anti-fraud solution Dock | FICO®: the best protection for cards and digital accounts

Published January 12, 2022.

reading time 7 minutes reading

With the increase of scams and frauds perceived by Brazilians in the last times, stepping up protective barriers has become not just a security issue, but a strategy to drive business forward.

That's why quickly implementing a smart and robust anti-fraud solution has never been more important.

In order to offer the best anti-fraud solution for the payments market and banking, we have developed an innovative business model of fraud prevention in partnership with FICO, which includes the payment only for analyzed transactions (pay-as-you-go model) - what customers demand very low initial investment to rely on the service and makes it possible to implementation in a few weeks.

We integrate to our solution of Risks the platform FICO® Falcon®, which protects the end customer from fraud in credit, debit, prepaid cards, private labels and digital accounts. The service is available to institutions of any size, whether or not they are customers of Dock.

In this article, we will detail the differentials of our fraud prevention services.

 

Anti-fraud solution: the FICO platform® Falcon®

 

Recognized as the best anti-fraud solution on the market, according to Gartner, the FICO platform® Falcon® protects two-thirds of all cards used in the world.

The gigantic volume of analyzed transactions and the magnitude of the historical data managed by FICO® Falcon® allows the creation of extremely sophisticated analysis models, based on customer behavior in conjunction with Artificial Intelligence algorithms that are constantly being improved.

We highlight below the three main modules of FICO® Falcon®:

  • Falcon Card: guarantees the protection of all branded card transactions.
  • Falcon Banking: modality that inspects banking operations such as transfers, payment of slips and now also the Pix, which makes the anti-fraud solution even more necessary due to the instantaneity and 24×7 availability of the system.
  • CCS® (Customer Communication Services): is the tool that orchestrates and automates all real-time communication with customers through various channels, such as SMS, push, email, WhatsApp, browser and voicebot.

Through the licensing of FICO systems® Falcon® and FICO® CCS®, we managed to operationalize the entire installation via the cloud, which makes our operations increasingly comprehensive.

In addition to the agility of implementation, Falcon adds other benefits that make the platform a reference for financial institutions around the world – check it out below.

 

The advantages of combining the best anti-fraud solution with the innovative business model of Dock

 

With our anti-fraud solution based on machine learning and analysis based on behavioral scores, we are able to identify, prevent and block fraud at all stages of our customers' operations.

Some expressive results we have achieved:

  • Reduction of fraud analysis time by 95%;
  • 18% reduction in fraud disputes, corresponding to a 26% decrease in financial values ​​identified as fraudulent.

Our solution is able to stop fraud without denying good transactions – we combine the most modern to keep the balance between prevention, data privacy and customer experience.

Some technological characteristics of the system are essential when it comes to promoting competitive advantage. Discover the main ones:

 

Low initial investment

 

Any card issuer or digital account on the market (customer Dock or not) you can hire the service for a much lower cost: we reduce by 95% more the initial investment.

 

fast implementation

 

Within 3 or 4 weeks the platform is fully implemented and is already running on the pay-as-you-go model (billing for analyzed transactions).

 

technological intelligence

 

The evolutionary characteristic of the technology, once implemented, allows constant revision, as the database grows. In this way, the model continues to be improved by the mechanisms of Artificial Intelligence and can also undergo modifications based on feedback from the issuers.

 

Platform robustness

 

It is not by chance that FICO® Falcon® is the biggest global player in quantity and transaction history. The robustness of the platform allows a large volume of transactions to be verified quickly, reliably and accurately., delivering detailed analysis of movements.

Falcon's AI and math models are currently running at over 9 financial institutions and 17 of the top 20 global card issuers.

 

reduced response time 

 

The best anti-fraud solution is one capable of quickly identifying any suspicious behavior and making automated decisions about it. As we have highlighted, FICO® Falcon® reduce in 95% (from tenths to milliseconds) the transaction authorization analysis stage.

 

Boosting business involves preventing fraud

 

Na Dock, we understand that avoiding financial losses is the first dimension of fraud prevention. After all, losing large amounts due to fraudulent transactions will always hinder the growth of any business.

By reducing fraud, the operation is protected and results are boosted. The reason is simple: by not blocking good transactions, which only appear to be fraudulent, the company guarantees a great user experience and increases its chances of retaining it.

With the growing trend of electronic transactions, the challenges for financial institutions to stop fraud attempts without preventing legitimate transactions have become even more latent. For this reason, considering hiring an anti-fraud solution service has become a strategic issue for the business.

Once again, the customer experience needs to be highlighted. The combination of security and agile and efficient interaction is crucial in consumer choice for products or services.

The solution of Dock | I AM® promotes instant and omnichannel communication. In addition to protecting the performance of operations, it also improves the reliability of users throughout the supply chain. payment options e banking, whose development is crucial to boosting business, accelerating financial inclusion and impacting economic growth.

 

Anti-fraud solution: what did you see in this article?

 

  • With the constant increase in digital transactions and the consequent growth of fraud attempts, investing in an anti-fraud solution has never been more necessary for financial institutions;
  • Our fraud prevention solution in partnership with FICO offers the highest level of protection through an innovative model, in which the customer only pays for analyzed transactions (pay-as-you-go model);
  • Our mission is to decode the financial universe by providing the best fraud prevention technology for issuers, financial institutions or digital banks;
  • the service of Dock brings advantages such as low initial investment, fast implementation, robust platform and reduced response time in transaction analysis.

 

Related articles:

 

Want to stay on top of the latest news in payments and banking?

Subscribe to our monthly newsletter:

    Email sent Enrollment done! OK