Is It Fraud or New Behavior? Two Analytics to Tell the Difference

Size: px
Start display at page:

Download "Is It Fraud or New Behavior? Two Analytics to Tell the Difference"

Transcription

1 Is It Fraud or New Behavior? Two Analytics to Tell the Difference

2 Is It Fraud or New Behavior? Can you tell the difference? Tom, a tech entrepreneur, purchases an expensive snowboard in Aspen, Colorado a transaction that looks odd compared to his historical behavior patterns. Is it the first sign his card has been compromised by a fraudster? Or is this just new behavior by a legitimate cardholder? An instant decision with more at stake for your bank than fraud prevention Reducing false positives legitimate transactions referred or declined as suspicious has a direct, immediate impact on your cardholders perceptions of service quality. And while Tom will appreciate being alerted if fraud is underway, too many inquiries will make him wonder 2014 Fair Isaac Corporation. All rights reserved. 2

3 Does this bank even know who I am?!!! 2014 Fair Isaac Corporation. All rights reserved. 3

4 Two ways to turn Tom s perception around New analytics help banks protect his account and customer experience by: 1 Understanding more about what Tom typically does 2 Understanding what Tom doesn t do (but is likely to in the future) 2014 Fair Isaac Corporation. All rights reserved. 4

5 1 Understand in detail what the cardholder typically does Tom doesn t typically purchase expensive snowboards in Aspen A fraud model would likely score Tom s snowboard transaction as suspicious and might decline the authorization. Trained on months or years of transactional data, it would detect high risk based on not only the unusual purchase type and location (Tom lives in New York), but historical behavior patterns of other cardholders with similar profiles. But what if the fraud model could take into consideration not only historical behavior patterns but the most current behavior going on in the production environment? 2014 Fair Isaac Corporation. All rights reserved. 5

6 1 Understand in detail what the cardholder typically does Adaptive models are sensitive to short-term changes in purchasing behavior An adaptive model, working in conjunction with the fraud model, refines detection by comparing Tom s transaction to other recent activity both known fraud and non-fraud data. It turns out it s not just Tom with a new-found interest in snowboarding. The adaptive model has seen lots of sporting goods purchases like this recently. Cases generated on other cardholders with similar profiles were determined to be non-fraud Fair Isaac Corporation. All rights reserved. 6

7 1 Understand in detail what the cardholder typically does Favorite ATM and cash withdrawal amount Favorite gas station, spend amount and frequency Favorite Wi-Fi Wi-fi cafe Here s another way to understand Tom s typical behavior: Like all consumers, he s a creature of habit Favorite travel city He may have a favorite ATM and specific amounts he typically withdraws at certain times of the and hotel day or week. Favorite stores and online vendors for certain types of purchases. Favorite travel destinations and hotels. FICO s Behavior Sorted Lists keep track of these favorites as they change over time They add power to traditional cardholder profiles by providing a more detailed view of typical transactional patterns. That improves your ability to distinguish between normal and suspicious behavior patterns. Here s how 2014 Fair Isaac Corporation. All rights reserved. 7

8 1 Understand in detail what the cardholder typically does How Risky? 2:00 am $ ATM withdrawal Behavior Sorted that would Lists generally update favorites look suspicious with each is clearly transaction legitimate for some individuals POS Online banking ATM Mobile payments Advantages: Megan: Approve The 1 transaction ATM_77 is in-pattern: F1=3.2 2 taking place at one of Megan s favorite ATMs 2 ATM_318 F2=9.2 1 (near the restaurant where she works) at a favorite time of day (after her shift) Index Entity Frequency Rank 3 ATM_291 F3= ATM_54 F4=2.7 3 Frank: Contact The transaction is out-of-pattern: not matching any of Frank s favorites Tracks virtually any type of entity (zip codes, cell phone numbers, bank accounts, countries, etc.) Allows patterns of favorites to evolve over time Rankings change with frequency Measures variance of in-pattern behaviors Enables creation of complex variables, such as what percentage of last 5 transactions had a rank of 3 or above? X 2014 Fair Isaac Corporation. All rights reserved. 8

9 1 Understand in detail what the cardholder typically does Fraud risk is lower if even some aspects of the transaction match cardholder favorites When Sarah purchases an expensive toy during a business trip to New York City, the transaction goes through without a hitch. One of Sarah s favorite purchase categories in Phoenix, where she lives, is high-end children s toys and clothing. Even with no favorites match, there is a way to anticipate new cardholder behavior Remember our snowboarder Tom? He s never purchased snowboarding or skiing equipment, and he s never been to Aspen before. Still, fraud analytics predict that this behavior is likely Flip the page to find out about innovative analytic technology being developed by FICO 2014 Fair Isaac Corporation. All rights reserved. 9

