SINGAPORE, March 18, 2014 /PRNewswire/ -- FICO
(NYSE:FICO), a leading predictive analytics and decision management
software company, today announced that the Philippines' largest bank, BDO Unibank
(PSE: BDO), has selected FICO® Falcon® Fraud
Manager to help detect and reduce debit card fraud. The decision
will support the bank's strategy to introduce internet purchases
(card-not-present transactions) and protect ATM transactions for
its entire customer base of more than 13 million.
The Philippines has seen a rise
in payment card fraud over the last two years, coinciding with the
rapid growth of card adoption and usage. As a result, banks are
cautious about growing their card portfolios too quickly without
effective fraud controls in place. Earlier this year, BDO
implemented FICO® Falcon® Fraud Manager for
its credit card business, and is now extending a comparable level
of protection to its debit card users. The solution uses advanced
neural networks to analyze cardholder account transactions in
real-time to detect fraud.
"We're aiming for significantly increased purchase usage among
our debit cardholders. Our success will depend largely on our
ability to assure customers that they can use their cards, both
online and in stores, to make purchases in an easy, safe, and
secure manner," said Emmanuel
Narciso, executive vice president for consumer lending at
BDO. "With FICO Falcon Fraud Manager, we can accomplish both
and give our customers what other banks can't."
"By building its debit card program upon the industry's most
advanced fraud detection solution, BDO is backing its commitment to
protect its customers so they can safely enjoy the convenience of
their debit cards, just as they do their credit cards," said
Dan McConaghy, president for FICO in
Asia Pacific. "This is the key to profitable growth and among
the reasons why BDO remains a leader in the Philippines."
FICO fraud solutions help banks around the world manage their
enterprise fraud challenges. FICO® Falcon®
Fraud Manager, the world's leading card fraud management solution,
protects more than 2.5 billion payment cards worldwide. FICO
currently works with eight of the top ten banks in the Philippines to mitigate fraud risk, manage
credit risk, and grow their portfolios profitably.
About BDO
BDO is a full-service universal bank that provides a complete
array of industry-leading products and services to the retail and
corporate markets, including lending (corporate, middle market,
SME, and consumer), deposit-taking, foreign exchange, brokering,
trust and investments, credit cards, corporate cash management, and
remittances. Through its subsidiaries, the bank offers leasing and
financing, investment banking, private banking, bancassurance,
insurance brokerage, and stock brokerage services.
BDO has one of the largest distribution networks in the Philippines, with more than 800 operating
branches and over 2,200 ATMs nationwide as of end 2013. For more
information, please visit www.bdo.com.ph.
About FICO
FICO (NYSE: FICO) is a leading analytics software company,
helping businesses in 80+ countries make better decisions that
drive higher levels of growth, profitability and customer
satisfaction. The company's groundbreaking use of Big Data and
mathematical algorithms to predict consumer behavior has
transformed entire industries. FICO provides analytics software and
tools used across multiple industries to manage risk, fight fraud,
build more profitable customer relationships, optimize operations
and meet strict government regulations. Many of our products
reach industry-wide adoption. These include the
FICO® Score, the standard measure of consumer
credit risk in the United States.
FICO solutions leverage open-source standards and cloud computing
to maximize flexibility, speed deployment and reduce costs. The
company also helps millions of people manage their personal credit
health. FICO: Make every decision count™. Learn more at
www.fico.com.
For FICO news and media resources, visit www.fico.com/news.
Join the conversation on Twitter at @FICOnews_APAC
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SOURCE FICO
