Concord extends HNC card fraud detection contract
11 March 2002 | 3547 views | 0
Concord EFS has entered an agreement to incorporate HNC Software's fraud detection software into its integrated signature debit card processing platform.
Concord will replace its current fraud detection system with HNC's Falcon Fraud Manager For Debit Cards, which uses neural network technology to predict the likelihood that a signature -based transaction is fraudulent. The risk-assessment score enables issuers to prioritise their investigative resources, focusing on transactions with the highest probability of fraud, says the company.
Ronald Congemi, president of Concord's network services division, comments: "As we integrate our processing platforms, an additional step is to unify services available to customers for increased efficiency while maintaining outstanding fraud detection."
The integration programme runs concurrent with Concord's unification of the Star, MAC and Cash Station networks and the completion of standard operating rules and pricing.