BDO Unibank (BDO), a bank in the Philippines, has extended its use of the FICO Falcon Fraud Manager to its debit card users in a bid to reduce card fraud.
The FICO Falcon Fraud Manager uses advanced neural networks to analyse cardholder account transactions in real-time to detect fraud. The fraud detection solution currently protects more than 2.5 billion payment cards worldwide, according to analytics software company FICO.
Earlier this year, BDO implemented the FICO Falcon Fraud Manager for its credit card business. The decision to extend this level of protection to its debit card users supports the bank's strategy to introduce e-commerce and protect ATM transactions for its entire customer base of more than 13 million.
Emmanuel Narciso, executive vice president for consumer lending at BDO, said that the implementation of FICO Falcon Fraud Manager will help assure its customers that paying via debit cards for online and in-store purchases is safe, thus encouraging the use of debit cards for payments.