Daiei OMC to Install HNC's Falcon Fraud Detection; Predictive Software Solution Aids Card Fraud Management in Japan.SAN DIEGO--(BUSINESS WIRE)--June 10, 1998--HNC Software Inc. has reached an agreement with Daiei OMC OMC Organisation Mondiale du Commerce (French: WTO) OMC Organización Mundial del Comercio (Spanish: World Trade Organization) OMC Organização Mundial do Comércio , a major retail credit card issuer in Japan, to install Falcon(TM), the world's leading fraud detection solution. Falcon is the flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. of HNC (HNC Software Inc., San Diego, CA) A software company that specialized in products that detect credit card fraud, manage merchant risk, automate lending decisions and home valuations and manage retail inventories. Founded in 1986 by Robert Hecht-Nielsen and Todd W. Financial Solutions' line of real-time, transaction-based, predictive software solutions. It is currently under contract to monitor over 240 million payment card accounts and is generally credited with helping to slow the meteoric me·te·or·ic adj. 1. Of, relating to, or formed by a meteoroid. 2. Of or relating to the earth's atmosphere. 3. rise in credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. losses of recent years. Daiei OMC will apply Falcon to its portfolio of 6 million cardholders and establish an advanced fraud detection infrastructure for security and risk management. "Daiei OMC should be recognized as an issuer aggressively implementing a world-leading risk management solution," said Yoshiaki Hayashida, vice president of Daiei OMC Credit Card Operations. "Our use of Falcon will have a strong impact on the Japanese retail card market and position Daiei OMC very competitively in security and risk management." Daiei OMC selected Falcon over other systems based on its strong reference base worldwide. Other important selection criteria included Falcon's real-time detection capability, the availability of the HNC Fraud Consortium, the Falcon Expert rules subsystem that links with Falcon to streamline fraud prevention operations, and the client/server architecture. Robert North, president and chief executive officer of HNC Software, said, "We are very pleased at the continuing expansion of our customer base in Japan through the addition of a major retail card issuer in the Japanese market. We are delighted to be able to respond to Daiei OMC's sophisticated needs for security and risk management." With headquarters in San Diego, HNC Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HNCS HNCS Host Naval Computer System HNCS Host Navy Combat Systems ) is a world leader in the development and delivery of predictive software solutions in client/server environments. HNC provides innovative predictive software systems in the financial services, retail, insurance information, and electronic commerce markets. For more information, contact Patsy Campbell, Financial Solutions Director of Marketing, HNC Software Inc., 5930 Cornerstone Court West, San Diego, CA 92121, 619/546-8877. For investor relations Investor relations The process by which the corporation communicates with its investors. hotline, call 800/396-8052. Falcon is a trademark of HNC Software Inc. CONTACT: HNC Software Inc. Patricia Campbell, 619/546-8877 pdc@hnc.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion