Actimize has announced that "MasterCard is using the Actimize technology to augment its ATM and Debit fraud detection capabilities for issuers."
Actimize recently enhanced its debit fraud solution by acquiring proven analytic models used today by MasterCard in its Fraud Monitor service, a real-time risk scoring and fraud prevention service for PIN-based transactions offered by MasterCard to its customers. The technology is proven to fight ATM and debit fraud effectively across multiple card brands and geographies and used and tested by clients such as MasterCard and other card issuers.
The Actimize fraud detection analytics are unique in that their multi-dimensional profiles can be created and updated in real-time to detect suspicious activities at the card, device, account level and many other dimensions.
"MasterCard, the industry's security innovator and a global debit card leader, values our new relationship with Actimize in delivering value-added real-time risk scoring and fraud prevention solutions to our customers," says Bruce Rutherford, Group Head, MasterCard. "We have already received affirmation of the value of this solution from our customers who use this technology and we are looking forward to further evolving the technology and models."
Amir Orad, EVP and CMO of Actimize, said, "Our strategy is to offer a unique combination of the best ATM and debit fraud analytical solution with a proven scalable enterprise fraud platform. The fact that our technology has been selected by MasterCard and offered to their members worldwide means a lot to us and our customers."
As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants.