Clari5 Payment Card Fraud Management

Combating sophisticated Card Fraud

Countries have witnessed the utilization of credit, debit and prepaid cards as a means of purchase and payment for goods and services. This has brought a whole level of convenience for consumers but at a price; it has been accompanied closely by high aspects of fraud and theft of funds corresponding to electronic transactions. Aite Group in its 2012 report focused on 17 countries plagued by card fraud (credit, debit or prepaid). The United States and Mexico experienced the highest rates of credit card fraud, with 37% of cardholders in each country impacted by credit card fraud in the past five years. Fourteen percent of 2012 respondents experienced debit or credit card fraud more than once during the past five years in sharp comparison to 6% of 2011 respondents, a statistically significant increase.

Clari5 can help your bank

Clari5 can provide payment card issuer, payment processor or a merchant acquirer the necessary arsenal to monitor, detect and prevent card fraud.

Solution Features
Profiling customer behavior based on Multiple transactions at a POS in a short time frame Unusually large ticket size payments at a risky merchant POS Instantaneous transactions at two distinct POS systems that are at a considerable distance from each other Merchant/ POS/ Operator Behavior Profiling Unusual Transaction velocity, ticket sizes, operator behaviour, log-in hours, number of declined attempts at a POS Ability to create and screen watch list/blacklist of POS devices Real time fraud risk advice of whether to allow, decline or challenge a transaction Through our Integrated Case Management, business users/fraud analysts can work through investigations from alert investigation to case creation, resolution and reporting Our comprehensive Reporting and Business Intelligence helps business users define and measure fraud, scenario and operational performance metrics

Key benefits
Protect your bank from Third party fraud Merchant / Operator level fraud Reduce fraud and fraudulent events Reduce reputational loss due to internal fraud Faster implementation and reduce long-term costs Increases customer loyalty

What does your bank need to monitor?

Unusual transaction volumes

Multiple Invalid Logins followed by Large ATM Cash Withdraw

Transaction at odd hours

Unusual Transaction IN-OUT Flow

Recent unusual changes in the customer info in the card accounts

Multiple Online Purchases from different Cards but same IP/Device within a short time

Why Clari5?
With Clari5, your bank can monitor genuine user behaviour in real-time providing more accurate results than log-based analysis. Even before data or actual money is stolen, Clari5 alerts fraud to the Fraud Investigation Unit of your bank so as to take prompt and stern corrective action. Clari5 spans a comprehensive coverage for wide range of Card Fraud issues skimming, counterfeit card, Card-Not-Present, Mail Non Delivery, ID Theft, Account Takeover, data breaches, stolen card, etc. Clari5 enhances your bank with the relevant anti-fraud features. Real-time fraud prevention Ability to request for a decision advice whether to approve, decline or challenge for every payment transaction Real-time fraud detection Processing of payments transactions in real-time and a case/alert is given to the fraud investigation unit on detecting a suspicious pattern Offline fraud detection (T+1 or batch) Payment transactions are processed in batches at the end of the day or at scheduled intervals of time. Fraud cases/alerts are created for fraud investigation unit on detecting suspicious fraud patterns

ABOUT CUSTOMERXPS
CustomerXPs is a Bangalore based software Product Company, creates real -time, intelligent products that empower Banking, Retail and Telecom Enterprises with instant insights enabling influenced outcomes of deeper customer engagement and fraud-free transactions. With a vision to provide ammunition to its clients to proactively sense their customers' needs/wants, CustomerXPs software identifies and solves, in real -time, complex problems in the areas of customer experience management, contextual right -sell, fraud monitoring, compliance, accurately predicting risk and automating targeted treatments.

email: clari5@customerxps.com

Phone: +91-80-3221-8294

www.customerxps.com