Fraud in credit card is a growing problem in Brazil. There is one fraud attempt every 15 seconds, and credit card fraud losses totaled US$500 million in 2012. In addition, card fraud attempts rose 2.4 percent in the first five months of 2013 over the same period in 2012.
"As the company charged with managing several of Brazil's most popular cards, we give customer protection the highest priority," said AJ Bueno, head of sales for TSYS Brazil. "FICO's advanced fraud prevention technologies and unmatched business expertise will help us guarantee a positive experience for our clients' cardholders."
FICO Falcon Fraud Manager is the industry's most accurate and comprehensive solution for detecting payment fraud, reducing losses by up to 50 percent. Protecting more than 2.5 billion payment accounts worldwide, Falcon Fraud Manager detects fraud while minimizing both operational costs and adverse customer impacts.
"Our service to TSYS is built on a very strong alliance created with the satisfaction of our clients' customers in mind," said Robert Duque-Ribeiro, vice president and general manager of Latin America and the Caribbean for FICO. "TSYS and FICO have offered Falcon as a hosted service in other countries since 1998 and are pleased to make this available now for TSYS clients in Brazil. Together, we will protect TSYS customers and help lenders, retailers and other card issuers in Brazil detect more fraud and substantially reduce losses in a fast-paced market."
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered PaymentsSM." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS' headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.
FICO (NYSE: FICO), formerly known as Fair Isaac, is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption — such as the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. Learn more at www.fico.com. FICO: Make every decision count™. For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012 and its last quarterly report on Form 10-Q for the period ended June 30, 2013. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO, Falcon and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the US and other countries.