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Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise - Latest release of Fractals delivers risk-based authentication, online and mobile banking fraud detection and improved functionality to help fraud teams protect their customers - NCR.com
Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise

 

NewswireToday - /newswire/ - Duluth, GA, United States, 2015/11/03 - Latest release of Fractals delivers risk-based authentication, online and mobile banking fraud detection and improved functionality to help fraud teams protect their customers - NCR.com. NASDAQ: RADS NCR

   
 
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NCR Corporation, the global leader in consumer transaction technologies, has released the latest version of its Fractals enterprise fraud detection solution, which delivers new eBanking fraud detection, powerful new fraud management features and an enhanced user interface. This new release incorporates many additions built in response to requests from the Fractals customer base, highlighting NCR’s commitment to delivering solutions that truly meet the needs of its user community.

Fractals’ new eBanking channel brings the intelligent fraud detection functionality of Fractals to the internet and mobile banking space. As well as monitoring financial transactions, such as payments and transfers, Fractals also monitors non-financial transactions, including login attempts, changes of personal data and creation of new recipients which might indicate fraud on an account.

The latest version of Fractals enhances integration options with new ways of getting data into and out of the system, including flexible transaction and event mapping. As part of NCR’s drive to make the solution as efficient as possible for fraud teams, it also enables more flexible batch fraud tagging, and simpler and faster access to data across different perspectives in the system. The addition of tools to enable extremely granular fine tuning of how rules interact with each customer in the system means the users can quickly stop a fraudster in their tracks, without damaging legitimate customer relationships. The latest release delivers significant flexibility, including the ability to easily update languages, and the new version is now available in Japanese.

An essential part of any modern fraud strategy, the Fraud Intelligence Hub has been enhanced by the integration of two new external data providers for IP intelligence and device reputation. Crucially, however, NCR never locks its customers into one vendor for their intelligence needs, and any other new data source can be integrated at the request of a client.

“Fraud teams are under constant pressure to react to changing fraud trends as they happen while minimizing customer impact. All too often, fraud tools are cumbersome and unwieldy, but we are determined instead to deliver the greatest possible flexibility and ease of use with Fractals,” said Steve Nogalo, vice president of payments at NCR Financial Services. “The latest version of Fractals has been transformed. In particular, we have focused on an outstanding user interface, as well as a wealth of new features, designed to give the greatest possible support to those on the front line of the fight against fraud.”

Fractals enables clients to have total strategic control of their system without dependency on NCR. This independence means they can adapt the system with new rules whenever they need, without having to turn to NCR for every change. Fractals uses a combination of self-learning models and user defined rules to tackle any type of transactional fraud problem. It is used around the world by issuers, acquirers, processors, networks, PSPs, ISOs and merchants, for all retail payment types. It includes cross product, cross channel, enterprise fraud detection and prevention.

In addition to its rules technology, Fractals uses Bayesian modelling which enables it to identify fraud accurately from any sized data set. The Bayesian modelling approach also helps Fractals to learn and adapt as fraud patterns emerge and change, delivering the most accurate level of fraud detection with lowest ‘false positives’, thereby minimizing the risk of genuine transactions being blocked and improving customer experience.

About NCR Corporation
NCR Corporation (ncr.com) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.

Contact: Andy Phillips - NCR Public Relations, Europe
P: +44(0)20 7725 8248 - E: andy.phillips[.]ncr.com.

 
 
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Written by / Agency / Source: Radiant Systems, Inc. | NCR

 
 

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Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise

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NCR Corporation | Fractals
Publisher Contact: Jeff Dudash - NCR.com 
770-212-5091 jeff.dudash[.]ncr.com
 
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