41st Parameter Provides Anti-Fraud Solution to Continental Airlines
41st Parameter has announced that it has been selected by Continental Airlines "to help detect and prevent Card-Not-Present (CNP) fraud in its online sales channels. The airline will employ 41st Parameter’s FraudNet to help it identify legitimate versus suspect website transactions on a global basis, as well as to prevent fraudulent account access, enabling the airline to protect sensitive customer data."
Important in Continental Airlines’ decision was 41st Parameter’s powerful covert proprietary technology that offers increased visibility and analysis of the airline’s online transactions. The FraudNet solution provides Continental Airlines with all its detection tools on a single workbench, thereby decreasing investigator training times and reducing the volume of manually reviewed transactions. 41st Parameter’s proprietary technology also allows airline investigators to identify interlinked activities and report genuinely fraudulent cases to law enforcement bodies.
“After researching various alternates available for a specialized fraud detection and prevention solution, we found that 41st Parameter has proprietary technologies not available from their competitors,” commented Tom Ferazzi, Managing Director, Cash & Investments Treasury, Continental Airlines. “We believe these capabilities will allow us to capture more fraud faster than any of the alternatives we reviewed.”
“Card-Not-Present transactions on the Internet have grown significantly in the travel industry over the past few years, and with it the quantity and complexity of fraudulent activities. Our success in this market stems from the breadth and depth of our offering that is enabling companies, such as Continental Airlines, to successfully defend against the fraudsters who are targeting the travel sector,” commented Ori Eisen, Founder and Chief Innovation Officer of 41st Parameter.
Add your comment... (note that all comments are reviewed before they're published)