Auto-resolution technology provider recognized for excellence in credit industry; bank sees increase in consumer fraud detection and prevention

Reading, UK – 09 May 2011 – Adeptra, the leader in Auto-resolution technologies that span the consumer lifecycle, has been selected as a technology finalist for the 2011 Credit Today awards. Adeptra has been shortlisted in the ‘Best Use of Technology’ category for Santander’s use of its solutions.

Now in its 12th year, the Credit Today awards recognise leaders and influencers within the credit industry. Entrants are evaluated throughout a rigorous and independent judging process within 22 categories to give an extensive representation of the industry.

Those entered in the ‘Best Use of Technology’ category were critically judged by a panel looking to identify a clear, demonstrated advantage that technology-based solutions were able to offer. Widening the field of entrants, applicants were asked to show a complete adaptation of the technologies within a company’s infrastructure, through either software or business methods. Santander’s entry was centered on its successful use of Adeptra’s automated customer communication solution.

The shortlisted entry highlighted the company’s use of Adeptra technology which initiates a call to the customer in real-time, triggered by alerts that are generated by transaction monitoring systems. The automated process uses pre-recorded scripts and text-to-speech technology to interact with the cardholder, validating their identity, and providing consumers with the opportunity to confirm a number of transactions. If the cardholder is unable to verify their identity or recent transactions, they are immediately connected with a fraud agent to investigate further.

With Santander’s use of Adeptra’s technologies, customer contact is now typically made within 30 seconds of the point of sale transaction. Based on this increase in the speed to first contact, Santander has seen an overarching increase in the speed of fraud detection. This change to the fraud notification and resolution process means that customer funds are better protected and lead to an improvement in customer satisfaction levels.

Karen Tyler, head of fraud strategy at Santander said: “In today’s connected world, fraud has become more prevalent than ever before. Being able to recognise, flag and resolve fraud situations faster and more efficiently is of great value to each of our customers, and Adeptra’s technology has made that possible. This nomination acknowledges the efforts we’ve made to put our customers first, and it’s a great honour to be selected as a finalist for one of our industry’s most prestigious awards.”

Bill Brown, director of worldwide product strategy for Adeptra said: “Our technology was designed specifically with the consumer in mind, and there’s no doubt that Santander shares that dedication. With the strong focus on consumer protection, banks turn to us for solutions that can offer their cardholders accurate and real-time conversations that reduce the exposure to fraud losses and at the same time increase customer satisfaction.  We’re pleased that our partnership with Santander is being recognized by Credit Today and look forward to the winners being announced in May.”

The winners will be announced at an evening event after the annual Credit Today Summit, held 12 May 2011, at the Grosvenor House in Park Lane, London.