Content area
Full Text
For demonstrating excellence in devising a unique and effective scoring model, Wilmington, Del.-based First USA won the second annual CRMR Best Scoring Model Implementation Contest for its transaction application (TRAP) scoring system. The product functions as a self- contained "black box," meaning users get a score indicating the likelihood of a fraudulent application, says K.K. Srinivasan, developer of the model at First USA's risk management division. The product also helps First USA prioritize which accounts it works on first because TRAP identifies a greater percentage of actual fraud cases than is possible with manual identification, says Charles Lee, an officer in the risk management division.
TRAP was created based on application, credit bureau and transaction information. "It combines information from applications and transactions...