GE's corporate payments services licenses FMT's FraudAlert

Source: Fraud Management Technologies

Fraud Management Technologies (FMT), the Australian-based provider of anti-fraud and authentication solutions, today announced that the General Electric Company's (GE) Corporate Payments Services division in Europe has selected its FraudAlert product to launch a new solution to enhance security for its white-labelled card customers, including corporate clients from banks including LloydsTSB and Bank of Ireland.

The solution is designed to protect the client as well as the "client experience". The alerting solution utilises the now ubiquitous mobile phone by sending SMS alerts to cardholder's when suspicious transactions are identified.

"Our requirement was for a solution that gave us control of the end-customer experience against possible risk of fraud. We want our customers to know that when we contact them, it's for good reason and not just verification", explained Alan Sambridge, Fraud Prevention Manager with GE. "The FMT solution was deployed quickly for tactical use, but can be extended as a strategic solution with possible implementation across a range of other GE Money products."

Kostas Siourthas, FMT's CEO says "GE and FMT share a common vision of balancing risk management while protecting the end-customer experience". He continues: "We have been working with GE for over 12 months on this solution and have already begun work on extending the investment they have made in FraudAlert to other functions within their business. We are extremely pleased to be working with such a progressive and innovative organisation".

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