ONTARIO, Calif. – The Falcon fraud prevention program, previously only available for credit and debit transactions in which a cardholder uses their signature to authorize their card transactions, is now available for transactions in which cardholders use a personal identification number, according to CO-OP Network. In addition, the nation's largest credit union owned, fee-free ATM network reported that the fraud prevention system has begun working on its network as well. Developed by Fair, Isaac and Company Inc., a leading provider of creative analytic technology, Falcon Fraud Manager prevents losses by calculating and assigning scores to incoming transactions using data-modeling and individual member history profiles, CO-OP explained. "Since the core of our business is in processing, we always look to employ the latest technology to protect cardholder transactions," said CO-OP senior vice president Jim Hanisch. "Our upgraded Falcon Fraud Manager system now protects ATM cards and PIN-based activity with the same superior fraud detection capabilities we previously offered for signature-based debit, making member credit unions less vulnerable to all forms of card fraud. I think the improvement of this product is a perfect example of CO-OP Network's continuing commitment to technology."

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.