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+ Techno World Inc - The Best Technical Encyclopedia Online! » Forum » GENERALLY GENERAL » News / Announcements / Requests / Suggestions
 Alaric Launches A Unique “On Premises” Solution for Optimal CNP Fraud Prevention
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Author Topic: Alaric Launches A Unique “On Premises” Solution for Optimal CNP Fraud Prevention  (Read 18868 times)
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Global fraud prevention and payments company, Alaric International (www.alaric.com), has announced the launch of its “on-premises” Fractals Fraud Integration Hub (FIH). Primarily targeted at Online Merchants and Payment Service Providers, FIH enables such organisations to take a best-of-breed approach to detecting and preventing Card Not Present fraud.

FIH enables clients to write fraud detection rules and to use intelligent fraud detection models which span data from both clients’ internal systems and from specialist third party SaaS data providers for key fraud indicators such as device identification/reputation, IP geo-location, mobile location and address verification.

FIH is the only system to adopt this “on-premises” approach. It incorporates Alaric’s renowned Message Mapper product which greatly simplifies the process of integrating FIH with clients’ internal systems enabling it to be put into live use quickly and cost effectively. Fractals FIH is also the only fraud prevention system to be PA-DSS (Payment Application–Data Security Standard) certified.

Using FIH, clients can configure fraud rules on-the-fly, without having to disrupt their workflow by breaking out and setting rules in multiple SaaS providers’ web portals. FIH can be deployed tightly integrated with clients’ payment systems to maximise fraud prevention via true real time, in-flight blocking of fraudulent transactions.
FIH also includes a fully configurable alert and case management capability and a centralised transaction data warehouse which clients can use for data mining, research and CRM purposes.

With the increasing levels of internet and mobile payments, CNP Fraud is now a major issue for payment service providers and online retailers alike. The likelihood of a CNP transaction being fraudulent is far higher than for card present transactions. To date though, most fraud prevention vendors offer only limited ‘single-aspect’ datasets such as geolocation, address verification or device information to validate transactions.

As Fractals FIH integrates data from a client’s own internal systems and multiple ‘best-of-breed’ external datasets, the highest possible levels of fraud detection and prevention are ensured.

For clients with a bricks-and-mortar as well as online presence, FIH’s multi-channel integration capability means that it is uniquely able to monitor and prevent fraud across both in-store and online channels holistically via a single system.

Commenting on the launch Mike Alford, Alaric’s CEO said, “CNP fraud is a serious and growing threat to Online Merchants and PSPs. Indeed, there have been a number of spectacular mass data breaches recently which have led to large numbers of card details getting into the hands of criminals who then use these for fraudulent online purchases. What PSPs and online merchants really need is an on-premises solution which enables them to use best-of-breed commercially available data feeds and relevant data from their own internal systems and to be able to detect and block frauds in true real time, in-flight before any loss is incurred. By having the Fractals “on-premises” fraud prevention solution in place, they can achieve this. We believe that Fractals is unique in taking this ‘on-premises’ approach. Given the far superior detection performance possible with Fractals FIH we expect that this new approach will soon set the standard for combating CNP fraud in the market.”

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