FICO will use AI-powered technology from global analytics software leader FICO to better identify fraudulent account openings. FICO®? Platform's capabilities for model development, identity resolution, streaming data and service orchestration will help Entercard, one of the leading Nordic finance companies, build and deploy powerful fraud scorecards, confirm applicants' true identities through advanced network link analysis and detect fraudulent applications.
Using FICO's powerful tools, Entercard can enhance their ability to target a variety of criminal activity such as: Synthetic identity fraud - e.g., fake profiles built over time. First-party fraud - intentional misrepresentation by genuine applicants. Mule detection - accounts opened to facilitate fraud.
ID theft /impersonation - fraudsters applying using stolen identity information. Application velocity checks - tracking multiple applications in short timeframes. Bust-out fraud - identifying intent to default from account opening.
FICO®? Platform uses data, analytics, AI, and optimization to continuously improve decisions, customer interactions, and risk management at scale across the enterprise. The platform is designed to empower enterprises to break down silos across teams and empower employees to achieve customer-focused digital transformation, while giving enterprises greater agility and collaboration.
