North American Bancard Fights Fraud with Fractals™ From Alaric
LONDON, August 29, 2013 /PRNewswire/ --
Protecting more than $13 billion-worth of payment transactions every year
Alaric (http://www.alaric.com), a global supplier of fraud prevention and payments solutions, announced today that North American Bancard, an industry leader in payment card processing, has selected Alaric's Fractals™ fraud prevention and detection product, in a competitive pitch for the merchant acquirer's fraud and risk solution.
North American Bancard handles all areas of merchant payment processing, including credit, debit, EBT, check conversion and guarantee, and gift and loyalty cards, for more than 250,000 merchants across the US. With such a diverse portfolio, North American Bancard makes use of a wide range of risk information sources. Alaric's Fractals product enabled North American Bancard to bring this information together in one place to make intelligent fraud and risk decisions efficiently and accurately.
Aliki Liadis-Hall, director of compliance at North American Bancard said, "We had stringent criteria when it came to selecting our new fraud and risk system. We needed to be able to manage our fraud risk exposure across mobile POS, e-commerce and traditional retail channels with a single system.
Fractals from Alaric met all those criteria, including the ability to customize the system and build our own rules, the management reporting and the rules engine. But perhaps more important than anything else, we had absolute confidence in the people and Alaric's ability to deliver the best solution."
"North American Bancard is committed to staying at the forefront of modern business thinking, prizing itself on consistently offering highly-competitive pricing, and exceptional customer service," said Peter Parke, General Manager, fraud solutions at Alaric. "We were confident going into this process that Fractals would stand out from the crowd, and we are delighted that the team at North American Bancard selected Alaric to help keep fraud levels as low as possible, ensuring that these savings could, in turn, be passed on to its customers."
Fractals is an intelligent fraud detection and prevention framework suitable for PSPs, online merchants, card issuers, acquirers and payments processors. When used 'in-flight' illegal transactions can be detected and stopped before a transaction is completed. Proprietary mathematical models incorporate self-learning allowing the model to automatically adapt to new fraud trends and retain its effectiveness. The Fractals Rules Engine enables fraud analysts to create and deploy powerful fraud detection rules within minutes, delivering substantial reductions in fraud losses. In the rapidly evolving world of electronic payments, Fractals benefits from continuous investment and R&D, ensuring that it remains at the forefront of fraud detection.
About Alaric (http://www.alaric.com)
Alaric is a global supplier of fraud prevention and payments processing products. Alaric's products allow financial institutions, processors and retailers to manage ATM, POS, ecommerce and mobile payment or banking transactions, deliver complex multi-channel payments integration and carry out enterprise fraud and risk management.
Alaric's focus is on customer empowerment ensuring its users can stay ahead of the market. Alaric's products are designed to be rapidly customisable by customers allowing them to take strategic control of their system investments. Alaric's customers get the best of both worlds: an unprecedented degree of control over their solutions while retaining all the benefits and economies of using product-based solutions. The Alaric product line up comprises 'Fractals' fraud prevention and 'Authentic' payments technology.
About North American Bancard
Operating at the forefront of the merchant services industry since 1992, North American Bancard's tireless commitment to providing both innovative programs and products and unparalleled customer service allows them to processes more than $13 billion in transactions for more than 250,000 merchants each year. A true all-in-one payment processing solution, NAB provides a full spectrum of merchant services including but not limited to: credit/debit card acceptance, EBT, check conversion and guarantee, gift and loyalty cards, the latest mobile solutions and more. NAB is headquartered in Troy, Michigan and employs over 700 team members. For more details visit nabancard.com or facebook.com/nabancard.com.
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