With iXept, all payment processing players-merchants, financial institutions, card
companies and processors- can now deploy a real-time fraud mitigation and 2-way
communication alert platform that is embedded in the payment stream. This innovative
solution enables you to detect fraud in real time while engaging in 2-way communication
with accountholders, resulting in quick response, no false positives and no disruption
to the payment process.
Escalating payment fraud is a critical and growing problem. Consumer card payments
pose an attractive target for fraudsters with $3 trillion & 55 billion transactions,
projected to reach 85 billion transactions by 2011. In 2007, over 100 million cards
were compromised, with identity crimes against existing and new account cardholders
estimated at over $50 B. Financial intuitions bear the majority of this expense
which impacts bottom line performance.
iXept delivers value for merchants, financial institutions, card companies and processors
including:
- Effective and affordable fraud detection tool that reduces time and costs of fraud
mitigation
- Customization and flexibility that incorporates your organization's baseline rules
to align with policy and safeguards
- Multi-channel functionality that meets the diverse channel preferences of your accountholders-be
it mobile, PDA, email, land line, etc.
- Reinforced company image & brand promise, improving the overall accountholder experience
with increased security and peace of mind
- Consistent with growing consumer preferences for banks that monitor and detect fraudulent
transactions and activity
- Two-way alert communication platform provides additional accountholder touch point