10 2 Understand what the cardholder doesn t do (but is likely to) People with similar characteristics tend to behave in similar ways Tom shares characteristics with some other cardholders. POS ATM Sports enthusiast Artsy Home improver Tech lover Eco conscious FICO s Collaborative Profiles generate archetypes from these global behavioral patterns ACH Online Mobile Transactional data streams from any number of sources Any mix of data combined into unstructured document Advanced algorithm discovers archetypes by finding similarities in customer behavior When this new technology, currently under development at FICO, is incorporated into fraud detection, fraud models will be able to accurately predict new customer behavior. That includes transactional behavior never before seen on Tom s account, but which is nevertheless likely based on the archetypes he fits. Here s how 2014 Fair Isaac Corporation. All rights reserved. 10

11 2 Understand what the cardholder doesn t do (but is likely to) 35.2% 1.3% 22.6% 40.5% 0.1% 38.7% 0.2% 25.1% 38.4% 0.2% Actual customer behavior is mapped to archetypes in real time With each transaction, analytics update the customer s allocation of behaviors across archetypes. Actual customer Tom Real-time updates from transaction streams 34.9% 0.5% 27.2% 42.1% 0.8% Dynamic mapping of Tom s behavior Is Tom making the transaction? Or is it a fraudster? Current distribution 34.9% 0.5% 27.2% 42.1% 0.8%! How wide is the difference?! Distribution if transaction goes through 40.2% 0.2% 25.6% 37.9% 0.3% The wider the change in archetype distribution, the riskier the transaction Is this Tom buying the snowboard? Or is it a fraudster who has stolen his card or data? Let s find out 2014 Fair Isaac Corporation. All rights reserved. 11

12 2 Understand what the cardholder doesn t do (but is likely to) 34.9% 0.5% 27.2% 42.1% 0.8% Distribution if transaction goes through 40.2% 32.4% 0.2% 0.5% 25.6% 33.5% 37.9% 49.3% 0.3% 0.5% It s probably Tom, since buying What if he d bought a sound system? a snowboard is something he s statistically likely to do Tom also strongly matches Home Improver, which has a propensity for electronics. He has a strong allocation to Sports Enthusiast, which has a high propensity to spend on this kind of equipment. The fraud model incorporates that information and lowers the fraud risk score. X 34.9% 0.5% 27.2% 42.1% 0.8% On the other hand, he s not likely to buy a painting from a gallery in Soho Tom has a very low allocation to the archetype, Artsy, with its propensity to purchase art and high fashion. Distribution if transaction goes through 28.2% 20.5% 29.6% 40.3% 0.3% 2014 Fair Isaac Corporation. All rights reserved. 12

13 1 + 2 Combine for even more valuable customer insights What impressed us most was that, even as an industry leader, FICO has not become complacent, but continues to Start with the benefits Behavior Sorted Lists bring to fraud management Higher detection rates, lower false positive rates, happier customers. Later gain additional benefits with Collaborative Profiles. These new analytic techniques will work together to help you do even more to protect customer accounts and deliver a superior customer experience For example, there might be a big change in Behavior Sorted Lists but not in Collaborative Profiles. This may be a sign that the customer is traveling, or moving or has changed jobs. Gradual rather than abrupt changes in both analytics may indicate that a longer-term change, such as the adoption of a more health-conscious lifestyle and/or rising prosperity, is underway. Such insights will be valuable beyond fraud management. In fact, you will be able to innovate. CEB TowerGroup Fair Isaac Corporation. All rights reserved. 13

14 Understand not only who your customer is, but who they re becoming Do that, and you ll nail fraud detection and deliver a customer experience that s nothing less than thrilling Learn more: Download the white papers on this topic: Insights #69: Is It Fraud? Or New Behavior? Insight #7: How Can Fraud Models Combat New Tricks? Check out our blog: Banking Analytics Blog For more information North America toll-free Latin America & Caribbean Europe, Middle East & Africa Asia Pacific (0) FICO and Make every decision count are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries. Other product and company names herein may be trademarks of their respective owners Fair Isaac Corporation. All rights reserved. 3045K 1/14 PDF

FICO Enterprise Fraud and Security Management. > Protection with a holistic view.

FICO Enterprise Fraud and Security Management. > Protection with a holistic view. FICO Enterprise Fraud and Security Management > Protection with a holistic view. > Fraud is everywhere. It s pervasive, invasive and harms customers, merchants and institutions alike. How can you keep

More information

Unlocking Small Business Lending Profitability. Balance Risk, Cost and Compliance

Unlocking Small Business Lending Profitability. Balance Risk, Cost and Compliance Unlocking Small Business Lending Profitability Balance Risk, Cost and Compliance Small and medium enterprise (SME) lending is challenging. The challenge: Smaller loan/lease amounts aren t profitable enough

More information

Big Data Developments in Transaction Analytics

Big Data Developments in Transaction Analytics Big Data Developments in Transaction Analytics Scott M Zoldi, PhD Vice President FICO Credit Scoring and Credit Control XIII August 28-30, 2013 This presentation is provided for the recipient only and

More information

How Fraud Can Be a Great Customer Experience

How Fraud Can Be a Great Customer Experience How Fraud Can Be a Great Customer Experience Martin Warwick Biography Martin Warwick is Principal Consultant at FICO with specific responsibilities in Fraud Consulting a position he has held since 2007.

