Fair Isaac Corporation (NYSE:FIC), the leading provider of
analytics and decision management technology, and Aconite, a leading
provider of software and consulting solutions to the global payments
market, today announced they have joined forces to provide banks and
transaction processors worldwide with new capabilities to better
manage fraud and risk in an off-line EMV environment.
The announcement was made at Fair Isaac's InterACT customer
conference in Lisbon, where Aconite is co-presenting a session on the
evolution of fraud and risk management.
The companies will jointly market Fair Isaac's industry-leading
solutions Falcon(TM) Fraud Manager for payment card fraud detection
and TRIAD(TM) adaptive control system for credit risk management with
EMV Script Processor (ESP) and EMV Transaction Enabler (TRxE),
Aconite's award-winning EMV software solutions. Together, these
solutions create powerful new capabilities designed to help banks
adopt a balanced online/offline authorization policy, reduce
operational costs, minimize fraud losses, and increase revenue through
secure approval of more transactions and improved customer
satisfaction.
"This partnership reflects the strong demand for integrated EMV
solutions that provide full fraud and risk management capabilities,"
said Mike Woods, CEO of Aconite. "Together, we can offer our clients
the industry's most advanced solutions to fine-tune offline and online
authorization and maximize the benefits from offline authorization,
while minimizing credit risk."
Aconite's EMV solutions were designed to integrate easily with
existing host systems, allowing the generation, management and
delivery of scripts to change card parameters dynamically after issue
and securely manage offline risk. The Fair Isaac and Aconite solutions
can be easily combined with clients' existing systems as individual
advanced fraud and risk management solutions or as part of a broader
EMV migration package.
Named after its originators Europay, MasterCard and Visa, EMV
describes a set of requirements to ensure interoperability between
"smart" or chip-based payment cards and point-of-sale terminals on a
global basis. Through the partnership, card issuers will now be able
to harness the power of EMV, using Falcon and TRIAD decision
management and TRxE and ESP functionality to securely push more
transactions offline by dynamically updating and controlling card
behavior after issue.
"Joining forces with Aconite underscores our commitment to
continual innovation and bringing best-in-class technologies together
with our leading solutions for fraud and risk management," said Andrew
Jennings, vice president, Enterprise Decision Management Applications
at Fair Isaac. "Forward-thinking banks are already unlocking the
potential of EMV to grow revenues while controlling fraud losses and
the cost of managing the portfolio. Banks that utilize TRxE and ESP
with TRIAD and Falcon will multiply that potential and be on the fast
track to EMV migration."
The companies also plan to develop consulting services to help
customers migrate to EMV and achieve their risk management goals for
credit and debit card portfolios.
Fair Isaac's Falcon Fraud Manager is considered the leading global
payment card fraud detection system, protecting more than 450 million
active accounts across six continents and saving card issuers millions
of dollars every day. Falcon applies neural network technology,
extensive rule development capabilities and workflow management to
analyze payment card transactions for signs of fraud, and enables
financial institutions to take immediate measures to stop fraud and
reduce losses. TRIAD adaptive control system automates and improves
account and customer management decisions to drive portfolio
management performance and is used to manage nearly 300 card
portfolios across industries worldwide.
About Aconite
Aconite provides a unique blend of software solutions and smart
card business expertise to bank card issuers and card processors.
Aconite solutions can be tailored to meet individual business
requirements without the need to replace legacy systems and with
minimal impact on staff and processes. Within the last six years,
Aconite has become globally recognised as a leading provider of card
payment solutions and EMV expertise.
Aconite's software solutions combined with consulting expertise
and partnerships deliver business solutions which enable customers to
achieve cost-effective, low risk routes to issuing and processing EMV
cards and beyond. Based in the UK, Aconite has representation across
five regions: Europe, Middle East, Asia, The Americas and Southern
Africa. Further information about Aconite can be found on the Aconite
website at www.aconite.net.
About Fair Isaac
Fair Isaac (NYSE:FIC) makes decisions smarter. The company's
solutions and technologies for Enterprise Decision Management give
businesses the power to automate more processes, and apply more
intelligence to every customer interaction. Through increasing the
precision, consistency and agility of their decisions, Fair Isaac
clients worldwide increase sales, build customer value, cut fraud
losses, manage credit risk, reduce operational costs, meet changing
compliance demands and enter new markets more profitably. Founded in
1956, Fair Isaac powers hundreds of billions of decisions per year in
financial services, insurance, telecommunications, retail, consumer
branded goods, healthcare and the public sector. Fair Isaac also helps
millions of individuals manage their credit health through the
www.myfico.com website. Visit Fair Isaac online at 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 Falcon Fraud Manager and TRIAD adaptive
control system product offerings and the relationship described
herein, and the benefits to be derived from these offerings, 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 offerings, the risks that
customers will not perceive material benefits from the offerings,
failure of the products to deliver the expected results, the
possibility of errors or defects in the offerings, 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, 2006, and its quarterly report on Form 10-Q for the period ended
December 31, 2006. 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 and TRIAD 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.
