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Fraud Solution

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Our unique approach to fraud management empowers FIs to proactively generate and send real-time mobile fraud alerts to their customers and enables them to instantly take action by replying. By immediately notifying FI customers of any potentially fraudulent activity, changes or transactions, our Fraud Solution enables them to swiftly identify and resolve fraud incidents and to quickly detect false positives. This creates an active partnership with bank customers in fighting fraud across multiple products – such as Checking Accounts, Cards, Online Banking and Business Services - and accelerates the identification of compromises across multiple servicing channels.

This approach does not displace the fraud management and detection systems currently in place at FIs. Rather, it accelerates the identification and resolution of potentially fraudulent transactions, which are either customer-defined (e.g. triggered by customer-specified alert preferences) or FI-defined (e.g., detected by the FI's fraud analytic system based on the FI's business rules).

FIs can leverage the mobile channel to effectively identify initial fraud incidents, resolve compromises and mitigate recurring fraudulent activities, all of which lead to reduced fraud losses for both FIs and their customers.

Fraud Solution Package

Our packaged Fraud Solution includes the following elements:

  • Alert Bundles: Alert definitions and templates for the most common account and transactional activities that need monitoring, based on FI business rules and customer preferences. Custom alerts can be built specific to the FI's environment.
  • Workflows: Can be customized by both FIs and customers with the workflow engine in our solution's platform to ensure alignment with the existing fraud management ecosystem.
  • Any Channel Enrollment: Customers may enroll for mobile fraud alerts via any customer service channel, including web-based enrollment, mobile web, Smart Client applications (for iPhone, Android and BlackBerry smartphones) and through assistance from customer service representatives.
  • Connectors: Integrates with the FI's back-end systems, including the card processing system, fraud analytics, case management, call center and IVR systems. Connectors can be customized to fit the FI's existing ecosystem.
  • Reporting: Enables FIs to view a variety of behavioral and activity metrics, including customers enrolled in fraud alerts, alerts sent per customer by time period, respondents for each response option, and the state (e.g., responded, expired or open) of each alert. Both standard and ad-hoc capabilities are available.