Case Study: Leading North American Bank achieves 33% higher fraud detection and dramatically reduced false positives with FICO Falcon Fraud Manager

Leading bank improves accuracy, reduces false positives with FICO Falcon® Fraud Manager

A leading North American bank engaged FICO to evolve its fraud program and improve detection accuracy. An assessment showed the bank’s existing solution was less predictive than assumed and many decisioning rules didn’t use the fraud score, limiting trust in results and making rules management a daily challenge.

The bank piloted and implemented FICO Falcon Fraud Manager with FICO consulting; the neural-network–based solution increased fraud detection by 33%, dramatically reduced false positives, and improved account fraud performance from about 1,500:1 to more than 1,800:1. Analysts now trust the score more, more rules incorporate it, and the bank has been able to reallocate resources to tackle fraud across other products.