Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced its category sponsorship of The Card Awards 2008 at the company's EMEA Falcon User Group in London.
The Card Awards, which launched the Call for Entries this week, recognise innovation, best practice and customer excellence in the card payment industry in the United Kingdom and Republic of Ireland. Fair Isaac is sponsoring the "Best Security or Anti-Fraud Development" category and will present a trophy to the winner at the Awards Ceremony on 31st January 2008 at The Grosvenor House Hotel in London. For this category, an independent judging panel will review entries from issuers of credit, debit, pre-paid or charge cards and banking acquirers who have developed innovative solutions that either have improved the security of customers' transactions at any stage of the payment process, or have protected the customer from internet and other customer-not-present fraud, identity theft, and card interception.
"The UK and Irish card markets have become more challenging than ever before, and the emergence of new technology and its application is providing fresh opportunities to all sides of the payment card industry," said Martin Fielding, CEO of The Card Awards. "The Card Awards give the industry the opportunity to showcase examples of responsible practices and outstanding performance. Category support from industry leaders such as Fair Isaac demonstrates the industry's desire to recognise these achievements within one of the most dynamic sectors in Europe."
Fair Isaac has worked with leading card issuers throughout the UK to help them achieve the full potential of their fraud management programs.
The company's global fraud detection products and services include advanced analytic technologies, consulting services and fraud reduction partnerships. As the leading global fraud detection solution, Fair Isaac's Falcon(tm) Fraud Manager minimises fraud losses by predicting the likelihood that a transaction is fraudulent. It analyses transactions in real time and generates recommendations for immediate action, which is critical to stopping fraud at an early stage, often before the cardholder knows that a card has been compromised. Falcon currently protects nearly 900 million payment cards worldwide from fraud.
Today Fair Isaac kicked off its biannual EMEA Falcon User Group Forum for organisations that utilise Falcon to detect and prevent fraud and deliver fraud protection to their customers. The two-day forum at the Hilton London Tower Bridge Hotel provides attendees with valuable insight into how they can derive full value of their investment in Falcon and make the best use of strategies to improve performance. Fair Isaac experts also will share best practices for fraud management and the company's latest innovations to the Falcon system.
"We welcome the chance to share our experiences of Falcon with Fair Isaac and with fellow users, and to learn more about Fair Isaac's future product development," said Gordon McFadyen, Manager, Fraud Prevention at HBOS Card Services.
"Leading financial institutions in the UK realize that implementing industry best practices and proven solutions will substantially curb fraud and allow them to significantly reduce their losses," said Tony Zarrella, vice president of Global Fraud Solutions at Fair Isaac. "Fair Isaac is deeply committed to providing card issuers with the most innovative and advanced fraud detection solutions available. We look forward to empowering our clients with deeper knowledge of Falcon to help them drive competitively superior results. And we are delighted to be associated with a prestigious industry event such as The Card Awards that helps shape the future of fraud risk management."