More information

A Customer-Centric Approach to Regulatory Compliance. Trends and Tips for Success

A Customer-Centric Approach to Regulatory Compliance. Trends and Tips for Success A Customer-Centric Approach to Regulatory Compliance Trends and Tips for Success The need to avoid financial and reputational damage from the consequences of regulatory noncompliance is causing many banks

More information

Big Data Analytics for Every Organization

Big Data Analytics for Every Organization Big Data Analytics for Every Organization Cloud-based services give you the analytic power to reach greater heights 2014 Fair Isaac Corporation. All rights reserved. 1 In every industry, a handful of competitors

More information

Mobile Thought Leadership > Global

Mobile Thought Leadership > Global > www.fico.com Make every decision count The Mobile Revolution Mobile technology is revolutionizing the way we live. The number of smartphone users globally has already topped the one billion mark, and

More information

Mobile Thought Leadership > US

Mobile Thought Leadership > US > www.fico.com Make every decision count The Mobile Revolution Mobile technology is revolutionizing the way we live. The number of smartphone users globally has already topped the one billion mark, and

More information

Can Fraud Alerts Raise Customer Loyalty?

Can Fraud Alerts Raise Customer Loyalty? Can Fraud Alerts Raise Customer Loyalty? Stop fraud faster while building trust by better managing the customer experience Number 64 December 2012 For most people, being contacted by a bank about potential

More information

5 Simple Steps to Maintaining a Healthy Credit Score. An Experian white paper

5 Simple Steps to Maintaining a Healthy Credit Score. An Experian white paper 5 Simple Steps to Maintaining a Healthy Credit Score An Experian white paper Introduction As a business owner you realise the importance of credit. Being at the centre point of the credit flow you need

More information

Uncovering More Insurance Fraud with Predictive Analytics Strategies for Improving Results and Reducing Losses

Uncovering More Insurance Fraud with Predictive Analytics Strategies for Improving Results and Reducing Losses white paper Uncovering More Insurance Fraud with Predictive Analytics Strategies for Improving Results and Reducing Losses April 2012 Summary Predictive analytics are a powerful tool for detecting more

More information

High-Performance Scorecards. Best practices to build a winning formula every time

High-Performance Scorecards. Best practices to build a winning formula every time High-Performance Scorecards Best practices to build a winning formula every time Will your team win or lose? Scorecards drive financial decision making For decades, your organization has used the predictive

More information

Arab Bank Cards User Guide

Arab Bank Cards User Guide Arab Bank Cards User Guide 4600900 arabbank.jo A card to suit every lifestyle Coming to you from the largest Arab banking network, Arab Bank Cards entitle you to a host of benefits designed to offer you

More information

Business Intelligence and Big Data Analytics: Speeding the Cycle from Insights to Action Four Steps to More Profitable Customer Engagement

Business Intelligence and Big Data Analytics: Speeding the Cycle from Insights to Action Four Steps to More Profitable Customer Engagement white paper Business Intelligence and Big Data Analytics: Speeding the Cycle from Insights to Action Four Steps to More Profitable Customer Engagement»» Summary For business intelligence analysts the era

More information

New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit

New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit white paper New Predictive Analytics for Measuring Consumer Capacity for Incremental Credit July 29»» Executive Summary More clearly understanding a consumer s capacity to safely take on the incremental

More information

Summary. Scott Zoldi January 2008. white paper

Summary. Scott Zoldi January 2008. white paper white paper Innovative Services Need Innovative Fraud Detection What Financial Institutions Need Now to Secure New Channels and Markets for Rapid, Profitable Growth Scott Zoldi January 28»» Summary As

More information

Millennial Banking Insights and Opportunities.

Millennial Banking Insights and Opportunities. Millennial Banking Insights and Opportunities www.fico.com Millennial Banking Insights and Opportunities TABLE OF CONTENTS NON-TRADITIONAL BANKING ALTERNATIVE PAYMENTS PEER-TO-PEER LENDING VERSUS PRIMARY

More information

Card Not Present Fraud Webinar Transcript

Card Not Present Fraud Webinar Transcript Card Not Present Fraud Webinar Transcript All right let s go ahead and get things started, and to do that, I d like to turn it over to Fae Ghormley. Fae? Thank you for giving us this opportunity to share

More information

Innovations in Debit Card Fraud Analytics Stop Unchecked Fraud Growth by Expanding Visibility into Fraudulent Activity

Innovations in Debit Card Fraud Analytics Stop Unchecked Fraud Growth by Expanding Visibility into Fraudulent Activity white paper Innovations in Debit Card Analytics Stop Unchecked Growth by Expanding Visibility into ulent Activity September 2010»» Summary A healthy debit card market is cloaking an unhealthy rise in debit

More information

Build Deposits Profitably and Grow Customer Relationships. Manage the deposit base with proven analytics

Build Deposits Profitably and Grow Customer Relationships. Manage the deposit base with proven analytics FICO Deposit Solutions Build Deposits Profitably and Grow Customer Relationships Manage the deposit base with proven analytics The future will witness aggressive competition to win deposit accounts. To

More information

A CHASE PAYMENTECH WHITE PAPER. Expanding internationally: Strategies to combat online fraud

A CHASE PAYMENTECH WHITE PAPER. Expanding internationally: Strategies to combat online fraud A CHASE PAYMENTECH WHITE PAPER Expanding internationally: Strategies to combat online fraud Fraud impacts nearly eight in every ten international online retailers 1. It hampers prospects for growth, restricts

More information

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1.

