Syntel, a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that it has signed a partnership agreement with Global Analytics to provide bankcard fraud detection services for its customers worldwide.
As a Global Analytics' global preferred partner, Syntel will work with Global Analytics to customize and implement fraud detection and prevention solutions for existing and prospective clients.
Global Analytics' Fraud Antibodies solution provides online and offline fraud detection with analytical models that detect fraudulent transactions in large databases and high-volume transaction streams, enabling bankcard issuers to identify and mitigate fraudulent transactions in real-time. Its Merchant Acquirer Risk Management System (MARS) is another predictive system that uses artificial intelligence models trained with historical data to recognize risk by identifying complex behavior patterns that have preceded prior losses.
"As new threats and new types of fraud evolve every day across the globe, fraud detection has become very challenging," said Keshav Murugesh, Syntel's President and CEO. "Businesses of all sizes are looking for cost-effective, robust and easily deployable fraud detection solutions. Our partnership with Global Analytics strengthens our solution offering in this space and will provide significant advantages to our customers."
"We are extremely pleased that Syntel is joining us as a global implementation partner," said Ted Crooks, Vice President of Global Analytics. "Their deep customer base, commitment to innovation, and successful track record in custom development work will enable us to provide faster product implementations and a higher level of customization."