Increasingly banks are looking to leverage the full breadth of data related to customers to make better decisions, and fraud is no exception. There is a strong desire to break down silos, so fraud/risk behaviors in one area of the customer’s interaction with the bank can be utilized in other decisions impacting the customer experience. Traditional fraud detection systems are highly specialized to compute risk for a particular access method, making an enterprise view extremely challenging. What’s needed is a new approach.
Next month, FICO will be discussing the challenges of enterprise fraud management at FICO World, where FICO presents the session: Analytic Innovations in Enterprise Fraud. Source: FICO Banking Analytics Blog