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Metrobank Card of the Philippines Fights Fraud with FICO Technology

F.Y. Teng | March 14, 2012
The payment solutions firm's latest investment is meant to protect its growing base of credit cardholders.

In a statement issued Wednesday (March 14, 2012), FICO, a technology vendor that styles itself as a "decision management" solutions provider, announced the implementation of its FICO Falcon Fraud Manager by Philippines-based payment solutions company Metrobank Card Corporation(MCC).

This latest investment by MCC is meant "to protect its growing base of credit cardholders and mitigate losses," particularly now "when the Philippines is experiencing rapid growth in its consumer credit business, which is accompanied by an increased risk of fraud," said FICO executives, who also claim that their "fraud systems protect more than two billion card accounts worldwide, including more than 50 million card accounts in Asia-Pacific," and that FICO Falcon Fraud Manager alone "has saved Asia-Pacific card issuers more than US$1.5 billion in fraud losses" to date.

"Our goal is to be the leading payment solutions provider in the Philippines," said Riko Abdurrahman, President of MCC-which is a joint venture between the Philippines Metrobank and ANZ Bank of Australia and New Zealand-when commenting on the announcement. "And to do that, we need the most advanced systems to fight fraud and protect our customers."

 

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