Entercard, a prominent Nordic financial services firm, has partnered with global analytics leader FICO to enhance its fraud detection and prevention capabilities. By leveraging the FICO® Platform, Entercard aims to combat fraudulent account openings and secure customer identities using advanced AI and analytics.
Why Entercard Chose FICO® Platform
Entercard selected the FICO Platform as a key part of its enterprise fraud program, citing the need for a robust, flexible, and AI-driven solution.
- Interoperable Technology: Aligns with Entercard’s existing case management and strategic architecture.
- Trusted Partnership: FICO has a longstanding relationship with Entercard, delivering award-winning fraud solutions in the past.
- Customer-Centric Security: Ensures enhanced fraud protection without compromising user experience.
Capabilities of the FICO Platform
The FICO Platform offers several core features critical to fraud detection and risk management:
- Model Development: Custom fraud scorecards built with advanced data science tools.
- Identity Resolution: Confirms real customer identities using network link analysis.
- Streaming Data Processing: Enables real-time decision-making and monitoring.
- Service Orchestration: Seamless integration across fraud systems and customer touchpoints.
Targeted Fraud Types and Use Cases
Entercard is addressing a range of fraudulent behaviors using FICO’s analytics capabilities:
- Synthetic Identity Fraud: Detects gradually created fake profiles.
- First-Party Fraud: Identifies deception by real applicants.
- Mule Account Detection: Flags accounts opened to funnel illicit funds.
- Impersonation & ID Theft: Identifies use of stolen credentials.
- Application Velocity Checks: Monitors high-frequency application patterns.
- Bust-Out Fraud: Recognizes patterns suggesting intent to default.
Executive Insights
Company leaders emphasize the importance of this collaboration:
- Céline Goulfault, COO at Entercard:
“We required cutting-edge, composable analytics that align with our architecture. FICO delivers exactly that.” - Yannick Leclerc, Head of Fraud Strategy & Analytics:
“FICO Platform enhances our agility and helps balance security with customer experience.” - Nikhil Behl, President, Software at FICO:
“Entercard’s adoption of FICO Platform builds on a legacy of fraud-fighting success and award-winning results.”
Entercard’s integration of the FICO Platform signals a strategic leap forward in fraud prevention. With a commitment to customer protection and AI-driven transformation, Entercard is setting new standards for security and innovation in the financial services sector across the Nordics.
