EFD FraudManagerEFD Enterprise Fraud Management 
Fraud is a relentless and pervasive problem in financial services. EFD has developed a range of components for issuers, acquirers and retailers to address card-related fraud. These components can also be linked to other EFD Data & Decisioning solutions to provide an enterprise approach to fraud management. Where payments and fraud converge, EFD is on hand to help prevent loss – from the point of account opening through the monitoring of every transaction and into the back office. Please click on the links below to visit our product pages.
Harnessing the power of transaction data
As payment processing and settlement becomes faster and crosses more geographic boundaries, exposure to fraud increases. EFD fraud management components monitor transactions as they flow through the payments switch, to identify potentially fraudulent activity and block illegitimate transactions.
EFD FraudManager enables issuers and acquirers to detect preventable fraud as soon as possible, analyzing payments as they occur in real-time as part of the authorization path or post-authorization for subsequent follow-up. Combining flexible rules creation and management with extensive research and decisioning features, the system generates alerts and reports that assist fraud analysts in improving their productivity and catching more suspect transactions. Similarly, for cardholder not present transactions over the Internet or from mail order or call centers, EFD FraudShield screens transactions in-line according to pre-configured parameters, reducing the number of false positives and allowing a higher percentage of genuine transactions to be authorized.
EFD enterprise payments solutions are EMV compliant and can be configured to handle chip-based authorizations. They can also support next-generation EMV script processing, allowing cards to be dynamically controlled by updating risk parameters and rules to stop fraud in its tracks.
Transaction data is notoriously difficult to capture and analyze, however it is a source of invaluable insight into customer behaviour that helps to detect and prevent fraud. EFD DataNavigator allows transaction data to be anlayzed after the transaction has been completed, as part of compiling a complete view of consumer activity. This gives fraud analysts the opportunity to identify and examine patterns of suspected fraudulent behaviour.
Fraudsters do not limit their activities to one channel. Once a consumer identity or account is compromised, fraud soon spreads to other areas of the financial institution – across checking accounts, loans, mortgages, internet banking and so on. Traditionally fraud management has been handled separately for each of these areas, leaving the financial institution exposed as fraud spreads unnoticed. Only by compiling a view of fraud across the enterprise can financial services companies protect themselves from risk. EFD Integrated Fraud Platform provides the ability to combine alerts and case management from various systems into one consolidated view – making it easier to spot fraud trends early and put measures in place to prevent it, as well as providing the information needed by management and crime prevention authorities.