Solutions - Fraud Prevention
Security for Fast Payments
Monitor Plus PMFD™ (Payment Media Fraud Detector)
is a comprehensive and intelligent solution for the prevention of payment fraud (credit/debit/prepaid cards, digital wallets, etc.) in real time.
Use cases
- Fraud prevention in card-present and card-not-present transactions.
- Protection of physical/digital shops and ATMs.
- Protection for acquirers, issuers, payment processors and financial switches.
- Personalisation and customer control over their products and channels.
- Dynamic security code for online purchases.
- Massive card fraud attacks.
- Fraud prevention in digital applications from fraudulent merchants (for acquirers).
- Ensuring correct trading behaviour (for acquirers).
MAIN BENEFITS
Real-time loss reduction
Monitor Plus Payment Media Fraud Detector™ analyses transactions in milliseconds and interacts in real-time with the authoriser to recommend that the authorizer authorize or deny transactions. The system is also capable of executing automatic defensive routines for greater effectiveness.
Internal and external fraud prevention
The integration of expert models that incorporate expert know-how gained from a long history in the industry enables Monitor Plus Payment Media Fraud Detector™ to detect a wide range of known and unknown fraud patterns, potential points of compromise, and external and internal fraud patterns.
Strong customer authentication
The Monitor Plus® system conducts a risk assessment of transactions to generate alerts and trigger automated defensive actions. The system is able to interact with the customer to confirm their identity through dynamic multi-factor authentication.
Increased detection, reduced friction
Monitor Plus Payment Media Fraud Detector™ employs an assembly of expert models and artificial intelligence to optimize the high level of detection and decrease false positives, resulting in less customer friction and improved satisfaction. Additionally, the resulting reduced alert volume lightens the operational burden on the analysis team.
Effective and precise
Real Time Detection and Prevention
Cost-efficient security
- No charge per transaction analyzed.
- Decreases the total cost related to fraud:
- Minimizes fraud losses.
- Minimizes operational costs of prevention.
- Maximize customer experience.
Customer follow-up
Monitor Plus Payment Media Fraud Detector™ includes customer notification and immediate follow-up processes to ensure good service in the case of rejected transactions due to high risk rating.
Curb fraud
for Increased Customer Satisfaction
The customer can customize their payment media in real-time.
- Switch card on/off.
- Switch channels on/off.
- Customize notification preferences.
Immediate confirmation for high-risk operations
The system incorporates multiple authentication factors and complies with the highest security standards (e.g. PSD2) by combining:
- Something the customer KNOWS.
- Something the customer HAS.
- Something that the customer IS.
