PULSE, a US-based electronic funds transfer company, has extended its partnership on debit fraud detection with analytics software provider FICO.
Both parties collaborate to offer fraud-detection technology for decreasing losses and risk exposure for financial organisations, merchants, and consumers across the globe.
According to PULSE, the extension of the partnership will help the company to improve its DebitProtect suite of advanced fraud-mitigation solutions which is powered by the FICO Falcon Fraud Manager.
The company’s network-level deployment of Falcon Fraud Manager is said to incorporate insights from its 9,000 participating financial firms.
Besides, the organisations leveraging the DebitProtect and DebitProtect Authorization Blocking solutions for fraud alerts and automated authorisation blocking, respectively, are said to benefit from the data pool.
PULSE operations executive vice president Jim Lerdal said: “Our enhanced fraud-detection and blocking capabilities have become more important than ever with the Federal Reserve’s Regulation II clarification expected to shift more card-not-present transaction volume to unaffiliated debit networks such as PULSE.
“Extending our close partnership with FICO enables us to continue enhancing our ability to prevent and respond to the latest trends in debit fraud.”
PULSE has also implemented FICO’s fraud model for separating card-not-present transactions from card-present transactions.
The improved scoring helps to enhance the network’s capacity to detect fraudulent transactions in e-commerce and other card-not-present channels, said PULSE, which is owned by Discover Financial Services.
FICO fraud vice president Adam Davie said: “PULSE and FICO have outstanding, innovative teams and are constantly adapting to provide tools financial institutions can use to mitigate evolving security risks.
“Our Falcon Fraud Manager model benefits from the fraud learnings fed into it from PULSE’s large network of debit card issuers. We look forward to continuing to collaborate with PULSE to protect all debit stakeholders.”
In May 2023, multi-cloud data platform Teradata and FICO partnered to introduce integrated analytic solutions for real-time payments fraud, supply chain optimisation, and insurance claims.
