HNC Delivers Fraud Detection for Stored Value Cards

HNC Software announced the availability of a new fraud detection service for stored value cards.

The service delivers fraud protection from both Falcon, a leading payment card fraud detection system, and eFalcon, a leading real-time payment fraud detection service. WildCard Systems, a provider of high-quality e-payment solutions, is the first stored value card provider to use the service.

"When it came to managing stored value card fraud risk, online payment companies needed an innovative solution," said Allen Jost, vice president, business development, of HNC Financial Solutions, a division of HNC Software. "With the implementation of the new service, now they can leverage the power of Falcon's fraud scoring model to monitor the usage of the card, while employing the real-time Internet capability of eFalcon to assess the risk of the account upon initiation or update."

The Internet represents tremendous opportunities for stored value solutions including electronic coupons, virtual gift certificates, and person-to-person payments. In its recent Internet Payments Report, Jupiter forecasts that 9 percent of Internet transactions in 2003 will be completed with a stored value payment mechanism.

"The use of HNC's technology provides a superior level of fraud protection that really separates WildCard from our competitors and puts us solidly out in front of the market," said Bill Kline, executive vice president and chief financial officer, WildCard Systems. "This technology will provide our partners and their clients with a confidence that they can transact business in both the physical and cyber worlds with a complete sense of security."

HNC's Falcon is a neural network-based predictive software system that examines transaction, cardholder, and merchant data to detect a wide range of payment card fraud. It currently protects more than 360 million accounts worldwide. eFalcon, based on HNC's Falcon payment card fraud detection technology, distinguishes between legitimate and potentially fraudulent Internet and other card-not-present shoppers and delivers a score to the merchant in real time.

About WildCard Systems

WildCard Systems is an e-payment company that is the technology leader for electronic stored value accounts and related Web-based software. Stored value (prepaid) type products, particularly those designed to make purchases on the Internet, represent the biggest untapped market for consumer payments. WildCard's secure e-transaction platform is supported by a full range of services to deliver a complete host-based stored value solution for a wide range of vertical markets. The company has been selected by Visa, USA as a Preferred Processor for stored value payment systems. WildCard's clients include leaders in each of its vertical markets and the top financial institutions in the country. Founded in 1997, WildCard Systems is a privately held, venture capital backed company. The company is headquartered in Sunrise, Fla., with offices in Silicon Valley, Orlando and Atlanta. For more information, visit www.wildcardsystems.com.

About HNC Financial Solutions

HNC Financial Solutions is a leader in the development of intelligent customer value management software solutions for the financial services and e-commerce industries. Its powerful suite of real-time decision platforms and predictive business solutions allows firms to automate new account decisioning, optimize marketing efforts, detect fraud, predict profitability, and manage the customer lifecycle. HNC Financial Solutions supports this suite of solutions with a full range of consulting services.

About HNC Software Inc

HNC Software is a leading provider of Intelligent Response, decision management and customer analytics software that enables companies in the financial, telecommunications, e-commerce and insurance industries to acquire, manage and retain customers. For more information, visit www.hnc.com or contact Melinda Bateman at 858-799-8370.

Contact HNC Financial Solutions, Patricia Campbell, 858-799-8206, pdc@hnc.com or WildCard Systems, Paul Smith, 650-622-2067, paul.smith@wildcardsystems.com.