blocked or cleared for further activity.

FICO Fraud Resolution Manager is an automated, two-way communications service that processes fraud cases by leveraging data assessment, decision management and customer intervention. FICO Fraud Resolution Manager can be integrated with FICO FalconFraud Manager, a platform for credit fraud management.

In recent news, FICO has signed an agreement with Cloudera, a provider of enterprise-grade Apache Hadoop data management software, support services and training, to provide a Big Data platform for the FICO Analytic Cloud, an environment for creating, customising and deploying analytics-driven applications and services.

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