SmartGuard
Payments business transformation in the Asia/Pacific financial sector by BPC.
CEO
TELERED S.A., Panama
Card Fraud Management
The growth of e-commerce and the popularity of credit cards have been accompanied by a surge in fraudulent transactions. As card risk management and security tools have evolved, financial institutions are demanding new card fraud monitoring tools that actually prevent fraud, instead of simply monitoring suspicious activity.
SmartVista’s SmartGuard answers this call with a module that uses transaction filtering, user-defined rules technology, and neural network-based monitoring to efficiently detect and block suspicious transactions. The solution combines the advantages of online and offline fraud prevention and detection, and enables both card issuers and acquirers to track transactions coming from traditional and emerging delivery channels such as ATMs, POS,
Fraud Management Solution
SmartGuard monitors customers’ payment activity by comparing transaction parameters against defined rules and the use of neural network technology. The fraud management solution allows you to flexibly set and modify your own rules for fraudulent transaction detection. The card risk management system also “learns” from transaction history and previous, fraudulent spending patterns. SmartGuard goes beyond simply tracking fraud by actually declining suspicious transactions. When suspicious activity is detected, you can configure SmartGuard to send customer e-mails or SMS text messages, raise an alert with a call center operator, decline the transaction, or block the card.
SmartGuard reviews 100% of all transactions without any degradation in throughput. In this way, all transactions are monitored instead of the usual sampling method. SmartGuard adjusts to detect new types of fraud, reduces financial losses, and raises the efficiency of your complete security and risk management system. See how one BPC customer is saving at least $1 million per month through active fraud prevention.
Online and Offline Data Monitoring
SmartGuard tracks both online and offline transactions for a holistic picture of data monitoring. The solution monitors transactions
from both traditional and emerging delivery channels such as POS and ATM terminal devices, e-commerce, and m-commerce etc. by looking for atypical patterns such as a sudden, high volume of chargebacks or merchant retrieval requests that indicate suspicious activity.
Fully Configurable Rules
SmartGuard monitors transactions during authorization, based on a set of configurable rules. Banks can flexibly set and modify these detection rules based on the history of earlier detected fraud cases and other banks’ experiences.
100 Percent Tracking
Unlike some fraud management systems that base decisions on transaction sampling, SmartGuard monitors all process transactions with minimal degradation in service levels.
Smart Technology
SmartGuard is built upon neural network technology that “learns” from transaction history and previous, customer spending behavior. These spending patterns are based on statistical data of cardholders and cards, compiled to monitor suspicious activity and errant behaviors, reducing the risk of fraud.
Local Stop Lists
Local stop lists help make authorization decisions in stand-in mode.
Transaction Reporting
Statistical reports are provided to adjust and configure rules to maximize fraud monitoring efficiency. Reporting parameters may be changed or adjusted, depending upon the information required, such as how many suspicious requests were identified by each operator.
Contact us today to request more information or discuss how BPC can help transform your payments business.
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