Recently, global payment solution provider, Total System Services Inc. (TSS - Free Report) extended its alliance with the leading analytics software company, Fair Issac Corporation (FICO - Free Report) to receive fraud management services from the latter.
As per the deal, Fair Issac’s latest fraud management solution will be integrated with Total System’s PRIME card and merchant management solution. The latest version of Fair Issac’s fraud management solution is named FICO Falcon Fraud Manager 6.
Through the alliance between the companies, Falcon Fraud Manager Solution will be made available to Total System’s international licensed clients as a hosted service. The integrated fraud detecting solution controls fraud through the use of advanced analytic models. Another feature specific to this fraud detection tool is its ability to change by using adaptive models depending upon the change in fraud pattern.
Fair Issac, better known as FICO is well known for its analytics software and tools that help businesses manage risk, fight fraud, build profitable customer relationships and optimize growth. On the other hand, Georgia based Total System provides payment solutions that include issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions to financial institutions, businesses and governments worldwide.
With the integration of the Falcon Fraud Manager 6, Total System aims to provide its PRIME clients with high-end anti-fraud solutions that would in turn enable them to develop PRIME and maintain its international footprint. In the current alarming situation where fraud has vastly mushroomed, we consider the association of FICO’s advanced analytics with Total System’s card and merchant solutions to prove fruitful and help the company come up with competent and best in class operations going forward.
Total System currently carries a Zacks Rank #1 (Strong Buy). Among other financial services providers, Official Payments Holdings Inc. and MasterCard Incorporated (MA - Free Report) also share the same Zacks Rank and appear impressive.