CPI Card Group, a leading payment technology company, has entered a partnership with Rippleshot, a fraud prevention platform.
The partnership between CPI Card Group and Rippleshot aims to integrate Rippleshot’s advanced fraud prevention services into CPI’s customer offerings. This collaboration is designed to enhance the fraud management capabilities for CPI’s customers, enabling them to preempt fraudulent activities, reduce associated costs, and improve overall customer retention and satisfaction.
This company is at the forefront of payment technology, providing various card solutions and digital services. Their offerings include instant issuance software solutions that cater to a wide range of financial institutions looking to enhance their cardholder engagement and operational efficiency.
Rippleshot leverages a robust data consortium of over 5,000 financial institutions to fine-tune its fraud analytics platform. By identifying fraud patterns, the platform generates actionable intelligence that helps in proactively detecting risks and blocking potential fraud incidents.
The partnership allows CPI Card Group’s customers to access Rippleshot’s fraud analytics, significantly enhancing their ability to prevent fraud. The use of Rippleshot’s services is expected to lead to a notable decrease in fraud incidents, lower rates of chargebacks, and reduced need for manual monitoring, all while boosting profits and maintaining the cardholders’ trust.
Clients using Rippleshot have seen up to a 35% reduction in fraud activity annually and have identified significantly more compromised cases than with average network alerts. The partnership also provides financial institutions with strategies to minimize disruptions to customer transactions, leveraging Rippleshot’s risk score-based reissuance methods.
“Rippleshot is eager to make our customers’ businesses more efficient and add value to our suite of digital solutions,” CPI Card Group Vice President, Business Development and Digital Solutions Rob Dixon said. “Rippleshot is a technology-forward solutions provider with a human-centric approach to decreasing fraud. Through this partnership, our customers will be able to reduce costs associated with fraud loss, chargebacks and manual monitoring while increasing profits and retaining top-of-wallet status with their cardholders.”
“Our partnership with CPI furthers our commitment to collaborating and helping financial institutions better protect their revenue and their account holders,” Rippleshot CEO and Co-Founder Canh Tran said. “Keeping up with evolving fraud trends is complex, labor intensive and impossible to tackle alone. We’re excited to team up with CPI and their partners to help financial institutions proactively transform fraud prevention with a data-driven fraud management approach.”
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