Chevron is using Falcon to protect its portfolio of 13 million credit cards from fraud losses.
“The Falcon system is already performing above expectations,” said Chevron Credit Bank’s chief credit officer, Steve Peth. “Our fraud analysts are quite excited to be working with a solution that can detect fraud while the perpetrator is still at the gas station.”
Chevron’s system was configured by HNC to detect oil-card fraud. Falcon currently protects more than 300 million credit card accounts from fraud, including 70 million private label cards.
“Chevron is using best-of-breed technology to protect cardholders from fraud and enhance its own efficiency and profitability,” said Michael Chiappetta, HNC Financial Solutions Group vice president of Risk Products.
Headquartered in San Francisco, Chevron is an energy and chemical company operating in 90 countries. It employs about 31,000 people worldwide. Total revenue in 1999 was $36.6 billion.
Headquartered in San Diego, California, HNC Software provides predictive software solutions for service industries, including financial, insurance, telecommunications and e-commerce. HNC’s suite of predictive software solutions can provide real-time insight into customer relationships based on transaction-level data, and create initiatives to mitigate risk and attrition; improve customer service; develop marketing programs, and detect fraudulent transactions.