A.S.A Releases ScorXPRESS 3.0 'True Name' Fraud Prevention Software.

PITTSBURGH--(BUSINESS WIRE)--Feb. 17, 1999--

Automated Scoring Speeds Up and Strengthens Credit Approval Process

While Reducing Application Fraud and Verification Costs

A.S.A (Advanced Software Applications) announced today it has released ScorXPRESS(R) 3.0, marking a significant enhancement to its fraud prevention software.

Using the latest data mining technology, ScorXPRESS automates an important function in the credit application review process, enabling accurate and instantaneous detection of Application or 'True Name' Fraud.

"Instant credit is an attractive selling strategy for retailers, but it also presents an equally attractive opportunity for fraud perpetrators," said Bill Gossman, president of A.S.A. According to the FBI, this type of fraud is the fastest growing crime today.

When a person walks into a store and fills out an instant credit application, it's sent to a central location where a credit analyst essentially decides two things: Is this person creditworthy? And is this person who they say they are? Credit scoring has been available for years, but issuers continue to struggle with fraud and various verification processes.

"ScorXPRESS represents a tremendous leap forward by providing an accurate, consistent way to help an analyst quickly determine whether an application is fraudulent or not. ScorXPRESS saves a tremendous amount of time and money. Our clients have significantly reduced the costs associated with verification, while reducing fraud and gaining efficiencies of scale overall," said Gossman. "Typically, clients realize a full return on their investment in just three to six months."

ScorXPRESS is the only comprehensive fraud prevention system available that is completely controlled by the credit provider. Customized scores can be created to cover virtually any need, including regional or geographic 'hot zones', most susceptible product lines (such as electronics or jewelry), seasonality, and vulnerable times of the day or days of the week. In the case of private label credit card providers, this customization can be applied to every portfolio that is managed, at no additional cost.

In Release 3.0, nearly every aspect of ScorXPRESS has been enhanced. Thanks to 32-bit processing under Windows 95/98 and NT, the most noticeable advancement is its overall speed and how quickly it allows credit providers to respond to new or changing patterns of fraud. The new release also features a completely re-designed 'tabbed' interface and additional analytic and reporting capabilities, including a Decision Tree that reveals the relationship among the variables that are selected for a model. Other useful information includes Reason Codes and a False Positive Report.

ScorXPRESS uses A.S.A's proprietary method for accessing data from virtually any ODBC-compliant or ISAM database, such as Oracle, DB2, SAS, or Sybase. An updated SQL builder makes it very easy for users to execute even the most complex of queries in order to assemble a project data set. Additionally, ScorXPRESS is now tightly integrated with dbPROFILE(R), A.S.A's solution for custom clustering and profiling, revealing the 'profile' or attributes associated with fraudulent applications.

A.S.A (Advanced Software Applications) is a leader in data mining, data analysis, and decision support offering the only 'hybrid' of advanced technologies -- including neural networks, statistics, CHAID, and Decision Trees -- as automated business applications.

In addition to fraud detection and prevention, A.S.A provides risk management and database marketing solutions. A.S.A is a privately held company headquartered in Pittsburgh, Pa., and distributes its products throughout North America, Europe, Australia, New Zealand, Asia, and South Africa.

ScorXPRESS and dbPROFILE are registered trademarks of Advanced Software Applications Corp.