To coincide with the announcement analytics firm Fair Isaac has confirmed that it will be sponsoring the “Best Security or Anti-Fraud Development” category at the ceremony, to be held on the 31st January 2008.
Card issuers must demonstrate a commitment to protecting their customers from internet and ‘card-not-present’ fraud, identity theft and card deception to be in with a chance of scooping the award.
The winner will be selected by an independent judging panel before Fair Isaac present them with a trophy at The Grosvenor House Hotel in London.
“The UK and Irish card markets have become more challenging than ever before, and the emergence of new technology and its application is providing fresh opportunities to all sides of the payment card industry,” said Martin Fielding, CEO of The Card Awards.
“The Card Awards give the industry the opportunity to showcase examples of responsible practices and outstanding performance. Category support from industry leaders such as Fair Isaac demonstrates the industry’s desire to recognise these achievements within one of the most dynamic sectors in Europe.”
Fair Isaac’s global fraud detection products and services include advanced analytic technologies, consulting services and fraud reduction partnerships. The company’s ‘Falcon Fraud Manager’ aims to minimise fraud losses by predicting the likelihood that a transaction is fraudulent.
Fair Isaac say Flacon can analyse transactions in real time to generate recommendations for immediate action, which they believe is critical to stopping fraud at an early stage- often before the cardholder knows that a card has been compromised.
Falcon is currently in place to protect nearly 900 million payment cards from fraud worldwide.
