Actimize Delivers ATM, Debit Fraud Prevention Capabilities to MasterCard
October 02, 2008
MasterCard has deployed the Actimize technology to augment its ATM and Debit fraud detection capabilities for issuers.
Actimize, a provider of transactional risk management software for the financial services industry and a NICE Systems (News - Alert) company, recently acquired proven analytic models used today by MasterCard in its Fraud Monitor service, a real-time risk scoring and fraud prevention service for PIN-based transactions offered by MasterCard to its customers.
Used and tested by clients such as MasterCard and other card issuers, the technology can successfully fight ATM and debit fraud effectively across multiple card brands and geographies.
According to company’s sources, the Actimize fraud detection analytics are unique in that their multi-dimensional profiles can be created and updated in real-time to detect suspicious activities at the card, device, account level and many other dimensions.
Bruce Rutherford, group head, MasterCard noted that MasterCard, the industry's security innovator and a global debit card leader, values their new relationship with Actimize in delivering value-added real-time risk scoring and fraud prevention solutions to their customers.
MasterCard has already received affirmation of the value of this solution from their customers who use this technology and is looking forward to further evolving the technology and models, added Rutherford.
According to Amir Orad, EVP and CMO of Actimize, their strategy is to offer a unique combination of the best ATM and debit fraud analytical solution with a proven scalable enterprise fraud platform. The fact that Actimize’s technology has been selected by MasterCard and offered to their members worldwide means a lot to Actimize and their customers.
Actimize also recently announced that Metavante, a provider of banking and payments technology has chosen its solutions to support its enterprise-wide fraud monitoring and reporting efforts.
Metavante decided to introduce Actimize’s real-time, fraud prevention analytics solutions as one component in an enterprise-wide fraud prevention framework.
Anuradha Shukla is a contributing editor for TMCnet. To read more of Anuradha’s article, please visit her columnist page.
Edited by Stefania Viscusi