hnc Archives • CardFlash® - Payment Card Industry News

Fair Isaac to Fight DoD Purchase Card Fraud

5, Country, Priority, UNITED STATESBy Robert McKinley 10/18/2007

Fair Isaac reports that the U.S. Department of Defense will utilize the company’s industry-leading fraud detection technology to deter misuse in its “Purchase Card Program.” The “DoD Purchase Card Program” enables authorized DoD personnel to purchase certain goods and services, such as office supplies and equipment, directly from private sector vendors. It is one of several charge card programs that the DoD operates to streamline business processes and reduce administrative costs. Under terms of the agreement, Fair Isaac will deliver a custom modified “Falcon Fraud Manager” solution in an ASP environment to help the DoD combat misuse of purchase cards. The custom fraud solution will analyze each authorization transaction using DoD-specific risk indicators.

First Data Resources Gets New SVP of Sales

5, Country, Priority, UNITED STATESBy Robert McKinley 04/05/2007

First Data has hired Kyle Thomas, former CEO of Global Chili/Chilly Co as SVP, Processing and Product Sales, for First Data Resources. Thomas was most recently CEO of Global Chili/Chilly Co., which he founded in 2004. Prior to this entrepreneurial venture, he was with Abacus, a division of Doubleclick, where he served as executive vice president and was responsible for product management, sales and marketing. Thomas’ career includes various senior management positions with HNC Software, ABN Amro Bank and Citibank, both in the United States and overseas. First Data is a leading provider of electronic commerce and payment solutions.

Global Analytics Hires Fair Isaac’s Crooks

5, Country, Priority, UNITED STATESBy Robert McKinley 02/20/2007

Global Analytics has hired Ted Crooks as VP of Business Development. Crooks specializes in inventing and leading development of fraud solutions. Previously a VP at Global Fraud Solutions for Fair Isaac Corporation, Crooks rejoins former colleagues from HNC Software which was acquired by Fair Isaac in 2003 to become its fraud organization. Crooks will continue to work on new fraud challenges, but will also spend considerable effort on improving entrepreneurial credit systems in developing economies and credit expansion to the under-served. Global Analytics applies mathematics and artificial intelligence to solve problems for business, education and government.

Pay By Touch Adds Two Credit Executives

5, Country, Priority, UNITED STATESBy Robert McKinley 02/16/2006

San Francisco-based Pay By Touch has hired Drew Hyatt as SVP and Elizabeth Yata as VP/Group Product Manager to lead its banking and credit authorization services. Hyatt was president of HNC Software’s Financial Solutions Group and SVP and corporate officer of Digital Insight. Yata was formerly with Bank of America, holding numerous product management positions including VP and group product manager for both retail and wholesale banking services. Prior to BofA, Yata spent nine years in various roles at VISA USA, including SVP of service management. In January the firm closed more than $60 million in new financing, raising more than $190 million during the past three months. (CF Library 1/27/06)

Tonnesen to Become CEO of Triad Guaranty

5, Country, Priority, UNITED STATESBy Robert McKinley 09/13/2005

Mark Tonnesen, formerly a top executive at Royal Bank of Canada and Banc One, has been named President and CEO of NC-based Triad Guaranty, a nationwide mortgage insurer. Mr. Tonnesen comes to Triad with over 20 years of senior management experience in the financial services and banking industry. Tonnesen is a graduate of the University of Pittsburgh where he received an MBA in 1974. Triad Guaranty Insurance Corporation, a wholly owned subsidiary of Triad Guaranty Inc., is a nationwide mortgage insurer providing mortgage insurance to residential mortgage lenders.

RBS Buys Lynk Systems for $525MM in Cash

5, Country, Priority, UNITED STATESBy Robert McKinley 08/04/2004

Privately-held, Atlanta-based Lynk Systems is being purchased by Royal Bank of Scotland through its US-based Citizens Financial Group for $525 million in cash. Lynk, a top merchant processor and acquirer, handles $18 billion in charge volume and 400 million transactions annually. The Company services approximately 100,000 merchants. Lynk also provides processing services for 25,000 ATM’s located throughout the USA representing $6 billion dispensed and 120 million transactions annually. The Company was founded in 1991 and has more than 950 employees. Financial Technology Partners and FTP Securities exclusively represented Lynk Systems in the pending sale to RBS. Lynk was a customer of Citizens Financial. Atlanta-based Arnall Golden & Gregory served as Lynk’s legal advisor.

