Governance, Risk & Compliance

Governance, Risk & Compliance

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October 31, 2012

Equens to Help Combat Financial Fraud with INFORM's RiskShield



Where financial transactions are involved, the threats of risk and fraud are always present and in the card and payment processing industry, staying ahead of fraud trends or even keeping pace requires a marathon effort.

To help such industries, Equens, one of the largest pan-European card and payment processors, decided to team up with INFORM GmbH, which has designed RiskShield to support multiple channels, transaction types and fraud modus operandi to work in real-time.

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"Factors such as speed and flexibility played a major role in the selection process," said Eric Luijks, general manager of risk management at Equens SE. "Every client has their own offerings and requirements for transaction processing. “

With RiskShield, Equens has further strengthened its European risk and fraud management service proposition and will be well positioned to offer customized fraud management services to issuers and acquirers, noted company officials.

The fraud detection tool claims to signal a new approach to fraud detection and behavior monitoring. While it will monitor millions of transactions for suspicious characteristics, it is agile enough to change its approach as new modus operandi are introduced.

Equens' knowledge and expertise in risk and fraud services in the European market combined with INFORM's fraud detection and behavior- monitoring capability presents a strong fraud risk and management solution

"Fraud is an ever-present threat to financial transactions which appears in many forms and can quickly morph into new manifestations. Every transaction channel is challenged by fraud,” noted Andreas Meyer, director of the risk and fraud division at INFORM.

With RiskShield, Equens' dynamic detection models will provide clients with real-time risk scoring, fraud analysis and monitoring services that are fully integrated into the company's core processing systems.

Such solutions are ideal for banks and their customers as they help in increasing security in payment processing, combating fraud and minimizing the resulting losses.

BORICA-BANKSERVICE AD, Bulgaria's national clearing house, and Equens SE recently signed a bilateral agreement for the exchange of SEPA Credit Transfer (SCT) payments. This 10th inter-CSM agreement underlines its continuous dedication to SEPA. The partnership is scheduled to go live before the end of this year.




Edited by Rachel Ramsey
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