Fair Isaac Corp. says systems it developed with Deutsche Postbank AG last year have helped the German bank reduce fraud on consumer loans.
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Fair Isaac, of Minneapolis, said Thursday that it developed an analytic model for Postbank to detect fraud in real time. The companies also worked together on a strategy for fraud detection in credit applications. The strategy and model were put into effect a year ago.
"Since implementing the strategy … our system detects a large proportion of fraud attempts," Guido Wrede, the head of Postbank's credits and cards department, said in a press release. "This has led to a significant decrease of bad debt losses related to fraud."
