HNC Telecommunications Solutions, a division of HNC Software Inc., announced the availability of its telecom-specific version of the eFalcon Fraud Risk Management Service to communication service providers worldwide.
As carriers increasingly allow customers to pay for services with credit cards, eFalcon can increase carrier profits by reducing lost revenues from charge-backs and by saving valid orders that appear risky.
The telecom-specific version of eFalcon uncovers payment fraud patterns in real time, protecting both consumers and businesses from unauthorized use of credit card numbers. eFalcon is the only solution to provide strategy management and customer service tools to help businesses accepting electronic credit card orders (card-not-present, or CNP, transactions) to save those transactions that appear risky, but are indeed legitimate. Companies that implement eFalcon can also set policies for accepting and rejecting transactions on a global scale, resulting in increased profits and better customer relationships.
HNC offers intelligent payment fraud detection and risk management services that enable telecom carriers to detect credit card fraud in the account pre-activation stage of customer acquisition.
“As carriers introduce new prepaid service plans and flexible credit card payment options over the Internet, they are getting hit hard with credit card fraud. Not only are they liable for losses, carriers with excessive chargebacks can even lose the right to accept credit cards. eFalcon minimizes losses and ensures that carriers can rely upon credit cards — a required payment option in today’s competitive marketplace,” said Tony Patterson, president, HNC Telecommunications.
Carriers can experience CNP fraud when accepting bankcards for pre-activation through multiple sales channels including the Internet and email, voice response units (VRUs) that accept credit card numbers keyed on touch-tone phone dial pads, traditional call centers, and faxed applications for service.
eFalcon is able to recognize the most subtle patterns associated with CNP fraud often missed by less advanced methods of fraud detection. eFalcon uses some of the same advanced technology as HNC’s credit card fraud detection solution for card issuers, Falcon(TM), which protects more than 300 million cardholders today. Falcon is used by nine of the top 10 largest Visa and MasterCard credit card issuers in the U.S., and 15 of the 25 largest bankcard issuers worldwide.
About HNC Telecommunications Solutions
HNC Telecommunications Solutions, a division of HNC Software Inc. (Nasdaq:HNCS) provides end-to-end customer solutions to over 80 wireline and wireless communications service providers that maximize the value of individual customer relationships from acquisition to retention. Carriers using HNC’s telecom solutions include Telefonica Mundo 188, S.A., Telecom Personal, AT&T Local Services; VoiceStream Wireless; Intermedia Communications; Viatel; and Sprint Communications. For more information, visit HNC Telecommunications Solutions at the HNC Web site at [http://www.hnc.com] or contact Kim Knouse at 858/799-3600.
About HNC Software Inc.
Headquartered in San Diego, HNC Software is the leading provider of predictive software solutions for the services industry, including financial, telecommunications, insurance and e-commerce. HNC’s suite of predictive software solutions can provide real-time insight into customer relationships based on transaction-level data, helping companies manage their relationships with individual customers. By accurately predicting customer behaviors, these companies can create initiatives to mitigate risk and attrition; improve customer service; develop marketing programs to enhance profitability, and detect fraudulent customer transactions. For more information, visit HNC’s Web site at [http://www.hnc.com] or contact Melinda Bateman, HNC Software Inc., 5935 Cornerstone Court West, San Diego, CA 92121, 858/799-3880.