Fractals™ From Alaric Selected by Heartland Payment Systems® for Fraud Detection

LONDON, July 17, 2013 /PRNewswire/ --

Alaric (http://www.alaric.com), a global supplier of fraud prevention and payments solutions, today announced that one of the world's largest payment processors, Heartland Payment Systems, Inc. (NYSE: HPY), has selected Alaric's Fractals™ fraud prevention and detection product to monitor more than 300 million card transactions that it processes each month.

A FORTUNE 1000 company, Heartland Payment Systems delivers credit/debit/prepaid card processing, mobile commerce, eCommerce, marketing solutions, security technology, payroll solutions, and related business solutions and services to more than 250,000 business and educational locations nationwide.

"Heartland realised that it needed a fraud system it could depend on as its volumes grow," said Mike Alford, CEO at Alaric. "It has hundreds of thousands of merchants - from fuel stations to restaurants - processing pre-paid, credit, debit and gift cards. Fraudsters are always adopting new methods to try to get past the technology, and Heartland knew that it had to be proactive in choosing a system that would help it stay ahead. I am delighted that they selected Fractals after researching all their options."

Georgia Stavrakis, Director of Loss Prevention at Heartland Payment Systems, said, "From our first conversations, Alaric showed true willingness to meet our requirements. Fractals was selected because of its strong analytics and modelling capabilities, the ease by which it could be integrated into the existing environment, and Alaric's expertise at delivering highly-effective fraud solutions."

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.

For further information please contact:
Catherine Eyres
Alaric
Tel: +44(0)20-7593-2200
[email protected]
@alaricsystems

SOURCE Alaric