CHICAGO, Dec. 19, 2006 (PRIME NEWSWIRE) -- Analytic Innovations, LLC, a leading provider of data-driven analytic solutions, today announced the launch of the company's new fraud risk analysis business unit and the hiring of Jeffrey M. Trachtman as vice president and manager of the new unit. Trachtman is a long-time veteran of the payment card industry.
Analytic Innovations' new fraud risk analysis unit is focusing initially on debit card portfolio fraud, providing debit business managers a data-driven framework to make strategic fraud-management decisions that enable a quantifiable improvement in debit portfolio profitability. Analytic Innovations is already working with two of the nation's largest debit payment processors to analyze data from debit issuing banks, across areas including:
-- Cardholder behavioral analysis, reviewing the impact to behavior
and profitability when cardholders are affected by a fraud event
or mass data compromise reissue
-- Purchase-limit evaluation, analyzing and deriving appropriate
debit purchase limits at the cardholder level and calculating
the reduction in risk at the portfolio level
-- Neural network review and evaluation, calculating how
effectively a bank's neural network is predicting fraud, and the
most cost-effective case management strategies
"Jeff is a debit industry veteran. He is bringing invaluable experience, expertise and ingenuity to Analytic Innovations," said Stuart Taylor, president and chief executive officer of Analytic Innovations. "He will be a cornerstone of our initiative to broaden our offerings in fraud risk analysis, especially in using data-driven analysis to better detect and manage fraud risks in the area of debit card transactions."
"Debit fraud continues to become much more sophisticated over time," Trachtman said. "We believe industry players will need to develop their debit fraud analytic capabilities and borrow some best practices from the credit card industry to meet the challenge. Analytic Innovations has developed a data-oriented approach allowing issuers and processors to evaluate their portfolio at the cardholder and transaction level -- enabling debit managers to make increasingly intelligent, profitability-enhancing decisions over time."
Trachtman has been in the debit and credit card industry since the early 1990s. He has worked for many of the key card industry participants, including Visa U.S.A., Fifth Third Processing Solutions and First Data Debit Services.
About Analytic Innovations, LLC
Analytic Innovations is a leading provider of data-driven marketing solutions to companies with large customer portfolios, including credit and debit card issuers, retail banks, insurance companies and others. Founded in 1988 as Krumm & Associates, the company pioneered the evaluation of individual-level behavioral data to provide clients unique insight into their customers' behavior. Clients use this knowledge to improve their marketing ROI, expand customer relationships and increase profitability. More information can be found on the company's Web site, www.analyticinnovations.com.