Lynk Transaction Historical
2000: 124 million
2001: 155 million
2002: 208 million
2003: 282 million
2004: 400 million
Source: CardData (www.carddata.com)

Fair Isaac 3Q Revenues Up Nearly 25%

5, Country, Priority, UNITED STATESBy Robert McKinley 11/04/2003

Fair Isaac reported that revenues for the quarter ending September 30th increased 24.5% to $161 million compared to the same year-ago period. Net income for the quarter totaled $31.7 million, compared with a net loss of $24.2 million in 3Q/02. The Company’s Scoring Solutions business posted a small gain in revenues from $33.5 million in 3Q/02 to $34.5 million for the current third calendar quarter. Strategy Machine Solutions revenues were up 37.5% to $96.6 million. The Professional Services segment was flat at $21.6 million, compared to one-year ago. Revenues for Fair Isaac’s Analytic Software Tools business more than doubled to $8.2 million. During the quarter, Fair Isaac released “Decision Optimizer 5.0” and recently launched “ID Fraud Intercept,” a new online consumer service. Also during the quarter, Fair Isaac acquired CO-based NAREX, a specialist in analytic solutions for collections and recovery, for $10 million cash. In early October, the Company announced it has also acquired CO-based Seurat Company, a precision marketing outsourcing firm. For complete details on Fair Isaac’s third calendar quarter performance visit CardData ([www.carddata.com][1]). (CF Library 7/29/03; 9/3/03; 10/7/03; 10/9/03)

[1]: http://www.carddata.com

Intelligent Results Grabs Former HNC Relationship Manager

5, Country, Priority, UNITED STATESBy Robert McKinley 09/17/2003

WA-based Intelligent Results has hired Kathleen Carroll, formerly Global Relationship Manager at HNC Software, as Director, Relationship Management.

Fair Isaac Buys NAREX for $10MM

5, Country, Priority, UNITED STATESBy Robert McKinley 07/29/2003

Fair Isaac is acquiring CO-based NAREX, a specialist in analytic solutions for collections and recovery, for $10 million cash. Fair Isaac says NAREX’s solutions and expertise will give the Company the added ability to drive businesses’ late-stage collection and recovery strategies. The NAREX operation will continue to operate from its Golden, CO, location under the Fair Isaac name, operating within Fair Isaac’s Global Account Management Solutions division. Using artificial intelligence-based, proprietary technologies, NAREX builds custom and non-custom scoring solutions, optimization models, debt evaluation services, and other offerings to improve collections and recovery results. In 2002, NAREX introduced “UniScore,” a complete Web-based score package that prioritizes accounts for optimum recovery performance.

Fair Isaac’s Profits Double in 2Q/03

5, Country, Priority, UNITED STATESBy Robert McKinley 07/24/2003

Fair Isaac reported second quarter revenues of $163.0 million, a 79% increase over 2Q/02, lead by explosive growth in Strategy Machine Solutions. Net income for the quarter was $30.0 million, compared with $14.4 million, in the same quarter last year. Scoring Solutions revenues for the quarter were $34.5 million, 2% gain over the same year-ago quarter. Strategy Machine Solutions increased 144%, from $39.9 million in 2Q/02, to $97.4 million in 2Q/03. Professional Services revenues were up 57% to $21.9 million. Analytic Software Tools revenues increased 162%, from $3.5 million to $9.2 million during the quarter. For complete details on Fair Isaac’s 2Q/03 results visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

HSBC STRATEGY SCIENCE

5, Country, Priority, UNITED KINGDOMBy Robert McKinley 07/10/2003

HSBC Bank plc has signed as the first client to implement Fair Isaac’s new “Strategy Science for Fraud Referral.” Fair Isaac says the new strategy development solution will provide HSBC with unprecedented fraud control for its credit card portfolio while increasing approved transactions and improving cardholder experience. Until now, strategies used to decide when to refer a transaction at the point of sale for further cardholder verification or investigation have been developed on a largely judgmental basis or with the aid of ad-hoc data analysis. Transactions that have been flagged incorrectly for further investigation result in higher operational costs, inconvenienced customers, and lost opportunities for
legitimate sales. “Strategy Science for Fraud Referral” is the company’s third fraud management solution that complements its “Falcon” fraud
detection software, joining “Fraud Predictor with Merchant Profiles” and Fair Isaac “Fraud Consulting” services.

HSBC Opts for Strategy Science for Fraud Referral

5, Country, Priority, UNITED STATESBy Robert McKinley 07/09/2003

HSBC Bank has signed as the first client to implement Fair Isaac’s new “Strategy Science for Fraud Referral. The strategy development solution will provide the global financial services organization with unprecedented fraud control for its credit card portfolio while increasing approved transactions and improving cardholder experience. A typical fraud referral strategy today impacts more than $60 in non-fraudulent transactions for every $1 of fraud captured.

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