Fiserv, Inc., a leading global provider of payment and financial services technology solutions, today introduced a new fraud mitigation solution designed to simplify the way large enterprises manage multichannel risk management. Accessible through the global trading platform Carat, the modular solution provides traders with controls that can be customized to their risk appetite, as well as easily accessible. access to transaction points, chargeback management and other features.

Fiserv will be rolling out Fraud Reduction this week at the Commercial Risk Council (MRC) in Las Vegas, March 6-9.

As online fraud continues to increase, as evidenced by an estimated $41 billion in damage from e-commerce by 2022, it may come as a surprise that only 27% of sellers reported minimizing losses due to online fraud. cheating is the guiding light of their fraud reduction philosophy. Instead, sellers say they focus on maximizing sales, minimizing user engagement, reducing false negatives, or balancing sales with losses due to fraud.

“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.”

Jason Paguandas, Vice President and GM of Merchant Fraud at Fiserv.

The modular solution simplifies how businesses manage risk via:

• A flexible, rules-based fraud prevention engine, which provides control over risk thresholds.
• Monitoring and scoring capabilities, which help stop suspicious transactions by leveraging machine learning, behavioral analytics, and industry-leading link analysis.
• Trusted chargeback protections, which safeguard against consumer chargeback abuse.

Benefits of data in fraud prevention

The rule-based engine supporting Fraud Reduction is complemented by collecting card, network and issuer data from Fiserv – providing a horizontal view of payment activity. These highly differentiated datasets are ingested by machine learning engines to improve decisions and deliver optimal results, such as improved authorization rates and reduced false rejections, for commercial transactions. e-commerce.

“Card not present transactions have historically been challenging from a fraud mitigation perspective, as very limited data passes through the authorization stream from the merchant to the issuer,”

“Augmenting decisions with a wide variety of data sources can significantly strengthen the customer risk profile, especially when a business is able to connect merchant and issuer data.”

Julie Conroy, Head of Risk Insights and Advisory at Aite Novarica.

Fraud Mitigation is part of Carat, Fiserv’s global commerce platform that coordinates payments and experiences for the world’s largest companies. With Carat, leading brands can consolidate their commerce, optimize deals, imagine and realize new ways to interact with customers.