Analytic models are very well suited for the task of detecting fraudulent transactions in large databases and high-volume transaction streams. Although fraud patterns are often similar to valid patterns, they can be accurately identified through careful model design. Principals of Global Analytics led the development of the world's first neural-network based fraud detection solution, the Falcon Fraud Manager ®, now owned, sold, maintained and improved by Fair Isaac Corporation. This solution is now the industry standard for payment card fraud detection and stands as one of the most successful analytic solutions ever deployed.
With the right design and choice of technology, analytic solutions can be deployed to make real-time decisions in very high volume transaction processes. By creating a profile of the behavior patterns of every cardholder, the analytic models can identify patterns that are suspicious departures from the cardholder's typical buying behavior.
Falcon Fraud Manager ® is a registered trademark of Fair Isaac Corporation in the United States and other countries.
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