Metrobank Card implements FICO solution to combat fraud

Metrobank Card (MCC), a joint venture between
the Philippines’ Metrobank and ANZ Bank, has implemented FICO
Falcon Fraud Manager with the aim of protecting its growing base of
credit card holders and mitigate losses from fraud.

MCC has adopted FICO Falcon Fraud Manager with
the aim of ensuring maximum protection at a time when the
Philippines is experiencing rapid growth in its consumer credit
business.

Overall card issuance in the Philippines is
expected to double in the next five years.

Riko Abdurrahman, president of MCC, said;

“Our goal is to be the leading payment
solutions provider in the Philippines, and to do that, we need the
most advanced systems to fight fraud and protect our
customers.”

Burton Crapps, country manager of FICO for the Philippines,
said:

“We estimate that the Philippines could see a 5% increase in
fraud losses per year as criminals migrate to this fast-growing
market. Metrobank Card has taken a proactive, pre-emptive step to
protect its customers and itself with the implementation of FICO’s
sophisticated, analytics-driven fraud management solution.

“Where legacy systems may be overwhelmed and detect incidents of
fraud only after the fact, FICO Falcon Fraud Manager has the
predictive power as well as the scale to detect fraud among a
rapidly escalating volume of transactions.”

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