PostFinance expands partnership with Fico for fraud prevention
The Swiss digital bank PostFinance is expanding its partnership with Fico and will also use Falcon Fraud Manager for debit cards going forward. In addition, Fico Customer Communication Services will be introduced to contact customers more quickly and effectively in cases of suspected fraud.
PostFinance, Switzerland's leading digital bank, is strengthening its partnership with Fico to optimize fraud protection and improve customer communication. The bank is extending the use of Fico Falcon Fraud Manager to debit cards and is also introducing Fico Customer Communication Services (CCS). This extension will enable PostFinance to contact customers even more quickly and specifically in the event of suspected fraud.
PostFinance serves a total of 2.4 million customers in Switzerland and processes around 4 million transactions worth CHF 5.9 billion every day. This means that the digital bank processes around a third of all Swiss debit card transactions, both in Switzerland and abroad.
Reliable protection around the clock
"The Swiss population relies on us to guarantee the highest level of protection against fraud," says Stephan Zimmermann, Head of Customer Security at PostFinance. "Over the past five years, we have built a trusting relationship with Fico. Thanks to Fico's leading technology in the field of fraud prevention, we can offer our customers reliable support around the clock."
"We need immediate communication with our customers as soon as we suspect a fraud attempt," explains Christoph Stettler, Senior Security Officer at PostFinance. "Fico's solutions for fraud detection and customer communication enable us to reach our customers via their preferred communication channel and thus further optimize both security and the customer experience."
AI-supported fraud detection
Fico Falcon Fraud Manager protects PostFinance's large transaction volume using artificial intelligence based on more than 100 patents in the field of fraud detection. The solution is considered the world leader in the detection and prevention of payment fraud and currently protects over 4 billion payment cards worldwide.
"This deepened partnership drives the digital development of PostFinance and strengthens its position as the leading digital bank in Switzerland," says Jens Dauner, Vice President Central Europe at Fico. "It underlines PostFinance's commitment to not only meeting the expectations of its customers, but exceeding them."
