eFunds’ Chex Systems subsidiary is launching a service that can help financial services companies prevent fraud and comply with Section 326 of the USA PATRIOT Act by verifying the identities of consumers applying for loans, credit cards and other accounts. The new “IDefend” service, to become available in late October, integrates positive and logical verifications with complex analytics to cross check and validate an applicant’s personal information such as Social Security number, address, phone number, zip code and driver’s license number to verify a consumer’s identity. In addition, the “IDefend” service provides screening of applicants against government terrorist lists including the Office of Foreign Assets Control and other government lists using software from Bridger Systems. The U.S. Treasury Department states that final rules implementing Section 326 must be effective by Oct. 25.

Blaze Advisor v4.5

Fair, Isaac and Company has released v4.5 of its “Blaze Advisor” rules management technology which allows enterprises to express their own best practices, business policies and decision criteria in intuitive business terms. Blaze Advisor release 4.5 gives application designers new flexibility in selecting exactly how the rule engine should process the business rules they have defined. A classic inference network can be used for large sets of rules with many interdependencies, while a new sequential mode allows efficient fixed-order processing of rules against large sets of data.

TeleCheck Jamaican Deal

Grace, Kennedy Remittance Services has agreed to market TeleCheck check acceptance services to its affiliate companies and other merchants in Jamaica. It will further enable the cross-selling of Western Union and TeleCheck services to a broad range of merchants in Jamaica through GKRS’s extensive network of subsidiaries, affiliates and other merchant contacts. By using TeleCheck’s industry leading database of check-writer information, GKRS affiliate and merchant clients will be able to reduce check fraud when accepting payment at the point of sale or providing check cashing services on U.S. drawn checks.


The NSW Commercial Crime Unit this week shutdown payment card acceptance
at five petrol stations in Sydney due to card skimming. The action is part
of “Project Venlo” which launched in July. According to the NSW Police, the
petrol stations where swiping cards through a card skimmer and then
transferring the magnetic stripe data to another card. The latest group
also set up cameras to watch customers enter PINs. The five petrol stations
netted approximately A$100,000. Since Project Venlo was launched more than
a dozen merchants in Sydney’s western suburbs and inner west have lost
their EFT/POS and credit card terminals.

Total Security Protection

Bank of America launched a “Total Security Protection” package for its credit cards and debit cards. BofA says the new cardholder package is one of its most significant consumer brand initiatives for this year, supported by a $26 million national advertising campaign as well as a consumer education promotion including free educational materials. The “Total Security Protection” package features six cardholder benefits including a new “Guaranteed Credit” feature. If a customer’s card is lost or stolen, the bank guarantees credit to the cardholder’s account by the end of the next business day in the event of unauthorized card transactions. Other features of the “Total Security Protection” package include: zero liability for any unauthorized card transactions reported within 60 days from statement date; fraud monitoring based on transaction patterns; “Photo Security” which puts the cardholder’s picture and signature on the front of the card; “Verified by Visa” for online protection; and the “Bank of America Privacy Policy for Consumers.” BofA will kick off the advertising campaign featuring television commercials nationwide beginning on Oct. 14. Other marketing initiatives include radio, outdoor boards, mall advertising, point-of-purchase and direct mail. Additionally, an advertising campaign targeting Hispanic consumers will kick off on Oct. 16.


ENIAC 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. “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.
In 2001, ReD processed more than 1 billion card transactions, stopping an
estimated $396 million in fraudulent purchases.

Citibank Web Site

Citibank has introduced an enhanced Internet site for its consumer banking services including credit cards. provides information and access to the breadth and depth of Citibank’s products and services without sacrificing the ease of use that has helped Citibank to consistently earn number one rankings in the industry.

CardData 3Q/02

As more results trickle in for the third quarter there is a noticeable contraction in outstandings while volume growth remains strong. The early results add some evidence that consumer credit card behaviors are tilting towards long-term debt moderation. It is expected that many of the nation’s top issuers will report a sluggish third quarter due to continued deterioration in consumer credit quality amidst debt aversion by consumers representing good credit risks. For real-time third quarter results visit CardData ([][1]).

(change versus 3Q/01)
Boeing Employees CU $241,219,121 +0.6% $193,608,014 +11.0%
Golden 1 CU $152,471,875 -6.3% $101,763,837 +14.9%
Farm Bureau Bank $ 97,457,776 -0.6% $ 82,573,613 +59.7%
Broward Schools CU $ 51,644,270 -8.0% $ 5,303,790 + 3.9%
Anheuser Busch Emp CU $ 34,200,034 -1.2% $ 24,432,470 + 7.0%



IsraCard Ltd has expanded its relationship with Top Image Systems with
the addition of the “eFLOW” mobile solution for IsraCard’s field sales
force. To sign up a new merchant the sales manager enters all of the
relevant information on the PDA and sends the information via cellular
communications directly to IsraCard’s Oracle-based CRM system. The field
sales manager prints the contract and provides the merchant a copy. In the
meantime, IsraCard’s system authorizes the new contract and the new
business customer can begin to accept credit card payments immediately.
Sales managers can also service existing customers by downloading special
offers to the PDA, checking the business’ monthly sales volumes and
offering lower charges. Top Image Systems partnered with IBM Global
Services to provide the new sales tool. IsraCard markets four business
credit cards including MasterCard, IsraCard, American Express and VISA.


TSYS has selected “PROGNOSIS” by Integrated Research to manage its “HP NonStop” computing environment that implements mission-critical cardholder authorizations applications. The objective of the PROGNOSIS deployment was to replace the company’s “modular” approach to environmental monitoring and management, with a consolidated solution that would expand their capabilities, while enhancing reliability and performance. PROGNOSIS will now manage the 14 production and two development nodes of the NonStop environment supporting the cardholder authorizations applications process.


Dah Sing Bank has launched a “MasterCard Corporate Card” and a “MasterCard
Corporate Purchasing Card.” As part of the product launch, Dah Sing has
signed an agreement with the corporate card unit of GE Consumer Finance
under which multinational customers of “GE Corporate Card,” including 10 GE
businesses with operations in Hong Kong, will be the first organizations to
use the new Dah Sing business card products. The new Dah Sing card programs
offer the latest version of MasterCard’s “Smart Data OnLine” reporting
system which provides corporate customers with comprehensive reporting of
transaction activity, for better tracking of policy compliance by
cardholders and improved vendor negotiations. In addition to the
partnership with MasterCard, Dah Sing also announced its alliance with GE
Corporate Card. whereby Dah Sing
Bank will issue Hong Kong Dollar-denominated corporate cards to GE’s
subsidiaries and clients in the territory. This arrangement will allow GE
to serve its clients with operations in Hong Kong without the complexities
of running a credit card center here. In addition, GE Corporate Card’s
multinational clients will minimize payment of high exchange rates.