Hbos signs for SAS card fraud detection technology
31 January 2008 | 5719 views | 0
UK banking group Hbos is implementing card fraud detection technology supplied by business intelligence software vendor SAS which it will use to monitor debit card transactions.
SAS says Hbos has signed a seven year deal for its Fraud Management product, which it developed in partnership with HSBC.
Hbos will initially use to monitor debit card transactions for suspicious and fraudulent activity. SAS says the technology will examine each and every HBOS debit and ATM card transaction in real-time.
The fraud detection system provides the option for Hbos to extend its use to cover other types of transactional fraud, including banking and credit card fraud.
Ian Fielder, head of risk operations at Hbos says the SAS software was chosen for its "potential to provide a single platform that can be extended throughout the enterprise".