Fair Isaac Corporation, a provider of analytics and decision management technology, says card payments processor SiNSYS has bought its Enterprise Decision Management (EDM) application to enhance account management and fraud detection capabilities.
Established in 2003 by three of the main European interbanking companies – Banksys, Interpay and SSB – Belgium-based SiNSYS now has a combined portfolio of more than 23 million international payment cards under contract in Belgium, the Czech Republic, Hungary, Italy, Poland, Slovakia, and the Netherlands. In total, these cards generate more than 1 billion transactions each year.
SiNSYS will integrate Fair Isaac’s TRIAD adaptive control system with its processing platform to help its network card issuers more effectively manage risk, and design and execute more profitable account-level strategies in credit line management, authorizations, collections, reissue, marketing and pricing. SiNSYS also has selected Fair Isaac’s industry-leading payment card fraud detection system, Falcon(tm) Fraud Manager, to monitor debit and credit card transactions and more effectively protect banks and their cardholders from fraudulent activity.
“Our clients specifically requested Fair Isaac’s decision management solutions to help them reduce risk, build customer loyalty and support credit card portfolio growth,” says Arnold Sneijers, Chief Commercial Officer at SiNSYS. “Fair Isaac’s TRIAD and Falcon solutions are recognized worldwide for their ability to enable a more customer-focused and profitable approach to serving payment card portfolios and customers. With this alliance, we will add even more value to TRIAD and Falcon for continental Europe customers by incorporating more localised scoring models and achieving full real-time integration of TRIAD and Falcon with a leading European card management system. This agreement underscores our commitment to offering our clients high-quality, secure and reliable account acquiring and processing solutions for growing their businesses.”
Consumer payment card usage has grown significantly in Europe. According to independent market analyst Datamonitor, the value of Europe’s consumer general purpose card transactions grew by 39 percent from 2000 to 2004. There were 29.3 billion consumer payment card transactions made in 2004, up from 20.9 billion in 2000, while the number of cards in issue grew from 440 million to 584 million.
“The alliance with SiNSYS offers a new channel for deploying Fair Isaac’s EDM solutions for account management and fraud detection in Europe,” says Andrew Jennings, vice president of Global Customer Management Solutions at Fair Isaac. “The agreement also establishes SiNSYS as a leading force in the European processing environment by adding significant strength and capabilities to their fraud protection and account management solutions.”
“This new agreement with SiNSYS demonstrates our strong presence in the region, and we expect this partnership to lead to significant growth opportunities internationally,” said Robert Duque-Ribeiro, vice president of International Sales at Fair Isaac. “As SiNSYS expands its card processing activities in other European countries, Fair Isaac will be alongside to share our market-leading decision management solutions and expertise.”