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1. TABLE OF CONTENTS Introduction 3 General Guidelines for Successful Account Management 3 Managing Your Checking Account 1. Check Register 2. Planning 3. Recording Your Transactions 4. Balancing Your Account

More information

Statement of. Mark Nelsen. Senior Vice President, Risk Products and Business Intelligence. Visa Inc. House Ways & Means Subcommittee.

Statement of. Mark Nelsen. Senior Vice President, Risk Products and Business Intelligence. Visa Inc. House Ways & Means Subcommittee. Statement of Mark Nelsen Senior Vice President, Risk Products and Business Intelligence Visa Inc. House Ways & Means Subcommittee on Oversight Hearing on The Use of Data to Stop Medicare Fraud March 24,

More information

Developing a Credit Card Strategy Leveraging Big Data

Developing a Credit Card Strategy Leveraging Big Data Elan Financial Services 2014 Developing a Credit Card Strategy Leveraging Big Data Big data presents great opportunity for targeting and incentivizing customers with valuble card offers. By Elan Financial

More information

Banking On A Customer-Centric Approach To Data

Banking On A Customer-Centric Approach To Data Banking On A Customer-Centric Approach To Data Putting Content into Context to Enhance Customer Lifetime Value No matter which company they interact with, consumers today have far greater expectations

More information

Visa Student Card Terms and Conditions. These are your Student Card Terms and Conditions.

Visa Student Card Terms and Conditions. These are your Student Card Terms and Conditions. Visa Student Card Terms and Conditions These are your Student Card Terms and Conditions. "Agreement" means these Visa Student Card Terms and Conditions. "We" "us" and "our" refer to Bank-Fund Staff Federal

More information

360 Federal Credit Union Reloadable Prepaid Card Terms and Conditions

360 Federal Credit Union Reloadable Prepaid Card Terms and Conditions 360 Federal Credit Union Reloadable Prepaid Card Terms and Conditions These are your Prepaid Card Terms and Conditions: "Agreement" means these Visa Prepaid Card Terms and Conditions. "We" "us" and "our"

More information

Credit Matters ICAN. Be a Smart Credit Consumer. Iowa College Access Network. Iowa College Access Network

Credit Matters ICAN. Be a Smart Credit Consumer. Iowa College Access Network. Iowa College Access Network Credit Matters Be a Smart Credit Consumer ICAN Iowa College Access Network Iowa College Access Network ICAN Iowa College Access Network The Iowa College Access Network (ICAN) helps individuals attain their

More information

Prepaid Debit Card FAQs (FAQs with an asterisk appear in the prepaid cardholder collateral piece.)

Prepaid Debit Card FAQs (FAQs with an asterisk appear in the prepaid cardholder collateral piece.) Prepaid Debit Card FAQs (FAQs with an asterisk appear in the prepaid cardholder collateral piece.) Has Bellco partnered with a prepaid debit card vendor? Yes. Bellco has partnered with The Members Group

More information

EXPLORE YOUR INFINITE CARD WITH IBL BANK. Where your dreams count

EXPLORE YOUR INFINITE CARD WITH IBL BANK. Where your dreams count EXPLORE YOUR INFINITE CARD WITH IBL BANK Where your dreams count WELCOME TO THE EXCLUSIVE WORLD of Visa Infinite PAGE 07 INTRODUCTION THE INFINITE CARD IBL Bank introduces its new Visa card: The INFINITE

More information

Loss Forecasting Methodologies Approaches to Successful Risk Management

Loss Forecasting Methodologies Approaches to Successful Risk Management white paper Loss Forecasting Methodologies Approaches to Successful Risk Management March 2009 Executive Summary The ability to accurately forecast risk can have tremendous benefits to an organization.

More information

Protecting the POS Answers to Your Frequently Asked Questions

Protecting the POS Answers to Your Frequently Asked Questions Protecting the POS Answers to Your Frequently Asked Questions PROTECTING THE POS What is skimming? Skimming is the transfer of electronic data from one magnetic stripe to another for fraudulent purposes.

