US FinTech PULSE has extended its debit fraud protection deal with global analytics software provider FICO.
The move is set to allow the organisations to deliver market-leading fraud-detection technology that reduces losses and risk exposure for financial institutions, merchants and consumers worldwide.
The collaboration reinforces PULSE’s ambition to o enhance its DebitProtect® suite of advanced fraud-mitigation solutions, powered by the state-of-the-art FICO® Falcon® Fraud Manager.
Jim Lerdal, executive vice president of Operations with PULSE said: “Our enhanced fraud-detection and blocking capabilities have become more important than ever with the Federal Reserve’s Regulation II clarification expected to shift more card-not-present transaction volume to unaffiliated debit networks such as PULSE.
“Extending our close partnership with FICO enables us to continue enhancing our ability to prevent and respond to the latest trends in debit fraud.”
The forthcoming 2023 PULSE Debit Issuer Study, conducted for PULSE by West Monroe, stated that fraud is an issue of increasing importance to debit issuers, with nearly 90% of survey respondents reporting increased impact of and attention to fraud in 2022.
Adam Davies, vice president of Fraud at FICO said: “PULSE and FICO have outstanding, innovative teams and are constantly adapting to provide tools financial institutions can use to mitigate evolving security risks.
“Our Falcon Fraud Manager model benefits from the fraud learnings fed into it from PULSE’s large network of debit card issuers. We look forward to continuing to collaborate with PULSE to protect all debit stakeholders.”
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