The Card Sentry risk mitigation system from Computer Services, Inc. (CSI (News - Alert)) now includes ReD PRISM fraud-detection capabilities. Incorporating fraud prevention and payment services from ReD improves overall fraud-monitoring services and allows CSI to better integrate and manage customer relationships.
ReD PRISM is a fully managed fraud-mitigation service, incorporated directly in CSI's Card Sentry offering. The solution uses dynamic rule strategies to determine the likelihood that a transaction is fraudulent, and features a monitoring and detection system to reduce the number of fraudulent transactions that occur before the fraud is identified and cards are blocked, reducing overall fraud losses.
The enhanced offering expands the Card Sentry solution's case management and workflow capabilities and enhances CSI's data analytics while helping to determine any potential points of compromise. In addition to delivering fraud-management capabilities for issuers, acquirers, processors and switch networks, ReD PRISM is available as a managed service offering predictive and neural scoring, as well as rules-based technologies that provide real-time and near real-time fraud decision-making.
It is also offered as a licensed solution.
The Card Sentry also helps banks proactively manage the risks of card fraud by detecting unusual activity based on known patterns in either account or transaction history. It works by scanning transactions and comparing them in near real time to industry standard rules, written to match specific and identifiable fraud trends. The incorporation of ReD PRISM lets CSI enhance and manage the information that is available to their custom rule strategies.
"We made the strategic decision to incorporate ReD PRISM into Card Sentry to ensure our customers continue receiving an industry-leading fraud-protection service that prevents and/or mitigates our banks' card fraud losses," said Derrick Bretz, product manager at CSI. "To grow and strengthen our product, we understand the importance of working with a partner that supports our short- and long-term business objectives. ReD understood our vision and provided a solution to meet our needs."
"Losses from card fraud are a major concern for banks and their customers," said Kevin Sprake, president, for ReD North America. "Staying ahead of fraudsters is a daily issue and we stand behind our commitment to innovate and create leading solutions that mitigate fraud. We listen to our customers and take pride in providing solutions that are ahead of the game. We also understand the importance of offering technology that is flexible and can quickly and easily integrate into existing offerings."
Edited by Braden Becker