The newly launched system, which is aimed at protecting online merchants and payment service providers, is also Payment Application–Data Security Standard (PA-DSS) certified.
By integrating a client’s existing internal feeds with multiple external data sources, Fractals FIH acts as a centralised fraud prevention hub and uses holistic techniques to combat Card Not Present (CNP) fraud. The system also includes a configurable alert and case management capability as well as a centralised transaction data warehouse.
The system’s multi-channel mapping and integration features allows users to create their own fraud detection rules. These rules are created using Fractal’s browser-based GUI interface. In addition, the external datasets used in the process can be updated to match the user’s specific requirements. Client-specific, automated mathematical CNP fraud detection models can also be used alongside the rules-based fraud detection deployed.
UK-based provider Alaric offers financial institutions such services as payments authorisation, payments integration as well as fraud detection.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now