Retail Decisions, the international supplier of payment card, ebusiness and fraud prevention services, and ENIAC, a leading information technology solutions distributor, integrator and developer with operations in Latin America and the Caribbean, announced a sales and distribution agreement for Retail Decisions’ PRISM risk management products. Under the terms of the revenue-sharing agreement, ENIAC will sell, install and support the full suite of PRISM card fraud and merchant fraud detection solutions to its financial services clients in Venezuela, Colombia and Puerto Rico.
Retail Decisions and ENIAC will detail the alliance at ENIAC’s first annual Risk Management Symposium, being held on October 9th in San Juan, Puerto Rico.
“Retail Decisions’ fraud detection products are recognized the world over, having helped many high-profile credit and debit card issuers to significantly reduce their fraud losses,” said Roger Bonet, President of ENIAC, C.A. “By leveraging these premier industry solutions to financial services companies in our targeted regions, ENIAC can now assist our clients in combating fraud more effectively, while extending the services we provide to encompass enterprise-wide risk management solutions.”
“Fraud is a global problem,” said Carl Clump, CEO of Retail Decisions. “Our specialist approach to card fraud management, coupled with ENIAC’s excellent reputation, local knowledge and relationships offers an unmatched level of fraud prevention to leading financial institutions in Latin America and the Caribbean. We are pleased to have been selected by ENIAC as their preferred risk management partner and that they can assist with our objectives of enabling our services to be more widely available internationally.”
PRISM uses self-learning neural network fraud detection models and bank-specific rules-based technology to help card issuers and retailers detect fraudulent transactions in real-time. The system compares each transaction with historical account patterns and confirmed fraud activity. When the transaction is deemed to be suspicious by the neural network, or if the transaction matches one of the bank’s pre-defined fraud detection criteria, it is routed to a fraud analyst for review.
Established in 1974, ENIAC has operations in Latin America and the Caribbean as an information technology solutions distributor, integrator and developer. Besides the technology, ENIAC provides all the needed support for its operation and effective use. The ENIAC supporting concept includes integrated services and implementation of the required systems, adaptation, installation, deployment, training, interfaces development, accompaniment and support to assure the success in the business.
ENIAC represents more than 20 global information technology leaders in specialized “best of the breed” products/services to be integrated in sophisticated and differentiating business solutions. The company provides advanced B2B, EDI, XML electronic commerce and Internet products/services for banks, insurance, trade and industry in general. ENIAC also develops EAI (Enterprise Application Integration) solutions for mission critical business processes integrating different systems as ERP, CRM, and Supply Chain running over heterogeneous computational platforms and Internet.
About Retail Decisions
Retail Decisions (ReD) is an international electronic payment transaction services business that provides fraud prevention, enterprise-class payment processing software and value-added transaction and consulting services to the finance, telecommunications, retail and e-commerce sectors. ReD is able to predict and prevent payment card fraud, process high volumes of credit card and electronic check transactions and has a platform for a full range of transaction based value-added services.
The company currently protects over 50,000 points of sale globally. In 2001, ReD processed more than 1 billion card transactions, stopping an estimated $396 million in fraudulent purchases. ReD has more than 15 years experience in credit card risk management and payment settlement services to the telecommunications industry in the US, and currently supplies its services to over 45 telecom companies.
A global company, ReD has operations in the United States, Europe, South Africa and Australia. Retail Decisions is publicly traded on the official list of the London Stock Exchange under the trading symbol, “RTD”. More information about ReD is available at [www.retaildecisions.com].
PRISM is a trademark of Retail Decisions, Inc. All other trademarks are registered trademarks of their respective companies.