Axis Bank, India's third largest private sector bank, has chosen FICO's fraud management software to prevent fraudulent transactions across its consumer banking portfolio.
The bank is using FICO's Falcon Fraud Manager to enable detection and prevention of fraud and protect its credit and debit card accounts, the analytics software company announced today.
According to the software vendor, the solution enables the bank to detect potential fraud at the transaction level in real time and take appropriate action to prevent it. Its software is used by more than 9,000 financial services organisations worldwide.
"We have proactively opted for FICO Falcon Fraud Manager to further secure our customer's transactions, unimpeded by any online threats," said Jairam Sridharan, head of Consumer Lending and Payments, Axis Bank.
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