SoundBite Fraud Management Solution is set to enable card issuers to design interactive text, voice and e-mail messaging strategies to automate card fraud resolution. Furthermore, SoundBites Real-Time Fraud Module allows card issuers to integrate with any fraud detection or case management system.
SoundBite’s platform sends a text message to the cardholder’s mobile phone as soon as the card issuers fraud detection engine detects potential fraud. The cardholder can approve the transaction with a text message response and SoundBite updates the account status. In the event the cardholder refuses to perform the transaction, SoundBite will connect the cardholder to a fraud specialist.
The product launch has been preceded by a survey ordered by SoundBite Communications and carried out by Harris Interactive in March 2010, according to which 89 percent of the respondents would prefer to be notified of potential fraud by multiple forms of communication, including phone calls, text message and email.
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