Payment fraud prevention solutions for processors
A value-added service
The ReD PRISM® fraud prevention solution enables processors to provide efficient and effective fraud protection for card issuers and merchant acquirers who choose to outsource this service. Processors can build a multi-institution solution that is effective at preventing and detecting fraud for all participants. Market data and perspectives obtained by the processor can also be provided to customers as added-value market assessments that will help them to better understand and mitigate fraud.
A powerful, industry-leading fraud management solution
The ReD PRISM® solution delivers industry leading fraud management capabilities for processors, issuers, acquirers and switch networks. ReD PRISM® is available both as a licensed solution and a managed service and utilizes predictive modeling techniques and rules-based technologies to provide real-time (RT) and near-real-time (NRT) fraud decisioning.
The solution’s predictive analytics capability is underpinned by powerful custom neural models and takes into account a variety of factors in arriving at a fraud recommendation. ReD PRISM® can be enhanced to identify points of compromise and to develop new fraud rules dynamically. The solution supports all card types, irrespective of card brand.
ReD PRISM® provides the ability to decline transactions in real-time, as part of the authorisation decision, with further monitoring being carried out post authorisation. This reduces the number of fraudulent transactions which occur before the fraud is identified and the cards are blocked, reducing overall fraud loss.
The ReD PRISM® suite is engineered to provide a highly scalable, long-term solution that brings efficiency gains to fraud operations. ReD PRISM® components can be implemented in a variety of combinations to build an extremely powerful fraud solution tailored to the needs of each individual customer.
Benefits of ReD PRISM®, the intelligent fraud prevention solution:
- Full multi-tenant capability enabling consistent fraud management support for issuers and acquirers with both full service and self-service options
- Ability to offer as a managed service to smaller financial institutions
- Supports transaction screening in real-time, with sub-second responses to prevent fraud as it happens
- Enables improved customer service when transactions are declined
- Enables detailed analysis of transactions to protect against future fraudulent attacks
- Isolates potentially compromised cards so that action can be taken before the cards are used fraudulently
- Supports enhanced merchant risk profiling and accurate identification of fraudulent merchants
Please contact us for further information on our ReD PRISM® fraud prevention solutions for processors.