First Omni Bank has signed a seven-year agreement to use the HNC Falcon bank card fraud detection system, said HNC Software Inc.
First Omni, a unit of First Maryland Bancorp, will also use the Falcon Expert subsystem for streamlining its fraud-prevention operations, added San Diego-based HNC.
The Falcon system, which uses neural network technology to monitor and analyze transactions for their fraud potential, is widely deployed in the bank card business. First Omni is among the first to buy Falcon Expert, an option for automating antifraud procedures.
The systems will be installed at First Omni in Millsboro, Del., and connected via telecommunications to the bank's processor, Total System Services Inc. in Georgia.