Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial industry, announced today that a top-five global bank has licensed Carreker's Fraud Manager platform and will serve as an early adopter bank for Fraud Manager Deposit.
Carreker's Fraud Manager is an advanced platform that integrates business applications to deliver real-time, industry-leading fraud prevention. It builds upon and leverages Carreker's FraudLink detection solutions installed at more than 100 financial institutions worldwide, which already protect approximately 70 percent of the DDA accounts in the U.S., 90 percent in Australia & New Zealand, and significant proportions in Canada, the U.K., and Ireland.
"This latest client is a long-time user of our fraud-reducing solutions," said John Carreker, President of the company's Global Payments Technology division. "Now, Fraud Manager gives them an integrated platform for incrementally adding new fraud detection modules in the sequence their fraud experience dictates, without sacrificing the value of their previous investments. Because Fraud Manager uses both rules and analytics to identify potential fraud, the business case is much more compelling. We can identify much more fraud and materially reduce false positives."
J. D. (Denny) Carreker, Chairman and CEO of Carreker said, "Fraud Manager is another example of our targeted R&D investment delivering value for our stakeholders. With payments fraud rising rapidly in many forms, and with compliance requirements rising as well, banks are pressured to spend heavily to hold down their exposure. With Fraud Manager and its targeted components, we can leverage what clients have already invested in with a flexible solution that matches their risk strategy and timing requirements."
Other Fraud Manager components in development are targeted at On-Us & deposit, wire, ATMs, Internet, employee, and ACH origination fraud, as well as anti-money laundering (AML).