In its role as a broad-based payments and risk management provider, Metavante recognizes the tremendous benefits to clients made possible by applying fraud prevention analytics in a holistic manner. By monitoring for fraud across multiple Metavante financial and payment services, such as online bill pay and other banking transactions and applications, Actimizeâs analytics engine employs a âlearningâ functionality. Suspect transaction patterns discovered in one financial product line can enhance the fraud prevention rule set for all product lines. This better equips Metavante and its clients to more effectively prevent fraudulent transactions, while reducing the time spent on false positive transactions.
âActimizeâs analytics technology and fraud prevention solutions are just one component of Metavanteâs vision for better fraud prevention achieved through a 360-degree fraud monitoring view of consumer financial services,â said Frank DâAngelo, group president, Metavante Payment Solutions. âMetavanteâs enterprise-wide fraud monitoring vision allows us to better prevent fraudulent transactions, but equally as important, to recognize a pattern of fraud in bill pay, for example, and use the learning nature of our solution to assist in identifying fraud in other areas such as online banking and other payment channels.â
Metavanteâs first deployment of the Actimize real-time analytics technology will be Metavanteâs online bill payment services. This will enhance the existing risk management processes Metavante already provides its client base. The benefits of this commitment to ever-improving levels for fraud monitoring and prevention include real-time monitoring across both ârisk-basedâ and âgood fundsâ model bill pay clients.
âFraud prevention and deterrence is a critical priority for our clients. They seek solutions that move beyond the reactive fraud response and link to Metavanteâs enterprise risk management, regulatory compliance, and anti-money laundering solutions,â said Gary Bakker, division president, Metavante Risk and Compliance Solutions. âMonitoring for fraud with a single, interconnected view moves us toward providing fraud reporting to our clients in a single, enterprisewide report covering all product lines.â