Actimize, a provider of financial crime, compliance and risk management solutions, has announced that its remote banking and card fraud prevention solutions are being deployed by NEOVIA Financial, a global online payments business. NEOVIA will use Actimize’s automated fraud prevention infrastructure to monitor all transactions between consumers and merchants in real-time.
Actimize said that its card and remote banking fraud prevention solutions employ real-time, phase-based analytical models to achieve efficient detection rates while maintaining throughput performance. The solution uses sophisticated analytics to evaluate transactions for fraud risk.
Actimize’s card fraud solution leverages card data consortiums, that include billions of ATM/Debit transactions. The remote banking solution monitors online banking, call center, IVR and mobile banking channels to detect fraud perpetrated against monetary and non-monetary activities in real time.
Mark Healy, head of risk at NEOVIA, said: “As chip and PIN implementation grows in acceptance and ‘card not present’ transactions increase, we recognize the continuing importance of an enhanced real-time fraud monitoring and prevention solution. Our fundamental requirements were to extend our fraud mitigation capabilities and allow for self-administration by both our risk team and our merchants.”
Amir Orad, executive vice president and chief marketing officer at Actimize, said: “Our solutions provide multichannel fraud prevention and deliver efficient investigation of financial crime incidents for our clients. More important, our solutions enable clients like NEOVIA to have more opportunity to prevent fraudulent attacks in real time.”
