FICO Fraud Testimonials:
Lenders Worldwide Turn to FICO in the Fight Against Fraud
www.fico.com Make every decision countTM
On the surface, fraud attacks can often look similar, but they’re always somewhat
distinct—by region, portfolio, channel, degree or by the nature of fraud’s evolution.
In FICO’s more than 20 years of developing new fraud technology, we’ve worked with
businesses worldwide in fighting many variations of fraud, and in considering the
unique needs and objectives of individual operations. Our technology development,
and our staff expertise, reflect our ongoing experience in detecting nuances of new
fraud attacks as they emerge.
As the six testimonials presented here demonstrate, FICO approaches every fraud challenge as unique.
But the accumulation of our experience—built into our technology and staff insight—provides a solid
foundation to detect fraud and quickly prevent losses with minimal customer impact.
Royal Bank of Scotland curbs fraud threat with consulting support
Client: Royal Bank of Scotland
Challenge: Stop accelerating card fraud trend without negatively impacting
Solution: FICO fraud reduction partnership
Results: Fraud losses dramatically reduced in two months, resulting in an annual
reduction greater than initially targeted—without negatively impacting
sales. Losses now in line with US market.
When UK card issuers saw three consecutive years of card fraud increases—first by 25%, then another
28% and then 41% more—Royal Bank of Scotland took steps to be at the forefront of a response. RBS
was concerned with resulting losses—especially should the trend continue—and equally troubled by
the negative impact it would have on its customer base.
Although RBS developed its own strategic initiatives to combat the problem, it also called on FICO
consulting. The two companies agreed to a goal to reduce fraud by 50% in 12 months. After
evaluating RBS’s initiatives and determining that they would not meet objectives, FICO developed a
new strategy and agreed to a results-based fee structure. Within four months, losses were dramatically
reduced. The strategy—moving from rules-based to a score-based detection at the point-of-sale—led
RBS to earlier detection, more precise referrals and more fraud detected.
Learn more about RBS’s success with FICO fraud consulting by reading the complete case study.
“The fraud reduction
partnership was successful
above and beyond our initial
expectations, reversing the
growing fraud trend the
industry had experienced in
Royal Bank of Scotland