First Data Europe, Europe’s largest card transaction processor and subsidiary of First Data Corporation, and Fair, Isaac and Company, Incorporated, announced that FDE has completed implementation of an upgraded version of TRIAD(TM) adaptive control system, Fair, Isaac’s leading account management system. The greatly enhanced TRIAD enables the card transaction processor to provide issuers with more profitable account management strategies.
Fully integrated with FDE’s host system, this recent TRIAD upgrade improves client decisioning capability in numerous ways, including extensive management information to facilitate better analysis of the potential for reducing risk and/or maximizing profitability; an estimator feature for assessing new strategies before actual promotion; a greatly enhanced number of selectable decision keys; and minimized administrative effort involved in maintaining risk strategies. In summary, this upgrade provides greater flexibility and speed in terms of developing a wider variety of actions according to risk, profitability and other considerations for building customer lifetime value.
Gerald Hawkins, CEO of FDE commented, “TRIAD has proven to be a very reliable account management tool in helping our clients attract and retain more profitable customers. We are very excited to provide this upgraded version of TRIAD as part of our outsourced offering. This will enable our clients to access Fair, Isaac’s latest strategy tools and decision capabilities.”
“Fair, Isaac and FDE share a decade of delivering TRIAD as a high-quality account management solution to card issuers in Europe, and TRIAD has delivered huge benefits to their clients,” said Andrew Jennings, Vice President, Global Processor Alliances market, Fair, Isaac. “Our ongoing commitment to upgrading and enhancing TRIAD ensures that the system will continue to help issuers deal with their evolving account management demands, and we look forward to working with FDE to expand the availability of TRIAD further into Europe and new markets.”
A representative of the Co-operative Bank, which has been processing with TRIAD through FDE since 1997, considers the upgrade highly significant and timely. “To maintain a competitive advantage and to ensure that we provide the best service possible to our customers, we’re always looking ahead for advanced solutions in the market,” said Dave Hill, Credit Risk Manager of the Co-operative Bank. “This is especially true in today’s uncertain economy. TRIAD’s highly improved functionality and flexibility will help us improve individual account level treatment in strategic decision areas and increase our overall portfolio profitability.”
FDE first offered TRIAD in 1991 and is currently processing in excess of 14 million customer accounts through TRIAD each month. The system allows users to apply Fair, Isaac’s analytics and decision technology to optimize key areas of account management, including credit lines, delinquent collections, over-limit balances, transaction authorization, card reissue, performance-based pricing and marketing communications.
The TRIAD upgrade is part of FDE’s ongoing “Project Genesis,” a series of IT initiatives designed to bring additional flexibility and functionality to the First Data Europe platform.
About First Data Europe
FDE is the leading independent third party transaction processor in Europe and Europe’s leading Internet-only processor. FDE services major banks and financial institutions in the United Kingdom, Germany, Spain, the Netherlands and the Middle East. It has been active in the UK for 10 years and is part of the US First Data Corporation. For more information, please visit the company’s Web site at www.firstdata.co.uk.
About First Data Corp.
First Data Corp. (NYSE:FDC), with global headquarters in Denver, powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 2.8 million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services using virtually any form of payment. With 29,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western Union(R) money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Canada, Mexico, Spain and Germany. Its money transfer agent network includes approximately 120,000 locations in more than 185 countries and territories. For more information, please visit the company’s Web site at www.firstdata.com.
About Fair, Isaac
Fair, Isaac is the pre-eminent provider of creative analytics that unlock value for people, businesses and industries. The company’s predictive modelling, decision analysis, intelligence management and decision engine systems power more than 14 billion decisions a year. Founded in 1956, Fair, Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce risk and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair, Isaac’s analytic solutions, as do insurers, retailers, telecommunications providers and other customer-oriented companies. Through the www.myfico.com Web site, consumers use the company’s FICO(R) scores, the standard measure of credit risk, to manage their financial health.
Headquartered in San Rafael, California, Fair, Isaac is traded on the New York Stock Exchange (NYSE:FIC) and for the fiscal year ended September 30, 2001, reported net income of $46 million on revenues of $329 million. For more information, visit www.fairisaac.com.Details