More information

Travel Card. Cardholder Frequently Asked Questions. June 2014 T.FQ.S.20141.E

Travel Card. Cardholder Frequently Asked Questions. June 2014 T.FQ.S.20141.E Travel Card Cardholder Frequently Asked Questions Travel Card (1) Where can I use my card? Your card may be used anywhere debit cards are accepted. The brand marks on your card indicate where the card

More information

Summary. January 2013»» white paper

Summary. January 2013»» white paper white paper A New Perspective on Small Business Growth with Scoring Understanding Scoring s Complementary Role and Value in Supporting Small Business Financing Decisions January 2013»» Summary In the ongoing

More information

PAYROLL CARD FREQUENTLY ASKED QUESTIONS

PAYROLL CARD FREQUENTLY ASKED QUESTIONS The following document provides answers to frequently asked questions regarding the Umpqua Bank Payroll Card. Contact Customer Care at 800-650-7141 with questions. Card Basics Q. How does the Payroll Card

More information

Introducing the Credit Card

Introducing the Credit Card Introducing the Credit Card This program was designed with high school students in mind. It goes over everything you need to know before you get your first credit card so you can manage it wisely.» Key

More information

RFM Analysis: The Key to Understanding Customer Buying Behavior

RFM Analysis: The Key to Understanding Customer Buying Behavior RFM Analysis: The Key to Understanding Customer Buying Behavior Can you identify your best customers? Do you know who your worst customers are? Do you know which customers you just lost, and which ones

More information

Solution Brief Efficient ecommerce Fraud Management for Acquirers

Solution Brief Efficient ecommerce Fraud Management for Acquirers Solution Brief Efficient ecommerce Fraud Management for Acquirers Table of Contents Introduction Sophisticated Fraud Detection and Chargeback Reduction Improved Compliance Posture Transparent User Experience

More information

Video Intelligence Platform

Video Intelligence Platform Security Whitepaper Five Tips to Fight ATM Skimming ATM skimming is a global crime that incurs annual losses of $1 billion. At the basic level, thieves seek to extract cash from bank accounts; however,

More information

Clear and Present Payments Danger: Fraud Shifting To U.S., Getting More Complex

Clear and Present Payments Danger: Fraud Shifting To U.S., Getting More Complex Clear and Present Payments Danger: Fraud Shifting To U.S., Getting More Complex Q: Good morning, this is Alex Walsh at PYMNTS.com. I m joined by David Mattei, the vice president and product manager for

More information

ACI Response to FFIEC Guidance

ACI Response to FFIEC Guidance ACI Response to FFIEC Guidance Version 1 July 2011 Table of contents Introduction 3 FFIEC Supervisory Expectations 4 ACI Online Banking Fraud Management 8 Online Banking Fraud Detection and Prevention

More information

Your guide to creating a customer experience program that works

Your guide to creating a customer experience program that works Your guide to creating a customer experience program that works CONTENTS Customer Love Stories The Customer Experience Challenge Create Customer Love Stories in 4 Steps Total Voice of the Customer Customer

More information

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options.

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options. General-purpose reloadable prepaid cards Prepaid Cards An alternative to credit and debit cards When choosing how to pay for their purchases, consumers have many options. Cash, check, debit and credit

More information

Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants.

Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants. Credit and Debit Card Security Tips Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants. Be careful with your PIN Always

More information

Data quality and predictive analytics. An Experian Data Quality white paper

Data quality and predictive analytics. An Experian Data Quality white paper Data quality and predictive analytics An Experian Data Quality white paper Data quality and predictive analytics Overview Customers have more options today than ever before. For example, they can shop

More information

It s in the Cards. Participant s Guide

It s in the Cards. Participant s Guide Savvy Saving Seniors It s in the Cards This material was prepared by a third party not affiliated with Bank of America or any of its affiliates and is for information and educational purposes only. The

More information

Visa CREDIT Card General Guidelines

Visa CREDIT Card General Guidelines Visa CREDIT Card General Guidelines General Account Information Phone Numbers and Addresses It is very important to keep us up-to-date with your correct address and phone number. Card reissues/replacements

More information

Opportunities in the Gay & Lesbian Tourism Marketplace

Opportunities in the Gay & Lesbian Tourism Marketplace Thomas E. Roth Community Marketing, Inc. Opportunities in the Gay & Lesbian Tourism Marketplace From 1994-2003, Community Marketing, Inc. has conducted tourism market research surveys and focus groups

More information

Compliance Guide: PCI DSS

Compliance Guide: PCI DSS Compliance Guide: PCI DSS PCI DSS Compliance Compliance mapping using Huntsman INTRODUCTION The Payment Card Industry Data Security Standard (PCI DSS) was developed with industry support by the PCI Security

More information

Find the digital fingerprints of fraud in the financial services industry

Find the digital fingerprints of fraud in the financial services industry Find the digital fingerprints of fraud in the financial services industry Velocity and pattern detection tool adds powerful capabilities for next-generation fraud management Gasan Awad Vice President,

More information

YOUR BENEFITS GUIDE. Welcome to your. CIBC Classic Visa. Card

YOUR BENEFITS GUIDE. Welcome to your. CIBC Classic Visa. Card YOUR BENEFITS GUIDE Welcome to your CIBC Classic Visa Card Welcome to your CIBC Classic Visa Card. And a completely different credit card experience. Your new CIBC Classic Visa Card comes with our promise

More information

How Mobile Communications Can Improve Collections

How Mobile Communications Can Improve Collections How Mobile Communications Can Improve Collections Mobile applications and SMS can boost customer repayments at a lower cost than traditional contact methods Number 58 March 2012 According to a report from

