The new Adaptive Fraud Protection from Contact Solutions is a multi-layered, proactive fraud management solution that recognizes and stops fraudsters and nuisance callers before they create havoc in the contact center, while improving overall authentication processes and the customer experience.
Early Warning fraud prevention with its equity investment and commercial agreement through Payfone. Early Warning will now provide carrier-based device and account owner identity authentication combined with unrivaled financial transaction and identity data, ensuring a secure and seamless mobile experience for financial services customers. Mobile devices are becoming a proxy for identity. By integrating with the network-based authentication capabilities of tier one mobile carriers via Payfone, Early Warning will provide a deterministic level of mobile identity that far surpasses traditional and device-centric authentication measures. By leveraging the same SIM card-based network authentication that mobile operators use to secure their own services, Early Warning can verify account logins and financial transactions with more precision and convenience.
The UAE Central Bank and the Emirates Identity Authority have discussed the means of enhancing their co-operation as regards using the smart ID card and activating its advanced applications in the financial sector across the UAE. The meeting discussed forming a joint committee between the UAE Central Bank and the Emirates ID to draft a strategic co-operation agreementthat includes a number of initiatives aimed at promoting the culture of digital ID and knowledge-based economy and enabling the UAE Central Bank to upgrade the performance of the UAE financial sector and protect the identity of customers by capitalizing on the infrastructure of the ID card project and the advanced technical features of the ID card.
With 2011 came retailers’ shift to focusing on new POS technology away from the traditional platform to mobile POS, centralized POS platforms and customer smartphones as a checkout device. As retailers indicated their organization has become more forward thinking with regard to information technology, over 25% labeled their organization as an early adopter as retailers look to new technology to serve the customer. These findings, according to Boston Retail Partners, also show retailers are continuing to expand into mobile retailing with more than 33% operating a mobile channel compared to 12% last year. Nearly half the retailers currently offer customers the ability to use social networking through their mobile phone to share their shopping experience with friends.
New POS technology focuses on thin client solutions, mobile POS, centralized POS platforms and customer smartphones as a checkout device rather than the traditional POS platform. More than 25% of merchants labeled their organization as an early adopter as retailers look to new technology to serve the customer. Retailers are continuing to expand into mobile retailing with more than 33% operating a mobile channel compared to 12% last year. Omni-channel retailing continues to expand as retailers implement the technology needed to offer their customers a singular brand experience across all channels.
Visa and the Government of Rwanda partnered on a Charter of Collaboration to develop localized solutions to extend access to financial services to local and international consumers throughout the country. The partnership is a step in the Government of Rwanda’s Vision 2020 plan, the country’s blueprint to become a middle-income nation within the coming decade, with per capita income of $1000 by 2020, up from $220 in 2000. The success of that plan relies on a number of pillars, including shifting to a knowledge-based economy, private sector development and improving infrastructure. The company’s aim to generate 50% of its revenue from markets outside of the United States by 2015 will partly be enabled through its ability to build, buy and deploy new technologies that extend its products to geographies where electronic payments are limited today, such as Rwanda.
NetLogic Microsystems high-performance intelligent semiconductor solutions for next-generation Internet networks has started revenue shipments for its recently introduced XLP multi-core processors into the communications control plane market, which is estimated at approximately $1.5 billion. The control plane processing application represents a new market for NetLogic Microsystems’ XLP family of multi-core processors as previous generations of XLR(R) and XLS(R) families of processors were primarily targeted at the data plane processing market. The XLP multi-core processor is specifically designed with a best-in-class communications processor architecture supporting quad-issue, superscalar out-of-order execution, floating point processing, sophisticated branch handling and large on-chip caching. With this, 80% of NetLogic Microsystems’ leading customers are already actively designing with the XLP multi-core processors.
NetLogic Microsystems semiconductor solutions for next-generation Internet networks launched volume shipments for its industry-leading NL10k and NL11k families of advanced knowledge-based processors, optimized to manage the significantly greater requirements of Internet Protocol Version 6 (IPv6) processing in next-generation switches and routers. The first of these IPv6 customer systems to adopt NetLogic Microsystems’ advanced 40nm knowledge-based processors has begun volume production this quarter, and the company expects that an additional 60 customer programs at more than 17 customers will start their production ramps in the fourth quarter of 2011 and throughout 2012. Manufactured in the advanced 40nm process node, the NL11k and NL10k knowledge-based processors also integrate an innovative Range Encoding Engine (REE), which employs advanced one-hot and fence encoding algorithms to implement range encoding that allows customers to effectively double the efficiency of performing port range inspection.
Cornell-Mayo Associates (CMA) POS software is celebrating its 30th anniversary at the National Retail Federation (NRF) 100th Annual Conference and Expo in New York City. CMA earned 23 #1 rankings in the 2010 RIS Software Leaderboard in December and has remained profitable and independent through the toughest economy in modern history. Cornell-Mayo’s flagship “Omnistore” POS features a modern, lightweight service-oriented architecture (SOA) for both new and old hardware alike to provide true platform independence and access to store systems from anywhere.
RBS WorldPay has chosen GDS Link customer-centric risk management and process automation to incorporate its flexible decisioning technology for better portfolio segmentation and merchant fraud identification. Enlisting GDS Linkâs”DataView360,” enables RBS WorldPay to more efficiently adapt and respond to regularly changing trends in fraud. With “DataView360”, clients can implement and manage their fraud-based rules for several business functions. With “DataView360” RBS WorldPay can create and implement multiple risk and fraud thresholds based on several variables. This approach to identifying potential anomalies in merchant fraud activity improves the customer experience and increases the overall performance of service delivery that RBS WorldPay provides its merchants.
A new research report suggests that the financial services industry has lost the
battle to protect consumers’ personally identifiable information (PII) data. Over
100 data breach incidents containing millions of data records were reported in
just the first four months of this year. Recent instances include hackers accessing
a FAA system and the theft of laptops from the Dezonia Group. The TowerGroup report
says financial institutions must now assume that all of their clients’ and
prospects’ personal information has been compromised or will be. To combat the
problem, TowerGroup recommends that financial services institutions assume that
traditional account information such as a client or prospect’s name, social
security number, address, telephone number, date of birth and account balance are
useless as authentication factors. Instead, consider using knowledge-based
authentication and one-time passwords delivered via SMS; implement an integrated,
cross-channel fraud prevention strategy that detects and diagnoses possible use of
fraudulently obtained PII in real time and across all business practices; and
continually evaluate and evolve fraud prevention approaches because smart
fraudsters constantly change their means and tactics for breaking security systems
and stealing data.
Experian has teamed with NJ-based PredictiveMetrics to offer “Priority
Score for Collections.” It provides creditors, collection agencies and
debt buyers with the advantage of predicting two outcomes: dollars
to be collected and expected payers. By having the ability to predict
expected dollars to be paid in addition to the traditional payer score,
organizations can prioritize collection actions based on cost, effort
and impact optimizing collection yields. The algorithms that drive these
scores are derived from models segmented by account balances along with
the debt type and age of debt. Clients will be able to score and make
decisions on more accounts since the models leverage client data.
PredictiveMetrics is the leading
provider of predictive scoring and analytical decision solutions using
advanced statistical techniques. PMI’s custom analytics and
industry/finance decision technology spans many industries, types of
financing, and debt.