To Boost Customer Centricity, Focus on Your High Spenders

Many banks have automated rules in place that decline card transactions indicative of high fraud risk. In so doing, they block a large portion of fraudulent transactions. But they are also declining legitimate purchases from high-spending cardholders, who may decide to take their card business elsewhere. A FICO study found...

Debt Collection Horror Stories

Last week, CNNMoney published the attention-grabbing “Debt collection horror stories.” While these stories are the extreme and not the norm, it's nevertheless clear that past C&R strategies may no longer work. Brute force and hard negotiation skills are outdated, and your institution’s image is at risk. Increasingly, customers use social...

Reducing the Impact of Card-Not-Present Fraud

The internet has opened up virtually unlimited opportunities for entrepreneurs and zealous shoppers alike. On the flip side, it unfortunately has also opened up opportunities for crooks, especially credit card thieves. Recent fraud trends show card-not-present (CNP) fraud—and predominantly online fraud—taking up an increasingly greater percentage of total credit card...

Dynamic Detection for the Global Fraud Fight

Those of you who follow this blog know that I regularly discuss analytic innovations that boost fraud detection. One such innovation is adaptive analytics, so-called because these models continually "adapt" traditional neural network fraud models in response to real-time fraud tactics that were not present at the time of model...

Join Us For FICO World 2013

How are companies using Big Data analytics to understand and collaborate with today’s connected consumer? Join us at FICO World 2013 to discover answers from experts and network with your banking peers. Registration is now open for the conference, which will be held April 30-May 3 in Miami. FICO World...

Can Fraud Alerts Raise Customer Loyalty?

For most people, being contacted by a bank about potential fraud isn't a wonderful experience—but it can be if it’s managed in a timely, personalized manner. In fact, customers of a UK banking client consistently point to fraud intervention as a "golden moment" of customer service in the organization's quarterly...

Stealing Some Magic From Retailers

My last post talked about a recent project to set customer-level limits for a major European bank. By understanding activity from across a range of products, the bank can better assess the degree to which it's willing to lend and how to allocate available credit between different products. This is...

Setting Customer-Level Limits Across Products

Full-service retail banks have long known that one possible strategy to competitive advantage lies in making better use of their data—and in particular, data aggregated to the customer level. As a case in point, I'll share a few details from a successful proof of concept project we completed for a...

FICO Award Winners Demonstrate How Analytics Fuels Success

If you’re looking for evidence of how predictive analytics and decision management technology can transform business results, you can start with the winners of the 2012 FICO Decision Management Awards. Fiserv, Interbank, President’s Choice and insurer Universal American were named winners of our second set of awards today. For more...

Putting Some “Wow” Into the War on Fraud

Coming hot on the heels of the announcement of FICO's acquisition of Adeptra, the Asia Pacific Heads of Fraud conference in Phuket recently featured a demonstration of how FICO and Adeptra solutions bring new power to the fight against fraud. More than 20 banks from places as diverse as India,...