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Fair Isaac and IBM Team to Fight "Creep"
Fair Isaac Corporation and IBM recently announced a partnership to offer new services to banks designed to help them fight fraud enterprise-wide instead of relying on the more traditional method of fighting by product line.
The joint initiative aligns risk management strategies and consulting services from IBM with Fair Isaac's analytic fraud management products. The result will be a service that will allow financial institutions to fight the rapid spread of fraud that occurs when a criminal uses one banking product to access a customer's total banking relationship (a practice nicknamed creep).
It combines the analytic, data-based platform of Fair Isaac's Falcon One services with IBM's Business Consulting Services. Fair Isaac fraud consultants will partner with their counterparts at IBM to help clients evaluate the scope of their fraud problems, then design and implement a solution that will attack the problems across the board. Falcon One uses a set of detection factors, and case management and analytic capabilities to find multiple types of customer and account fraud. IBM's consulting arm provides business process and industry expertise designed to add value to the bottom line.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 10, 10/05
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