More information

BENEFITS GUIDE. BMO Prepaid Travel. MasterCard. Your travel payment card

BENEFITS GUIDE. BMO Prepaid Travel. MasterCard. Your travel payment card BENEFITS GUIDE BMO Prepaid Travel * MasterCard Your travel payment card WELCOME! GET READY TO USE YOUR CARD WITH COMPLETE PEACE OF MIND. You ve just received your new BMO Prepaid Travel MasterCard the

More information

Lenders and Consumers Benefit from Consumer Financial Education

Lenders and Consumers Benefit from Consumer Financial Education WHITE PAPER Curing Credit Score Confusion Tens of Millions Lenders and Consumers Benefit from Consumer Financial Education March 2014 Greg Pelling Vice President and General Manager, Scores and Analytics

More information

3 Ways Retailers Can Capitalize On Streaming Analytics

3 Ways Retailers Can Capitalize On Streaming Analytics 3 Ways Retailers Can Capitalize On Streaming Analytics > 2 Table of Contents 1. The Challenges 2. Introducing Vitria OI for Streaming Analytics 3. The Benefits 4. How Vitria OI Complements Hadoop 5. Summary

More information

International Travel Tips. Get the most from your Visa card

International Travel Tips. Get the most from your Visa card International Travel Tips Get the most from your Visa card Using Your Visa Card to Make Purchases Abroad Your Visa card is accepted at millions of places worldwide, making it a safe and convenient way

More information

text data analytics insights unstructured predictive improve source Extracting Value from Unstructured Data use behavior characteristics customer

text data analytics insights unstructured predictive improve source Extracting Value from Unstructured Data use behavior characteristics customer models time techniques segmentation topics characteristics customer strong major processing value performance example intelligence changing better algorithms operational Data multiple Text unstructured

More information

Credit cards explained

Credit cards explained Credit cards explained What is a credit card? As its name suggests, a credit card lets you buy things on credit meaning that you don t need to have the money upfront to pay for your purchases. If large,

More information

How Financial Services Firms Can Benefit From Streaming Analytics

How Financial Services Firms Can Benefit From Streaming Analytics How Financial Services Firms Can Benefit From Streaming Analytics > 2 VITRIA TECHNOLOGY, INC. > How Financial Services Firms Can Benefit From Streaming Analytics Streaming Analytics: Why It s Important

More information

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1.

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1. TABLE OF CONTENTS Introduction 3 General Guidelines for Successful Account Management 3 Managing Your Checking Account 1. Check Register 2. Planning 3. Recording Your Transactions 4. Balancing Your Account

More information

Fighting Online Fraud

Fighting Online Fraud White Paper Fighting Online Fraud Maintaining tight security, including using both standard and advanced fraud detection and prevention tools, is crucial to maintaining a successful business. No merchant

More information

Why do you need my Social Security Number and other personal information when I enroll for an I.C.E. card?

Why do you need my Social Security Number and other personal information when I enroll for an I.C.E. card? ABOUT THE ICE MasterCard Prepaid CARD What is the I.C.E MasterCard Prepaid CARD? Is the I.C.E. Card like a checking or savings account? Are funds loaded on to the I.C.E. Card FDIC insured? Are there age

More information

The State of Play in Cyber Payments Fraud Improving Security for Online & Card Not Present Transactions

The State of Play in Cyber Payments Fraud Improving Security for Online & Card Not Present Transactions The State of Play in Cyber Payments Fraud Improving Security for Online & Card Not Present Transactions Mark Greene, Ph.D CEO, FICO Federal Reserve Bank of Chicago 26 September 2011 Cybercrime Costs 431

More information

Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012

Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012 Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012 Contacts Ipsos Public Affairs: Fabienne SIMON 01 41 98 92 15

More information

Prepaid Fraud Mitigation: Leveraging the Processing Relationship to Prevent Fraud Throughout the Prepaid Lifecycle

Prepaid Fraud Mitigation: Leveraging the Processing Relationship to Prevent Fraud Throughout the Prepaid Lifecycle Prepaid Fraud Mitigation: Leveraging the Processing Relationship to Prevent Fraud Throughout the Prepaid Lifecycle Conducted by Javelin Strategy & Research October 2009 2008 Javelin Strategy & Research

More information

Overview. Develop a plan Understand financial aid Be a responsible borrower Take charge of credit cards Understand your credit Prevent identity theft

Overview. Develop a plan Understand financial aid Be a responsible borrower Take charge of credit cards Understand your credit Prevent identity theft Lisa Croat and Andrea Clark Lunch provided by the Higher One Financial Literacy Counts Grant Overview Develop a plan Understand financial aid Be a responsible borrower Take charge of credit cards Understand

More information

Uneasy about getting started? Not to worry. SageLink Credit Union has trained employees to help you every step of the way.

