16 October 2017

First Data launches card fraud detection system

04 November 2002  |  6588 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  |  2908 views  |  0 comments
First Data wins $100m Westpac card processing contract

First Data wins $100m Westpac card processing contract

01 October 2002  |  4650 views  |  0 comments
JPMorgan Chase extends First Data debit card contract

JPMorgan Chase extends First Data debit card contract

25 September 2002  |  3599 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14300 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13026 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8934 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7836 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7564 views comments | 13 tweets | 13 linkedin

Featured job

circa £250K total package
London

Find your next job