FSV Payment Systems implements Enacomm’s Fraud Control Module to reduce card fraud
TULSA, OK (October 25, 2016) — FSV Payment Systems, a U.S. Bank wholly-owned subsidiary and a leader in prepaid program management and processing services, is now utilizing Enacomm’s ViA® Fraud Control Module to effectively handle suspicious caller activity, the companies today announced at Money20/20. Enacomm is a leading provider of intelligent customer interactions solutions and security technology for financial institutions and credit card companies.
The Fraud Control Module builds upon Enacomm’s Virtual Interactive Analyst (ViA) offering, which is an analytics tool for call centers featuring real-time IVR, web, mobile, SMS, CTI and quality reporting, monitoring, and alerting. Employing data gathered by ViA, the next-generation add-in module enables users to create fraud rules based upon PIN changes, number of accounts and or cards per individual, authentication failures, card-to-card transfers, and multiple other caller behaviors within the IVR system.
“FSV is committed to providing its account holders with the highest level of fraud protection available – in this day and age, that means staying on the leading edge of technology,” commented Peter Klukken, General Manager, Prepaid Division of U.S. Bank. “The Enacomm Fraud Control Module’s configurable tools are a crucial part of FSV’s fraud prevention strategy.”
Through the Fraud Control Module’s wide range of features and customizable anti-fraud rules, FSV is able to identify and shut down alleged fraud on a continual basis. Thanks to the large amount of IVR call data that the Fraud Module constantly analyzes, FSV is able to mitigate fraudulent activity and report information gathered on criminal activity to the proper authorities.
“FSV is truly a leader in the prepaid industry; Enacomm is proud to provide FSV with the modern technology that is repeatedly thwarting financial fraud, which would impact both FSV and its many customers,” said Enacomm Chief Executive Officer Michael Boukadakis. “A proactive approach to combatting criminals targeting the call center channel is crucial for preventing significant losses and damage to a brand’s reputation.”
Enacomm’s Fraud Control Module is customer-driven, giving organizations the flexibility to create unique fraud rules and designate associated action sets, such as limiting caller functions in the IVR and automatically notifying an organization’s risk management group, to immediately counteract suspicious activity. To optimize risk assessment on an ongoing basis, fraud records and fraud notifications are automatically generated by the Fraud Control Module 24 hours a day, 7 days a week. This enables organizations to make decisions about how to handle each suspected or confirmed fraudster based on detailed interaction records.
FSV also takes advantage of the Enacomm Fraud Control Module’s reporting feature to break down large volumes of data into specific targeted activities. AdHoc reports enable FSV to search for suspicious trends using distinct information tied to the specific rules that have been implemented to reduce card fraud.
To learn more about how Enacomm’s ViA Fraud Control Module fights financial fraud, go to www.enacomm.net. For more information on FSV Payment Systems, visit www.fsvpaymentsystems.com.
ENACOMM is a FinTech provider of an open API digital gateway that supports open banking and enables financial services companies to innovate by overcoming the complexities of integrating to core, payments, and other digital platforms. Its affordable solutions modernize the customer experience (CX) for bank customers and credit union members, rivaling the customer service technologies offered by the biggest financial institutions with the deepest pockets. ENACOMM also provides tools and products to help track fraudsters, identify fraudulent activity across customer interaction channels, and prevent fraud.
Utilizing web, mobile, real-time alerts, SMS texts, email, voice, chatbots and other communication technology channels including digital voice assistants that enable Conversational Voice Banking, ENACOMM harnesses artificial intelligence, big data, biometrics and more to help organizations provide customers and members with a best-in-class, omnichannel self-service experience that is convenient, secure, and user-friendly. A frontrunner in self-service technologies including intelligent, personalized interactive voice response (IVR) for over three decades, the company’s customer base ranges from credit unions and community banks to the largest financial institutions in the United States. Offering financial institutions intelligent interactions and user authentication technologies as hosted services or on-demand through the “cloud,” ENACOMM was named a “Top 10 Retail Banking Solution Provider” by Banking CIO Outlook magazine. ENACOMM processes more than 1,000,000 customer interactions and automated data transactions every day.
For more information, go to www.enacomm.net and follow ENACOMM on Twitter (@ENACOMM) and LinkedIn.
For more information, email / call Mike Kirk, ENACOMM Vice President of Financial Services, at email@example.com / 512.656.5099, or go to www.enacomm.net.
About FSV Payment Systems
FSV Payment Systems, Inc., a subsidiary of U.S. Bank, is one of the nation’s largest payroll card providers. Its leading edge technology, combined with its industry expertise, provides employers with quick program implementation, high adoption rates, comprehensive training and increased operational efficiencies. FSV Payment Systems was established in 1999, at the beginning of the prepaid industry, as a prepaid card program manager and card processor. Since that time, the company has implemented hundreds of programs and now processes millions of prepaid cards each year. To learn more, go to www.fsvpaymentsystems.com