LONDON, 16 June, 2021 — Analytics software firm FICO today announced that Switzerland’s PostFinance will protect nearly 3 million debit cards with the FICO® Falcon® Platform, the world’s leading AI-powered payments card protection system. PostFinance, the financial institution of Swiss Post and a systemically important bank, will use the Falcon Platform to manage suspicious behavior on customers’ accounts, including activity that may be the result of scams, which are increasing across Europe during the pandemic.
More information: https://www.fico.com/en/products/fico-falcon-platform
An estimated one-third of debit card transactions in Switzerland are made using PostFinance debit cards. PostFinance has also recently partnered with MasterCard to cobrand its debit cards, which can be used as MasterCard cards both internationally and domestically.
“Our goal is to be the leading digital bank in Switzerland,” said Christoph Stettler, senior security officer at PostFinance. “Trust is critical as we strive to give customers the best banking experience. This is why we selected the FICO Falcon Platform, which is known worldwide as the gold standard in payments fraud protection. Security is our main goal, but we also will ensure more frictionless transactions.”
“Debit cards in many countries lack the strong level of protection that credit cards have long had,” said Steve Hadaway, vice president and general manager of FICO in Europe, the Middle East and Africa. “With the FICO Falcon Platform, PostFinance customers will enjoy the strongest protection possible, powered by more than 120 patents in the area of artificial intelligence for fraud detection.”
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.