Fico has developed fraud protection technology which checks a person's location, via their mobile phone, against the location of the ATM or point-of-sale terminal where their card is being used.
In UK trials the Fico Proximity Location service, developed with ValidSoft, has slashed the number of 'false positives' on overseas transactions by up to 70%, says the vendor.
Fico says several British banks are now developing deployment plans to roll out the technology and give their customers the option to register their phones for the service.
Gabriel Hopkins, senior director, product management, Fico, says: "Proximity correlation adds a powerful new tool that can help banks eliminate a great source of frustration for their customers who travel. With this service, cardholders can use their cards in other countries with significantly lower risk of being declined."