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Fraud protection and much more
FraudWatch PLUS is the end-to-end fraud management support tool from Elan. In addition to the analyzing and decisioning alerts FraudWatch provides, FraudWatch PLUS includes the extra steps of client communication and comprehensive case management. With the FraudWatch PLUS program, Elan manages your debit card fraud program through detection and modeling, suspicious transaction management, as well as client service and reporting. Experienced fraud analysts work around the clock, watching for any suspicious card activity and will work with your cardholder immediately if they detect potential fraud on a card.
With the FraudWatch PLUS program, Elan manages your debit card fraud program through four stages.
Stage 1: FraudWatch Modeling and Detection
- Neural Modeling
- Business Rules
- Data Warehousing of Transaction Histories
Stage 2: Suspicious Transaction Analysis
- Identify suspicious transaction
- Analysis of alerts
- Decision on High Risk Alerts
Stage 3: Suspicious Transaction Management
- Cardholder Contact on behalf of Client
- Authenticate Transaction
- Account Blocks Where Appropriate
- Hot Carding
- Card Reissue
- Confirm Fraud Cases
- Research of Chargeback Rights
Stage 4: Client Service and Reporting
- Continuous Communication with Client
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