MasterCard offers up real-time fraud detection to Europe
(9 December 2010 – Europe) MasterCard has introduced its Expert Monitoring Real-Time Fraud Scoring and Compromised Account Service to the United Kingdom, Ireland and other markets throughout Europe.
The new services represent the latest addition to MasterCard's suite of Expert Monitoring Solutions which provide turnkey, next-generation fraud detection and prevention capabilities that help payment card issuers protect cardholders from fraudulent transactions and reduce fraud-related costs.
The fraud detection models are finely tuned to the risk profile of each market, Expert Monitoring Real-Time Fraud Scoring provides issuers with a predictivefraud score during authorization that indicates the likelihood that a transaction is fraudulent.
As a result, MasterCard is helping issuers identify and prevent fraudulent transactions in real time, enabling them to enhance their existing fraud detection capabilities and further reduce fraud costs.
In addition, the Expert Monitoring Compromised Account Service provides issuers precise, timely fraud prediction for accounts that have been subjected to a data compromise event and may be more prone to fraud. As a result, issuers can more effectively assess the threat of fraud on compromised accounts to reduce their fraud losses and lower their re-issuance costs.
'MasterCard is committed to helping financial institutions protect cardholders from the risk of fraud," the card giant said.
"Expert Monitoring Real-Time Fraud Scoring and Compromised Account Service enable our customers to sharpen their fraud detection and make more informed authorisation decisions at the point of interaction to stop fraud before it happens,' said Wendy Murdock, Chief Payment System Integrity Officer, MasterCard Worldwide. '
"As a result, Expert Monitoring Solutions provide issuers with higher and more accurate fraud detection rates over conventional solutions. This is critical in controlling the rising costs of fraud while ensuring a positive cardholder payment experience," Ms Murdock added.
The fraud detection models are finely tuned to the risk profile of each market, Expert Monitoring Real-Time Fraud Scoring provides issuers with a predictivefraud score during authorization that indicates the likelihood that a transaction is fraudulent.
As a result, MasterCard is helping issuers identify and prevent fraudulent transactions in real time, enabling them to enhance their existing fraud detection capabilities and further reduce fraud costs.
In addition, the Expert Monitoring Compromised Account Service provides issuers precise, timely fraud prediction for accounts that have been subjected to a data compromise event and may be more prone to fraud. As a result, issuers can more effectively assess the threat of fraud on compromised accounts to reduce their fraud losses and lower their re-issuance costs.
'MasterCard is committed to helping financial institutions protect cardholders from the risk of fraud," the card giant said.
"Expert Monitoring Real-Time Fraud Scoring and Compromised Account Service enable our customers to sharpen their fraud detection and make more informed authorisation decisions at the point of interaction to stop fraud before it happens,' said Wendy Murdock, Chief Payment System Integrity Officer, MasterCard Worldwide. '
"As a result, Expert Monitoring Solutions provide issuers with higher and more accurate fraud detection rates over conventional solutions. This is critical in controlling the rising costs of fraud while ensuring a positive cardholder payment experience," Ms Murdock added.
Subscribe