Turkey Bank 1st in Europe to Use Anti-Fraud Tool

Turkey's AkBank has become the first lender on the European continent to deploy Fair Isaac's Falcon ID anti-fraud tool, according to the Minneapolis-based company.With Turkey now an aggressive adopter of technology, AkBank takes applications over mobile phones and is initially using the solution to protect its credit card portfolios before using Falcon ID with mortgage loan applications, a Fair Isaac representative said. Falcon ID combines predictive analytics, a sophisticated authentication interview process, and multiple sources of data for validating identities. AkBank will be able to separate applications into three buckets: those that need no review for identity theft, those that have a high risk of fraud, and those that need further review. All U.S. users of Falcon ID are covered by nondisclosure agreements, the Fair Isaac representative said. The company can be found online at http://www.fairisaac.com.