16 July 2018
Visit www.gemalto.com

First Data launches card fraud detection system

04 November 2002  |  6696 views  |  0 First Data launches card fraud detection system

First Data Corporation is to provide European card issuers with First Alert, a power-dialling, natural language voice authentication system developed in association with Adeptra and designed to help in the earlier detection of payment card fraud.

First Alert automates the repetitive tasks undertaken by human contact centre staff by telephoning cardholders in suspected fraud cases, trying all contact numbers in turn, based on rules set by the issuer. Once located by the system, cardholders are authenticated using natural language speech technology and are asked to verify any suspect purchases. Fraudulent transactions are referred for further investigation.

Richard Cooper, client consultancy director at First Data, says: "First Alert allows our clients' fraud agents to talk to more cardholders that have had fraud perpetrated against their cards sooner, helping us to detect fraud earlier."

The First Alert system is already in production in the US and is now being luanched in Europe.

First Data's launch of the technology coincides with the release of new figures from CardWatch that show a spiralling rise in the incidence of card fraud in the UK.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

First Data establishes Chinese payment processing operation

First Data establishes Chinese payment processing operation

17 October 2002  |  2989 views  |  0 comments
First Data wins $100m Westpac card processing contract

First Data wins $100m Westpac card processing contract

01 October 2002  |  4801 views  |  0 comments
JPMorgan Chase extends First Data debit card contract

JPMorgan Chase extends First Data debit card contract

25 September 2002  |  3701 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit www.aciworldwide.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10553 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9570 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8113 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8106 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7659 views comments | 7 tweets | 13 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY USA

Find your next job