Europay and MasterCard fight card fraud with SMS
16 May 2002 | 7399 views | 0
Europay and MasterCard have launched the next generation of their fraud prevention product Aristion offering financial institutions a new portfolio of plug-in modules.
Aristion's Communicator module enables a card fraud alert to be sent directly to fraud investigators or to the cardholder using an SMS (Simple Message System) or e-mail message.
The DataViewer module allows financial institutions to view their classification results and examine transactions that match their defined rules in detail.
FraudTracker is a complete multi-user case management module to track the different stages of a fraud investigation. FraudTracker can be customised by creating the steps and actions required by an investigation team. All analysts can investigate cases using the same procedures, helping to improve the efficiency and performance of staff.
Peter Warner, head of fraud and security, Europay International, says: "With Aristion's data analysis and monitoring abilities, banks can now tailor the alert system to become an effective communication service. In this way, cardholders can be invited to sign up for SMS and e-mail prompts on a range of options, such as loyalty point goals being reached, information on best buys and special offers triggered by the individual's purchases."
Citibank, an existing user in the UK, has initiated a pilot with the second generation of Aristion and the FraudTracker plug-in module to monitor its debit card portfolio.