NCR released the latest version of its Fractals enterprise fraud detection solution, which delivers new eBanking fraud detection, powerful new fraud management features and an enhanced user interface. This new release incorporates many additions built in response to requests from the Fractals customer base.
ReD fraud prevention and payment services announced Wright Express corporate and prepaid payment solutions has signed an agreement to utilize ReD’s enterprise fraud prevention service. The established fleet and fuel card company has incorporated ReD PRISM® as a supporting tool to its in-house fraud initiatives. ReD PRISM uses predictive analytics and neural modelling technologies to score the likelihood of a transaction being fraudulent. The combination of custom scoring and dynamic rules assists client companies in identifying likely fraudulent transactions before they occur, thereby reducing overall fraud losses.
Krung Thai Bank has selected Fiserv for asset/liability, market risk, interest rate risk, foreign exchange risk and daily bank-wide liquidity risk management. Krung Thai Bank chose Fiserv thanks its Risk and Compliance solutions, which help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions. Fiserv is ranked #1 in North America and #4 overall in the annual Chartis RiskTech 100TM.
Fico released its “Model Builder 7.2,” allowing analytic developers to rapidly discover, design and deploy predictive analytics for high-volume decisions. This includes new capabilities to develop and deploy optimised suites of segmented ensemble models. These advancements enable companies to improve the productivity of analytic staff, make more profitable decisions based on more precise risk estimates and ultimately shorten time to value and increase return on investment. The FICO “Model Builder 7.2” automates the discovery of optimal segmentation schemes and accelerating the refinement of subpopulation models to compare different ways of segmenting the population. It features a revamped segmentation discovery algorithm that improves runtime, scalability and accuracy, while giving analysts unprecedented control to manage and direct their search for the most powerful segmentation scheme.
Alaric International forged agreements with Cuscal transactional and wholesale financial services provider to the mutual and independent banking sector. To improve transaction capabilities for its customers, Cuscal is migrating to an intelligent in-house payments model and has selected Alaric International, a leading supplier of advanced technology payments products and services. The full deployment of Alaric’s services to Cuscal, which commenced in December 2010, comprises two world leading applications – the Authentic payments platform and Fractals, an advanced fraud detection engine. Focused on uniting payments processing with fraud detection, Alaric will allow Cuscal customers to compete more effectively with major banks in the fast moving Australian payments industry. Authentic is being used to drive the Cuscal-owned ATMs within the RediATM national ATM network, issue and authorise a large portfolio of scheme and proprietary debit cards, provide back office integration to a large number of banking host systems, connect to the card schemes and into the rest of the Australian payments landscape.
Fico analytics and decision management technology announced the Ferratum Group mobile microlending is set to implement “Model Builder 7.1” to develop more than 100 predictive models to support its growth in 15 countries over the next two years. Ferratum provides short-term, unsecured microloans to borrowers across 15 countries, serving up to 1 million customers worldwide. Ferratum’s modelling team will use FICO Model Builder to build different models for different products and countries, and will explore creating models for different sales channels. The demand to build a high volume of models with a small team drove the selection process, in which FICO Model Builder beat products from SAS and other competitors.
Alaric international fraud prevention and payments software provider announced Travelex foreign exchange company has deployed Alaric’s ‘Fractals’ payments fraud detection platform in Sydney. Travelex’s Dynamic Currency Conversion (DCC) service permits international cardholders to be charged in their local currency when purchasing goods and services. An essential part of its merchant service offering is the ability to accurately detect potentially fraudulent activity in real-time on the merchant network. Travelex turned to Alaric to deliver its ‘Fractals’ fraud detection platform to monitor all merchant traffic and raise instant alerts on suspicious activity.
Level Four has launched its next generation industry-leading automated ATM software testing solutions with updates to its “BRIDGE:test,” “Regression Test Manager” (RTM) and “ATM Developer” products. These updates let banks create and run a greater number of tests more rapidly, therefore maintaining higher levels of ATM uptime for consumers while reducing the time and cost invested for banks. Changes include several changes to the hardware device modelling layer, a refreshed user interface and some significant changes to Regression Test Manager.
Fico analytics and decision management technology has made available its the “Credit Line Optimisation Starter Kit” for credit line optimisation (CLO). Bundled with the industry-leading Fico Triad Customer Manager to help card issuers apply analytic precision to credit line increase strategies, the “Credit Line Optimisation Starter Kit” allows clients to take their TRIAD credit line increase strategies to the next level of performance, find opportunities for responsible profitable growth and control losses while making the best use of limited exposure. Specifically designed to enable card issuers to develop more profitable strategies in the regulated environment, the starter kit can produce an optimised strategy 3-9 months faster than building your own solution with an optimisation tool. Already integrated by TSYS, the kit can be easily integrated into TRIAD, used to manage about two-thirds of credit card accounts.
The National Customer Satisfaction Index (NCSI-UK) dropped for a second
straight quarter to 72.8 on a 100-point scale as a direct result of an
overall loss of customer satisfaction in the financial services sector.
Only 32% of individual companies have improved NCSI scores this year,
50% declined and 18% are unchanged while declining customer satisfaction
are increasingly unsatisfied with the retail banking and credit card
services sectors. The credit card industry slipped 1% to a score of 72,
thanks especially to RSB and Lloyds TSB, while HSBC leads by a
substantial margin with a score of 73 and Barclays is the only credit
card provider to improve (up 1% to 69). The highest customer
satisfaction levels were seen among customers of smaller credit card
issuers. Customer satisfaction with the retail banking industry fell
1.4% to a score of 70 with HSBC at #1 among big retail banks and RBS
Group posting the biggest decline of 3% to a score of 69.
Altair Financial Services International has launched the MasterCard “Expert
Monitoring System” (“EMS”) product suite using the Brighterion’s iPrevent
fraud prevention engine. This solution is intended to prevent fraud and
enhance card security for the browser-based EMS technologies platform.
Overall, with this development, Altair will be able to enhance fraud
profiling, data mining, and management information reporting. Moreover,
these new measures can collectively detect fraud almost immediately with
Brighterion’s “iPrevent”. The “iPrevent” software provides a real-time
scoring platform to allow the company’s fraud manager to refer or decline
Experian has announce its 65% acquisition in Serasa Brazilian credit
bureau from a consortium of banks for R$2.32 billion. The Experian
share is to increase to 70% over the next 6 months and is slated for
completion in June of 2008. With this development, Experian will control
60% of total credit bureau reporting around the world and allow the
company to capitalize on Brazil’s rapid growth. Compounding these
highlights, Serasa brings with it the largest consumer and commercial
credit bureau in the country with a 60% market share allowing Experian
to build on the platform to deliver products from its portfolio.
Serasa has demonstrated its growth at over 20% per annum for each of the
past two years with EBIT margins of over 20%. Experian does not expect to
see any financial gains with the acquisition for the first year but does
a cash benefit from tax relief on the goodwill generated by this
of R$70m-R$100m per annum for the next seven years. Finally, to remain
The President of Serasa will be Elcio Anibal de Lucca after the acquisition