Real-time card fraud and ATM crime detection For Card issuers and payment service providers
Payment card fraud has been around for decades now, but since the introduction of cyber technology and e-commerce, it has increased significantly over the last 10 years. RiskShield offers card issuers and payment service providers a real-time fraud detection solution and protects the cardholders from compromised cards and Card-Not-Present fraud.
Overview
Banks and financial institutions have always been a target for criminals. However, in today’s progressive technology age and given the exponentially growing online crime activity, financial institutions are finding it difficult to stay ahead of the curve and mitigate risks from fraud. RiskShield provides card issuers with real-time monitoring technology and high-performance analytics to protect them against losses from fraudulent card usage. RiskShield detects and prevents fraud utilizing credit cards and debit cards at ATMs as well as Card-Not-Present fraud.
RiskShield is an intelligent and fast fraud detection system that can assess these risks and block fraudulent transactions from further processing within just milliseconds.
Today RiskShield protects over 145 million payment cards against fraud in payments and saves banks and card issuers millions every year. Card issuers and payment service providers who have replaced their fraud prevention systems with RiskShield report of a 30% reduction of fraud damage losses.
Contact
Esther Mathias
Consultant
Tel: +49 (0) 2408 9456 5000 riskshield@informinform-software.com
Features
- Real-time detection
Block compromised cards and Card-Not-Present fraud in just milliseconds with RiskShield high-speed fraud detection architecture.
- Multi-channel monitoring
Discover complex fraud schemes by monitoring data through multiple payment and customer service channels.
- Seamless integration
Easily integrate into the issuer's bank existing card authorization system with open and highly configurable interfaces
- Online rule management
Adapt anti-fraud scenarios on the fly with intuitive and user- friendly rule management
- Warning notifications
Automatically trigger warning notification messages to customers and other processes such as new card initiation.
- All card-based transactions
Cover any type card-based transactions, from debit, credit, mobile wallets, prepaid as well as EMV and PIN/Signature cards.
- Case Investigation
Deliver an integrated alert work-flow management solution with case management and forensic investigation tools.
- Management Information
Provide live graphical dashboards for business intelligence and custom report capabilities for scheduled and ad hoc management reporting.
- Proven technology
Protecting more than 250 million payment transactions per day against first-party, CNP and counterfeit fraud and save banks and card issuers millions every year.
Risk-based Authentication
Risk-based Authentication for 3D-Secure 2.0
Security is crucial for all online transactions but so is customer convenience. Not every transaction however carries the same level of risk. With the right data, customer profile and risk assessment tools, 90-95% of all transactions could be safely processed without adding an additional authentication step.
RiskShield provides a complementary solution for 3D-Secure and 3D-Secure 2.0 methods, such as MasterCard SecureCode and Verified by Visa to protect cardholders and merchants from e-commerce fraud. Instead of an additional 3D-Secure password check for every transaction, RiskShield Risk-base Authentication delivers a reliable decision engine to risk assess every single transaction. Based on the risk score RiskShield can trigger the right authentication process to lower the inconvenience for customers during the process of the online purchase. RiskShield can even act as an anti-fraud safety net – safeguarding against passwords that might have been stolen.
Real-time Skimming Fraud Detection
Real-time Skimming Fraud Detection
ATM crime fraud continues to be a significant problem around the world. Every day thousands of debit and credit cards are compromised by payment terminals that have been hacked for the purposes of stealing card data and PINs from unsuspecting users.
INFORM has developed an intelligent detection solution that is making use of the modus operandi of ATM skimmers. This translates to stopping fraud faster, more intelligently and efficiently. By looking at millions of card transactions, RiskShield technology is able to monitor incoming transactions and match cards, which has been used at the same payment terminal previously.
Sounds impossible? With RiskShield smart algorithms and our extremely high performing architecture, INFORM can monitor billions of data and stop transactions by counterfeit cards even before the fraudsters can use them.
References
Contact
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