Uneasy about getting started? Not to worry. SageLink Credit Union has trained employees to help you every step of the way. Checking If you re like most young adults, you spend a lot of time thinking about money. How to get money? What to spend your money on? Where to keep your money in between? A MoneyLink Checking account

More information

The lists are presented in alphanumerical

The lists are presented in alphanumerical scoring US Reason Codes s The following lists display the score reason codes and associated reason statements for FICO s across the major US credit reporting agencies. These lists may be used as a reference

More information

RSA Adaptive Authentication For ecommerce

RSA Adaptive Authentication For ecommerce RSA Adaptive Authentication For ecommerce Risk-based 3D Secure for Credit Card Issuers SOLUTION BRIEF RSA FRAUD & RISK INTELLIGENCE The Threat of ecommerce Fraud ecommerce fraud is a threat to both issuers

More information

Visa Consulting and Analytics

Visa Consulting and Analytics Visa Consulting and Analytics Issuer Acquirer Retailer Analytics and Information services: Issuer menu Issuers - Visa data driven insights We are in a unique position to inform our clients about performance

More information

Gladiator NetTeller Enterprise Security Monitoring Online Fraud Detection INFORMATION SECURITY & RISK MANAGEMENT

Gladiator NetTeller Enterprise Security Monitoring Online Fraud Detection INFORMATION SECURITY & RISK MANAGEMENT Gladiator NetTeller Enterprise Security Monitoring Online Fraud Detection INFORMATION SECURITY & RISK MANAGEMENT Gladiator NetTeller Enterprise Security Monitoring Online Fraud Detection Foreword The consumerization

More information

The Retail Customer Experience Which elements of the shopping experience matter most?

The Retail Customer Experience Which elements of the shopping experience matter most? The Retail Customer Experience Which elements of the shopping experience matter most? September 2015 When it comes to shopping behavior, price is always a key motivator. However, to sustain a customer

More information

Better Deals, More Cashback

Better Deals, More Cashback Better Deals, More Cashback 1 Table of contents 4 About DubLi 6 What is Cashback? 8 Coupons, Promotions and Special Deals 10 Travel Get paid to travel with industry-leading Cashback rewards 12 Shopping

More information

PRACTICAL MONEY GUIDES DEBIT CARD BASICS. What you need to know about using your debit card

PRACTICAL MONEY GUIDES DEBIT CARD BASICS. What you need to know about using your debit card PRACTICAL MONEY GUIDES DEBIT CARD BASICS What you need to know about using your debit card MONEY IN THE BANK If credit cards mean pay later, debit cards mean pay now. These cards are issued by your bank,

More information

Answering the Three Biggest Questions About Waste in Health Care Payments Payer Organizations Turn to Predictive Analytics

Answering the Three Biggest Questions About Waste in Health Care Payments Payer Organizations Turn to Predictive Analytics white paper Answering the Three Biggest Questions About Waste in Health Care Payments Payer Organizations Turn to Predictive Analytics December 2012»» Summary My special investigations unit keeps an eye

More information

Small Business. Online Success. Google offers insights and tools to help your business grow.

Small Business. Online Success. Google offers insights and tools to help your business grow. Small Business. Online Success. Google offers insights and tools to help your business grow. Contents Introduction 5 The basics: Get online 6 Ready-made sites 6 Google Sites 7 The next step: Attract and

More information

Bust-out fraud. Knowing what to look for can safeguard the bottom line. An Experian white paper

Bust-out fraud. Knowing what to look for can safeguard the bottom line. An Experian white paper Knowing what to look for can safeguard the bottom line An Experian white paper Executive summary Bust-out is a growing area of fraud for the financial services industry. For organizations across the globe,

More information

F I C O. February 22, 2011

F I C O. February 22, 2011 F I C O Fair Isaac Corporation 901 Marquette Avenue, Suite 3200 Minneapolis, M N 5 5 4 0 2 U S A T 6 1 2-7 5 8-5 2 0 0 F 6 1 2-7 5 8-5 2 0 1 www.fico.com February 22, 2011 Jennifer J. Johnson, Secretary

More information

The Merchant. Skimming is No Laughing Matter. A hand held skimming device. These devices can easily be purchased online.

The Merchant. Skimming is No Laughing Matter. A hand held skimming device. These devices can easily be purchased online. 1 February 2010 Volume 2, Issue 1 The Merchant Serving Florida State University s Payment Card Community Individual Highlights: Skimming Scam 1 Skimming at Work 2 Safe at Home 3 Read your Statement 4 Useful

More information

TOP TRUMPS Comparisons of how to pay for goods and services online

TOP TRUMPS Comparisons of how to pay for goods and services online Cash Cash is legal tender in the form of bank notes and coins Small value purchases e.g. cafes, shops Pocket money Repaying friends Cash is physically transferred from one person to the next, usually face-to-face

More information

Managing your online reputation

Managing your online reputation Managing your online reputation Getting the Most out of the World s Largest Travel Site Presented by Pollyanna Vincent Senior Partnerships Manager, UK and Nordics Consumer reviews are everywhere! NEARLY

More information

Money Math for Teens. Before You Choose a Credit Card

Money Math for Teens. Before You Choose a Credit Card Money Math for Teens Before You Choose a Credit Card This Money Math for Teens lesson is part of a series created by Generation Money, a multimedia financial literacy initiative of the FINRA Investor Education

More information

Sending money abroad. Plain text guide

Sending money abroad. Plain text guide Sending money abroad Plain text guide Contents Introduction 2 Ways to make international payments 3 Commonly asked questions 5 What is the cost to me of sending money abroad? 5 What is the cost to the

More information

Are Credit Monitoring Systems a Reliable Score Measurement When Preparing to Buy a Home Using Your VA Home Loan Benefit?

