These models are now available for FICO clients in the region, and show a marked increase in predictive power compared to previous models -- the amount of fraud detected at a false-positive ratio
of 10:1 increased by 56 percent for the UK/Ireland models, and 24 percent for the Europe models.
Three components should be incorporated into an effective and accurate fraud-detection solution--review rate, fraud-detection rate and false-positive ratio.
A false-positive ratio indicates how many applications, on average, will not contain fraud for every confirmed instance of fraud detected at the threshold.
Now the spam has vanished, with a false-positive ratio
lower than 0.
The technology has proven to be effective, processing millions of transactions with an 80 percent fraud reduction rate and an unsurpassed false-positive ratio
The technology has proven to be very effective, processing millions of transactions with an 80 percent fraud reduction rate and an unsurpassed false-positive ratio