from DSSResources.comFair Isaac introduces Falcon One System to combat fraud at every customer interactionORLANDO, Fla., Card Forum & Expo, May 5, 2005--Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, announced today the release and immediate availability of the Falcon One(TM) system, a new enterprise software solution for effectively combating both existing and emerging types of fraud at every customer touchpoint. Falcon One is the latest advancement of Fair Isaac's industry-standard analytic technologies for detecting fraud and identity theft. The Falcon One system helps financial institutions address every type of customer and account fraud within an organization through a configurable set of detection, case management and analytic capabilities. A unified, flexible infrastructure enables multiple fraud solutions across different channels and lines of business to work together, sharing data and system services to deliver unprecedented levels of fraud protection. Credit issuers can enhance existing fraud technology investments or add new solutions to detect and stop new types of fraud faster, while minimizing the impact on customers. "With the complexity of the current business environment and the growing sophistication of fraud perpetrators, gaining control of fraud losses requires an enterprise-wide approach," said Ted Crooks, vice president of Fraud Protection Solutions at Fair Isaac. "Incorporating the Fair Isaac fraud technology that protects two-thirds of the world's credit cards today, the Falcon One system provides financial services providers with essential connections and flexibility to reduce the impact of fraud at every point of customer contact." The Falcon One system leverages Fair Isaac's market-leading Falcon(TM) technology, which has been successfully used to fight fraud for 15 years and includes the company's patented neural network models and profiling technology. Fair Isaac currently offers several key solutions within the Falcon One infrastructure, including Falcon(TM) Fraud Manager for credit card and debit card transaction fraud, and Falcon(TM) ID solution for identity fraud protection. These solutions can be deployed individually to address a particular fraud type, or in combination to achieve an additional lift in fraud detection power. "Fair Isaac's Falcon One platform simplifies the management of a very complex problem within financial institutions -- the ever-changing nature of fraud," said Sophie Louvel, analyst at Financial Insights. "The traditional approach to fraud will not work against new fraud schemes that emerge on a daily basis. Improved collaboration between bank departments will help banks respond more quickly to new fraud schemes, further reducing the risk of loss." Credit grantors can leverage their existing fraud management technology and resource investment -- such as an existing check fraud solution -- across the enterprise to help reduce operational costs and maximize return on investment. In addition, custom fraud detection solutions can be built using the credit grantor's data to address any fraud type, including demand deposit account/current account fraud, online banking fraud, phishing, mortgage fraud, bust-out and internal/employee fraud. Each Falcon One solution includes a detection component, which determines the likelihood that a particular activity is fraudulent and provides a fraud score, and a case management component, which guides the analyst through a consistent review process to help resolve suspected fraud cases. The Falcon One infrastructure offers several additional services, including dynamic data optimization, real-time data sharing and continually updated profiling of customers, merchants and institutions. These services provide lenders with the most current data for their fraud management system and guard against misuse of account and identity data before losses mount. About Fair Isaac Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations and government agencies. Through the www.myFICO.com Web site, consumers use the company's FICO(R) scores, the standard measure of credit risk, to manage their financial health. For more information, visit www.fairisaac.com. Statement Concerning Forward-Looking Information Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its new Falcon One product offering, and the benefits to be derived from this offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2004, and quarterly report on Form 10-Q for the period ended December 31, 2004. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements. Fair Isaac, Falcon One, Falcon and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be the trademarks of their respective owners. John Emerick, 800-213-5542 (Investors & Analysts) investor@fairisaac.com Angela Carlson, 415-492-5373 (Media) acarlson@fairisaac.com |