Are Credit Monitoring Systems a Reliable Score Measurement When Preparing to Buy a Home Using Your VA Home Loan Benefit? Are Credit Monitoring Systems a Reliable Score Measurement When Preparing to Buy a Home Using Your VA Home Loan Benefit? From the Book, What Every Veteran Needs to Know by Peter Van Brady If you are concerned

More information

When Is Big Data the Way to Customer Centricity?

When Is Big Data the Way to Customer Centricity? When Is Big Data the Way to Customer Centricity? Next-generation analytic learning finds critical in an ocean of false clues By Dr. Andrew Jennings, FICO Chief Analytics Officer and Head of FICO Labs Number

More information

The ipass Wi-Fi Cost Index

The ipass Wi-Fi Cost Index The ipass Wi-Fi Cost Index The High Cost of Data Roaming and What You Can Do About It Corporate Headquarters ipass Inc. 3800 Bridge Parkway Redwood Shores, CA 94065 +1 650-232-4100 +1 650-232-4111 fx www.ipass.com

More information

How Much Is US Credit Behavior Changing?

How Much Is US Credit Behavior Changing? How Much Is US Credit Behavior Changing? New FICO research provides answers and points to opportunities Number 56 November 2011 In recent years, industry and media perception of US consumer credit behavior

More information

Contents Security Centre

Contents Security Centre Contents Security Centre... 1 1. Search Engines... 2 2. Online Applications... 2 3. Virgin Money Credit Card Online Banking Security Measures... 2 3.1 Access Number, PIN and Password... 2 3.2 Keypad...

More information

CARD FRAUD MANAGEMENT SYSTEMS

CARD FRAUD MANAGEMENT SYSTEMS CEB TOWERGROUP RETAIL BANKING & CARDS PRACTICE November 2012 CARD FRAUD MANAGEMENT SYSTEMS Technology Analysis Abstract* Brian Riley Senior Research Director, Retail Banking & Cards Practice Vendor Assessment

More information

Reloadable Visa Debit Card. These are your Reloadable Visa Debit Card Terms and Conditions.

Reloadable Visa Debit Card. These are your Reloadable Visa Debit Card Terms and Conditions. Reloadable Visa Debit Card These are your Reloadable Visa Debit Card Terms and Conditions. "Agreement" means these Visa Prepaid Card Terms and Conditions."We" "us" and "our" refer to Del Norte Credit Union.

More information

Product. Retail Online Flexible and Integrated Consumer Online Banking

Product. Retail Online Flexible and Integrated Consumer Online Banking Product Retail Online Flexible and Integrated Consumer Online Banking helps you attract new customers and build profitable relationships with them. Offer customers real-time information and advanced functionality

More information

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers FIS Active Analytics Suite Delivering Segmentation-driven Digital Marketing, Merchant Offers Price Optimization and Risk Management Performance Analysis The FIS Active Analytics Suite helps financial institutions

More information

FRAUD PREVENTION IN M-COMMERCE: ARE YOU FUTURE PROOFED? A Chase Paymentech Paper

FRAUD PREVENTION IN M-COMMERCE: ARE YOU FUTURE PROOFED? A Chase Paymentech Paper FRAUD PREVENTION IN M-COMMERCE: ARE YOU FUTURE PROOFED? A Chase Paymentech Paper In the UK, Europe s largest online market, consumers continue to embrace m-commerce at an astonishing speed with an estimated

More information

The Benefits of Business Credit

The Benefits of Business Credit The The Benefits of Business Credit Published by David Gass This booklet is for: Individuals seeking a business loan or lease Business owners with excellent or poor personal credit Entrepreneurs who would

More information

DIAMOND NAIRA VISA DEBIT CARD. Your Bank

DIAMOND NAIRA VISA DEBIT CARD. Your Bank DIAMOND NAIRA VISA DEBIT CARD Your Bank Overview The Diamond Naira Visa Debit Card is an international payment card issued by Diamond Bank in partnership with the VISA Card Association. It is denominated

More information

A Guide to Protecting Yourself From Identity Theft

A Guide to Protecting Yourself From Identity Theft A Guide to Protecting Yourself From Identity Theft 2010 Capital One. Capital One is a registered trademark. At Capital One, we understand that Identity Theft is a frustrating, and sometimes frightening,

More information

BUILDING LIFETIME VALUE WITH SEGMENTATION

BUILDING LIFETIME VALUE WITH SEGMENTATION PRESENTS DATA DRIVEN BRAND MARKETING PART ONE YOUR DEFINITIVE GUIDE TO BUILDING LIFETIME VALUE WITH SEGMENTATION WHAT YOU D KNOW IF WE COULD TALK TO YOU Proving the Value of Marketing 1 2 3 4 5 6 SEE YOUR

More information