Fiserv, a global provider of payments and financial technology solutions, has introduced a new fraud mitigation offering.
Accessible through the Carat global commerce platform, the modular solution, Fiserv claims, empowers merchants with controls that can be customised based on a firm’s risk appetite, along with simplified access to transaction scoring, chargeback management and other capabilities.
The modular solution simplifies how companies manage risk through a flexible, rules-based fraud prevention engine, which provides control over thresholds. It also helps to monitor and score capabilities, which can help stop suspicious transactions by leveraging machine learning, industry-leading link analysis and behavioural analytics.
The solution also offers trusted chargeback protections, which helps to safeguard against consumer chargeback abuse.
The rules-based engine powering fraud mitigation is augmented by acquiring, card, network, and issuer data from Fiserv – providing a horizontal viewpoint across payment activity.
These highly differentiated data sets are ingested by machine learning tools to improve decisions and provide optimal outcomes, such as improved authorization rates and a reduction in false declines, for e-commerce transactions.
Fiserv vice president and GM of merchant fraud Jason Paguandas said, “As omnichannel fraud becomes more sophisticated, businesses are trying to strike a balance between reducing risk and driving revenue – whether that is by maximizing authorizations, limiting false declines, or preserving consumer trust.
“By providing businesses with a highly configurable and scalable solution, merchants can align fraud controls to their business strategy and easily augment their tech stack without integrating to additional vendors.”
Last year, Finicity, a Mastercard company, and Fiserv teamed up to boost open finance through secure data sharing.
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