Fair Isaac and Turkey?s Akbank Expand Partnership

Fair Isaac Corporation, the leading provider of analytics and decision management technology, announced that Akbank, Turkey’s largest privately owned bank, has completed implementation of Fair Isaac’s Falcon™ ID solution to provide its customers with effective protection against identity fraud.

Under terms of the agreement, Akbank will become the first European lender to deploy Falcon ID, initially using the solution to protect its credit card portfolios. Falcon ID is Fair Isaac’s comprehensive solution for identity fraud detection, which combines the company’s industry-leading predictive analytics, a sophisticated authentication interview process and multiple sources of data for validating identities. The solution enables Akbank to quickly detect and efficiently resolve identity fraud attempts, and validate the identity of a valued customer or prospect at the earliest possible stage.

“We welcome the opportunity to build on our successful relationship with Fair Isaac by integrating Falcon ID into our enterprise-wide decision management processes,” said Yesim Harbath, Senior Vice President of Card Operations at Akbank. “Fair Isaac’s fraud and identity theft detection solutions are proven among financial services leaders, and Falcon ID easily integrates with our existing technology investments. The solution will help us improve operational efficiency in credit account originations and increase acceptance rates, while effectively managing risk.”

Akbank is currently using several other Fair Isaac applications for Enterprise Decision Management (EDM). These include a suite of Fair Isaac custom models and Customer Management TRIAD™, which enables the bank to further automate key credit decisions and better manage risk at the customer level. The bank also uses a Fair Isaac origination decisioning solution to automate and improve application processes for its “CepKredi” service, which allows consumers to apply via their cell phone for mortgages, general purpose credit and auto loans.

“Credit grantors in Turkey and throughout Europe who are seeking to expand their consumer lending business require advanced systems that enable them to safely and efficiently underwrite new accounts and optimize their customer decisions,” said Robert Duque-Ribeiro, Managing Director for Europe, Middle East and Africa markets at Fair Isaac. “Falcon ID provides Akbank with a comprehensive approach to preventing identity fraud, reducing losses and protecting its credit card holders. We look forward to helping Akbank and other leading financial institutions throughout Europe take control of complex decision processes across their portfolios and leverage them for a competitive advantage.”

Akbank currently receives approximately 200,000 credit card applications per month, of which 45 percent are declined. Falcon ID allows the lender to apply an unprecedented depth of predictive data from both internal and external sources in order to determine in real time whether an application is genuine or fraudulent, resulting in faster and more precise origination decisions.

Falcon ID’s capabilities include an ID Clearinghouse which accesses external data and validation services as required in order to facilitate real-time sharing of critical information between companies in the same industry — and across different industries — to detect when an identity is compromised. The ID Clearinghouse also provides organizations with cost savings and more control over their data investments by enabling them to buy only the types and amounts of data that match their specific fraud detection requirements.